NY Appeals Court Nixes €433M Bid To Enforce Albanian Award

A New York state appeals court on Thursday nixed an Albanian power company's quest for €433 million ($530 million) as it looks to enforce an Albanian court judgment against Italian utility giant Enel over a severed power plant deal, saying the Empire State lacks jurisdiction over the dispute.

Enel had appealed a state Supreme Court judge's October 2014 refusal to dismiss the enforcement bid of Albaniabeg Ambient Shpk despite the fact that Enel didn't have personal jurisdiction or property in New York. Relying on the Appellate Division's...

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