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British company sends Kosovo to arbitration, seeks about 200 million euros in damages – Latest News

 The British company sends Kosovo to arbitration, demanding about 200 million euros in compensation

The British company ‘Fox Marble’ for marble is asking 195 million euros from Kosovo regarding the rights for the Malisheva mine. She is even seeking the support of the British government in this dispute.

As reported by the British media ‘The Telegraph’, the company has filed arbitration proceedings in the UN Commission on International Trade against the Republic of Kosovo, claiming that the state has failed to protect its rights.

Documents submitted to the UN claim that Fox signed an agreement with local companies Green Power and Scope two years ago, which would give the British company the opportunity to control the mine by handing over the shares to the firm.

Fox, writes the medium, further claims that the agreement paved the way for an expansion plan of 100 million euros, which would help the presence of one of the largest private companies in Kosovo, in creating jobs.

However, the arbitration documents claim that before the Fox directors reached the transfer of shares, the owners of Green Power and Scope, through their attorneys, challenged the validity of the deal, saying the deal had been canceled.

When Fox attempted to register ownership of Green Power and Scope with the Kosovo KBRA business registration department, the application was rejected.

The Kosovo Mining Regulator also revoked the company’s license.

The document submitted to the arbitration further states that this meant “significant financial losses. “They also lost a large financial support from the US that would have helped finance 40 quarries and factories in Kosovo.”

Kosovo government insiders have told The Telegraph that if Fox wins the case, the stability of their country’s economy is threatened.

The British media has contacted a spokesman from the Kurti Government, who blamed other governments, Gazeta Express reports.

“The allegations made by the company relate to previous governments. “This is a new government with policy priorities that include strengthening the rule of law and attracting foreign investment,” he was quoted as saying.

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