KALO & ASSOCIATES Successfully Defended Republic of Albania

KALO & ASSOCIATES, co-counsel with Freshfields Bruckhaus Deringer, is delighted to announce the successful arbitral award, rendered by ICSID, dismissing the case brought by Anglo-Adriatic Investment Fund against the Republic of Albania, claiming about EUR 220 million for foreign investment expropriation. The case details are available here.

KALO & ASSOCIATES Assisted YURA Corporation

LO & ASSOCIATES team, led by partner Jola Gjuzi, assisted the South Korean global supplier, YURA Corporation. YURA Corporation was granted the status "strategic investor" by the Albanian Government following a thorough examination of the project by AIDA. Yura will be producing electric, electronic and ignition components for the automotive industry and will employ a great number of Albanian citizens.

KALO & ASSOCIATES Advising in the Financing of Trans Adriatic Pipeline

KALO & ASSOCIATES acted as local counsel to the lenders in the EUR 3,9 billion financing of Trans Adriatic Pipeline (TAP), the largest project finance agreed for a European infrastructure project in 2018. Read more about the completed project financing on TAP's website.
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BOYANOV & Co. and KALO & ASSOCIATES Advised Albania Telecom Invest

BOYANOV & Co. and KALO & ASSOCIATES, members of SEE Legal, advised Albania Telecom Invest (ATI), a joint venture of Mr. Spas Roussev and Mr. Elvin Guri (a successful Bulgarian entrepreneur of Albanian origin), on the acquisition of Telekom Albania from OTE (Deutsche Telekom) for a total consideration of EUR 50 million. More specifically, BOYANOV & Co. advised ATI on the entire deal – participation in an auction organised by OTE, submission of a bid, legal due diligence (in cooperation with KALO & ASSOCIATES), negotiation of the sale and purchase agreement, escrow agreement and…

KALO & ASSOCIATES' Lawyers Recognized Again as Contributors to the "Doing Business 2019" Flagship Report of the World Bank

Several senior lawyers of KALO & ASSOCIATES have again been recognized as contributors to the "Doing Business 2019" flagship report of the World Bank. Aigest Milo, Shirli Gorenca, Flavia Xhafo, Elira Hroni and Irv Vaso contributed by identifying the gaps in laws and regulatory framework that are necessary to improve procedures in the areas of employment, tax and taxation, insolvency, getting credit, PPP etc., which, in turn, have a significant impact on the improvement of business climate at large.

KALO & ASSOCIATES Advised EBRD

KALO & ASSOCIATES advised the European Bank for Reconstruction and Development (EBRD) on a EUR 6 million loan that EBRD is providing to Union Bank Albania under the Green Economy Financing Facility for the Western Balkans. For more information, please visit https://www.ebrd.com/news/2018/ebrd-lends-6-million-to-union-bank-to-boost-green-energy-investments-in-albania.html

Dam Safety Project

The aims of the fifth Adaptable Program Loan for the development objectives of Energy Community of South East Europe Program are to: (i) contribute to safeguarding the major hydroelectric plants of Albania (Fierza, Koman and Vau i Dejes dams on the Drin river); and (ii) improve their operational efficiency and enhance the stability of power supply for the regional electricity market. The project’s main impact will be to prevent a possible catastrophe resulting from a dam failure. Such a catastrophe can result in significant loss of life and damage to property of persons living in downstream…

Development of Solar Powered Capacities

An EBRD funded project for reviewing the existing legal and regulatory arrangements in Albania and developing secondary legislation and regulatory rules is underway. The aim of the project is to assess the technical options for the solar PV support programme (e.g. size, location, etc.), provide recommendations to the Albanian authorities in this respect and provide implementation support to authorities for the support programme.

Gas TSO regulatory support

An EBRD funded project, assisting the Albanian Gas Transmission System Operator ALBGAZ SHA, aiming to setting up a regulatory unit with the objective of implementing the gas transmission tariff regulation, operationalizing the network code and developing a gas transmission CAPEX planning procedure.

KALO & ASSOCIATES Advise on Incorporation of Air Albania

SEE Legal's Albanian member's team, led by partners Enkelejd Seitllari and Jola Gjuzi, advised Turkish Airlines on the negotiation and incorporation of Albania’s new flag carrier, Air Albania. Air Albania launched its first test flight on Friday and is expected to start commercial flights soon. Turkish Airlines holds 49% of Air Albania’s stakes, while the remaining stakes are being held by two other shareholders, respectively Albanian State represented by Albcontrol (10%) and MDN Investment SHPK (41%).

KALO & ASSOCIATES Advise Societe Generale S.A. on the Sale of its Majority Stake in SGAL

SEE Legal's Albanian member acted as local counsel to Societe Generale S.A. on the sale of its majority stake in Société Générale Albania (SGAL) to OTP Bank.  With a market share of nearly 6%, SGAL is the 5th largest bank on the Albanian banking market, active in both retail and corporate segment. The closing of the transaction is expected to take place in the coming months, subject to receipt of clearances from the relevant banking and antitrust authorities, and relevant third party consents. KALO & ASSOCIATES' team was led by partner Aigest Milo.

Project Proposal for Construction of a Floating Solar Park over the Lake Vau i Dejes

The Albanian Power Corporation (KESH SHA), as the largest hydro power producer, has designed to construct a 118,000sqm floating solar panel over the Lake Vau i Dejes, avoiding land occupation and better use of the solar energy over the water. The power of this floating photovoltaic plant is projected to be 12.9mwh and is expected to generate 17.4 million kh energy per year. The life expectancy of the infrastructure is 20 years.