The Court of Appeal of General Jurisdiction decided this Thursday to uphold the decision of the Tirana Court, which had excluded the Mabco company from the right to vote and administration in the concession company “Vlora International Airport”. According to this decision, Behgjet Pacolli has been excluded from the administration of Vlora airport until the trial on the merits of the conflict between him and Valon Ademi of “2A Group”.
The clash between the two shareholders of Vlora Airport began after Pacolli's company, Mabco SA, had received a loan of 100 million euros from an investment fund in Luxembourg, called "Delphos Compartment Bernina", while the revenue flow from Vlora Airport was pledged in favor of this fund.
Accusing Pacolli of acting in bad faith and contrary to the law, Ademi requested the suspension of Mabco's voting rights until the case was reviewed on its merits. The Tirana Court accepted this request, a decision that was also upheld by the Appeals Court.
According to the Appeal, the legal actions with the "Delphos" contract openly endanger public interests and those of partner Ademi.
Meanwhile, as shareholders clash among themselves, the airport construction works seem unlikely to be completed within the contract deadlines. On the other hand, the Tirana Prosecutor's Office, based on mutual complaints from shareholders, is investigating several criminal offenses.
