The Varna court of appeal sentenced “Albena AD” to pay 2,018 mln lv to MRDPW for an outstanding concession rewarding

The Varna court of appeal sentenced “Albena AD” to pay to the state through the Ministry of Regional Development and Public Works the sum of 2 018 535 lv which is the unredeemed part of the concession rewarding for 2002 and 2003. The company has to pay the state another 47 777 lv interests, 224 109 lv forfeits or penalty payments as well as the state fee and the court costs on the case. Albena AD is the concessionaire of the Albena beach under contract from June 1998. The case against the company was initiated by MRDPW at the beginning of 2005 in defense of the interests of the state. The monetary revenues from the submission and the implementation of the concessions compliant with the Law for the concessions come into the state budget. Through its claim against Albena AD MRDPW performs its duties for supervision on the awarded concession contracts. Public Relations and International Activities Directorate