Omni Bridgeway announced today that it is pursuing enforcement of a $13 million arbitral award against the Republic of Albania after years of noncompliance by the state. The case, titled Omni Bridgeway Limited v. Ministry of Infrastructure and Energy of the Republic of Albania et al., is currently before the U.S. District Court for the District of Columbia.
The award, originally secured by GBC Oil Co. Ltd. and later assigned to Omni Bridgeway in 2023, stems from a nearly decade-long dispute regarding taxes on oilfield projects. Despite a default judgment confirming the award more than six months ago, and formal service of the judgment on Albania more than 3.5 months ago, Albania has failed to respond, pay, or take any steps toward compliance.
“Respondents have not satisfied any portion of the judgment, nor have they indicated any plans to do so,” Omni Bridgeway stated in its filing. “The Republic of Albania’s continued failure to engage confirms that enforcement action is now necessary.”
The dispute originated in 2007, when GBC entered into petroleum agreements with Albania’s state-owned Albpetrol Sh.A. Over time, the Albanian government imposed new taxes and eliminated key exemptions, in violation of its contractual obligations. In 2020, an arbitral tribunal ruled decisively in GBC’s favor, awarding over $12.5 million plus costs and interest.
Following Albania’s refusal to honor the award, Omni Bridgeway is now seeking court authorization to seize Albanian assets in the United States.
Omni Bridgeway is represented by Robert K. Kry and Lois S. Ahn of MoloLamken LLP.
For more information on the case and Omni Bridgeway’s enforcement efforts, please refer to case number 1:23-cv-01938 in the U.S. District Court for the District of Columbia.
