OREANDA-NEWS. December 01, 2011. The owner of Le Bridge Corporation Limited sued Moldova for illicit expropriation to get 50 mln. euros.  This was said by lawyer of the company Ion Paduraru at a press conference. He has pointed out that the suit was filed to the International Centre for Settlement of Investment Disputes under the World Bank.

It may take up to 2 years to entertain the action and cost to the company 3 mln. euro or even more but Frank Arif, the owner of Le Bridge has assured of success. The suit has been filed on the grounds of breach of the agreement between France and Moldova about mutual support and investment protection. The sum of 50 mln. euros has been figured out by foreign experts, includes real loss, absence of income, etc and may be increased. In 2008 Le Bridge won a tender on building Duty Free chain.

The company has invested 10 mln. euros and built four outlets at customs points and one in the international airport of Chisinau. Other bidders, in particular, Dufremol, appealed against the resolution of commission in court. As the result, the activity of all outlets was halted. The Suprem Judicial Court declared a lease contract between Le Bridge Corporation Limited and Chisinau’s airport null in summer, 2011. Several days ago, after making over ten inquiries, Le Bridge was admitted to its 1,5 mln. euro cost wares on the shelves of the outlet in the airport which has stood idle since November, 2009.

“The tender’s results were also declared invalid and Dufremol was announced a winner. This judgment is illegal. We have exhausted all other possibilities to restore justice in Moldova. The Public Property Agency disregarded our inquiries. We hope our suit to CSID will further the enhancement of laws in Moldova”, Ion Paduraru emphasizes.

At present, four duty-free outlets of Le Bridge at customs points of Costesti-Stinca, Kahul-Oancea, Leuseni-Albita and Sculeni are open. Le Bridge invested into duty-free chain 10% of total investment in Moldova. The company is also a shareholder of factories of Inlac and Sandriliona. It gives jobs to 1400 people.