Best Project Finance Lawyers in Shkoder

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Curri Law Firm
Shkoder, Albania

Founded in 2000
50 people in their team
Albanian
English
Our History“Curri & Associates | Attorneys at Law” is a full-service law firm with offices in Tirana and Shkoder. We are dedicated to providing high-quality legal services to our clients. Our team of experienced attorneys is committed to helping clients navigate the legal system and achieve...
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About Project Finance Law in Shkoder, Albania

Project finance is a specialized area of law that focuses on funding large-scale projects, such as infrastructure, energy, transport, and industrial developments. In Shkoder, Albania, project finance typically involves complex agreements between public and private sectors, banks, investors, and other stakeholders to ensure that major projects are completed efficiently and within legal frameworks. The approach is usually non-recourse or limited recourse, meaning repayment is sourced primarily from the cash flow generated by the project itself, rather than the sponsors' assets. Albania, including Shkoder, has seen a growing interest in both domestic and international project finance, particularly in areas such as energy, road construction, and public utilities.

Why You May Need a Lawyer

A lawyer specializing in project finance can provide valuable assistance in several situations, such as:

  • Navigating the complexity of legal structures and agreements required for project finance transactions.
  • Ensuring all required permits, licenses, and regulatory approvals are in place before any financial commitments are made.
  • Drafting and negotiating contracts, including financing agreements, Engineering-Procurement-Construction (EPC) contracts, operation and maintenance agreements, and shareholders' agreements.
  • Identifying and managing risks that might affect the project's timetable, budget, or completion.
  • Assisting with land acquisition, environmental compliance, and public authority approvals in Shkoder.
  • Helping resolve disputes between project participants or government agencies.
  • Guiding foreign investors who may be unfamiliar with the Albanian legal landscape and local business customs.

Local Laws Overview

Albania's legal framework for project finance is influenced by laws on banking, public-private partnerships (PPPs), concessions, commercial activities, and foreign investment. The key points relevant for project finance in Shkoder include:

  • The Law on Concessions and Public-Private Partnership sets out the procedures for awarding and monitoring PPP projects, including public tenders, contract requirements, and risk allocation.
  • Banking and Financial Laws regulate how financing can be raised, how security interests are structured, and provide protections for lenders.
  • Foreign Investment Law establishes the rights of foreign investors and offers guarantees against expropriation as well as free transfer of profits abroad. This is particularly important for international projects in Shkoder.
  • Licensing and Environmental Regulations must be considered, as many projects require local approvals and must comply with environmental laws.
  • Commercial and Company Law governs the formation of special purpose vehicles (SPVs), which are often set up for project finance deals to limit liability and facilitate the financial structuring of the project.

It is important to note that many aspects of project finance in Shkoder will involve coordination with the central government in Tirana, especially for larger or strategic projects.

Frequently Asked Questions

What is project finance?

Project finance is a method of funding in which the lenders look primarily to the revenues generated by a specific project, rather than the general assets or creditworthiness of the project sponsors, for repayment.

Who are the typical participants in a project finance transaction in Shkoder?

Participants include project sponsors, lenders (often banks), contractors, government agencies, and sometimes multilateral development organizations. Local municipalities in Shkoder may also be involved, especially in infrastructure projects.

Which types of projects in Shkoder commonly use project finance?

Typical projects include energy plants (hydropower, solar), roads, bridges, water treatment plants, waste management facilities, and telecommunications infrastructure.

Do I need government approval for a project finance deal in Shkoder?

Most project finance deals, especially those involving public assets or services, require government approval at various levels, including permits, licenses, and sometimes parliamentary approval for larger investments.

What legal structure is most commonly used for project finance in Albania?

A special purpose vehicle (SPV) company is usually established to implement and operate the project, ring-fencing the project's assets and liabilities.

Are there restrictions for foreign investors in project finance?

Generally, Albania allows full foreign ownership and offers protections for investors, but there are sector-specific regulations and sometimes additional requirements for land ownership or certain strategic industries.

How are risks managed in project finance?

Risks are allocated among parties via detailed contract provisions. This includes risks related to construction, operation, market demand, currency, law changes, and force majeure events.

Can local banks provide financing for large scale projects?

Local banks in Albania, including branches in Shkoder, can participate in project finance, but often major financing will involve international banks or multilaterals, especially for larger or more complex projects.

What happens if the project fails to generate the expected cash flow?

In non-recourse project finance, lenders rely on the project cash flow for repayment, so if the project fails, creditors may take charge of the project's assets, but sponsors typically do not have further liability.

How long does it take to close a project finance transaction in Shkoder?

Depending on the size and complexity of the project, it can take several months to more than a year, involving feasibility studies, detailed negotiations, and securing regulatory approvals.

Additional Resources

If you are involved in project finance in Shkoder, the following resources and organizations can be helpful:

  • Ministry of Infrastructure and Energy of Albania - the governmental body overseeing infrastructure and PPP projects
  • Albanian Investment Development Agency (AIDA) - provides guidance on investing in Albania
  • Shkoder Municipality - for local permits, land use, and community relations
  • Albanian Financial Supervisory Authority - overseeing the financial and insurance market
  • Local branches of major commercial banks
  • Chambers of commerce and business associations in Shkoder
  • Albanian Bar Association - to help identify specialized lawyers
  • European Bank for Reconstruction and Development (EBRD) and World Bank resources for project finance standards

Next Steps

If you need legal assistance with project finance in Shkoder:

  • Consult with a lawyer or law firm experienced in project finance, preferably with a track record in Shkoder and understanding of both local and international standards.
  • Gather comprehensive documentation about your project, including feasibility studies, business plans, and any correspondences with potential partners or authorities.
  • Reach out to the relevant governmental bodies early to clarify requirements and timeframes.
  • Consider consulting financial advisors and technical experts for a multidisciplinary approach.
  • Stay informed about changes in local and national laws that could impact your project.

Working with qualified professionals will help ensure that your project finance transaction proceeds smoothly and is fully compliant with Albanian law.

Lawzana helps you find the best lawyers and law firms in Shkoder through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Project Finance, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Shkoder, Albania - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.