Komaksavia Airport Invest Ltd V the Republic of Moldova - SCC Case 2020-074 - Notice of an Investment Dispute - 2 October 2019
Country
Year
2019
Summary
Komaksavia Airport Invest Ltd. is a limited liability company incorporated and existing under the laws of the Republic of Cyprus with registered number 359258 ("Komaksavia"). Avia Invest S.R.L. -- is an entity incorporated and existing under the laws of the Republic of Moldova with registered number 1013600025635 ("Avia Invest"). These entities are referred to as the "Investors".
Komaksavia is a majority shareholder (a 95% shareholding) of Avia Invest, a concessionaire and an operator of the Chisinau International Airport ("Chisinau Airport").
Separately and collectively, the Investors hereby submit to the Republic of Moldova a notice of the existence of a dispute related to unlawful measures adopted by the Republic of Moldova in respect of the Investors' investments in the Republic of Moldova (the "Dispute").
Under Article 10(1) of the Agreement between the Government of the Republic of Cyprus and the Government of the Republic of Moldova for the reciprocal promotion and protection of investments of 13 September 2007 (the "Cyprus-Moldova BIT"):
Any Dispute which may arise between one Contracting Party and an investor of the other Contracting Party in connection with an investment on the territory of the other Contracting Party shall be settled amicably through consultations and negotiations.
Investors thus serve this Notice to invite the Republic of Moldova to settle the Dispute with the Investors through consultations and negotiations. Should the Dispute not be settled amicably, the Investors reserve a right to resort to international arbitration in various fora as set forth in Article 10(2) of the Cyprus-Moldova BIT.
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