Rothschild’s Company Accused Moldovan Authorities of Political Pressure and Threatened Legal Action

Nathaniel Rothschild’s NR Investments Ltd, which recently bought the Cyprus offshore Komaksavia Airport Invest Ltd, which owns 95% of the Chisinau airport concessioner of the Moldovan company Avia Invest SRL, intends to sue the Moldovan authorities. The company accused the Moldovan government of political pressure, Agora.md reports on October 4, citing a company press release. On September 10 the public property agency filed a lawsuit against Avia Invest with the requirement to invalidate the contract on transfer to concession of Chisinau International Airport. In this regard, the Rothschild’s company in its address to President Igor Dodon reminded of the existence of a bilateral investment agreement, which Moldova and Cyprus signed on September 13, 2007. “This agreement guarantees mutual promotion and protection of investments for representatives of two jurisdictions,” the company said. NR Investments Ltd called on Moldova to peacefully resolve the issue of transferring Avia Invest to Chisinau Airport. NR Investments Ltd also announced that it had sent a warning to the country’s leadership, including the Prime Minister, that if they did not stop the political persecution and if this problem could not be resolved peacefully, they “had no choice but to go to court” due to violation of the agreement signed between Moldova and Cyprus. We remind that NR Investments, incorporated in Guernsey, acquired the concession to operate Chisinau International Airport through the purchase of Komaksavia, which owns 95% of the equity in the concessionaire, Avia Invest S.R.I. A few days before that, NR Investments was about to buy a 95% stake in Avia Invest. NR Investments refused to say the transaction value. As Prime Minister Maya Sandu said earlier, the contract signed with the company on August 30, 2013 is illegal because it contains numerous violations of the law. In addition, the provisions of this agreement are contrary to the interests of Moldova. As Sandu said, the airport should be profitable for the state and citizens of Moldova. “We believe that there are enough arguments to break the Chisinau Airport concession contract,” said Sandu. Newsmaker