005080
. On 30 November 2005, the Respondent State and Waterville signed a Memorandum
of Understanding
(MOU) to inter alia secure funding for the project on behalf of the
Respondent State from Bank Austria Creditanstalt Credit Consalt AG.
. In
December
2005,
the
Applicant,
in alliance
with
Waterville
Ltd
Holding
(BVI)
Company and Austro Investment Company, where he was Board Chairman, engaged
M-Powapak
financial
Gmb
services
Company,
where
he was
Director, through
in respect of rehabilitation and
construction
a contract to provide
services
of the two
stadia.
. On6 February 2006, the Ministry of Education and Sports authorised the construction
of the two (2) stadia by Waterville Holding Ltd (BVI) Company.
. On6 April 2006, the Respondent State abruptly terminated the contract of December
2005 with Waterville Holding Ltd (BVI) Company,
citing high costs and the fact that
Waterville Holding Ltd (BVI) Company had failed to secure the funding as agreed in
the MOU
concluded on 30 November 2005.
. Waterville Holding
Ltd (BVI) Company,
through the Applicant,
termination of the contract but later on conceded
initially protested the
and claimed the money for work
already done as authorised by the Ministry of Education and Sports. The Respondent
State agreed and paid Waterville Holding Ltd (BVI) Company a
total of 21.5 million
(Twenty-One
Million,
up
termination.
Following
Five
Hundred
this payment,
Euros)
for certified
the Company
work
is said to have
to the
point
fully paid
of
the
Applicant, as its agent, bringing the relationship between Waterville Holding Ltd (BVI)
Company and the Applicant to an end. This payment is not a subject of dispute before
this Court.
. Following a change of government of the Respondent State in 2009, the Applicant, in
his personal capacity, claimed from the new government payment of 2% as the total
cost for the distinct role he played in raising funds for the project. On 6 April 2010, the