Английская Википедия:Anglo Adriatic Investment Fund
Шаблон:Use dmy dates The Anglo Adriatic Investment Fund SA was an investment fund set up to hold privatisation vouchers issued by the government of post-Communist Albania. It was unsuccessful in its attempts to reinvest them and collapsed. Шаблон:Infobox Organization
Structure
The Anglo Adriatic Investment Fund SA[1] (AAIF) was established by Irish entrepreneur Declan Ganley.[2] AAIF was the first[2] foreign-managed investment fund in Albania, provisionally licensed on 13 April 1996[2] and definitively licensed on 22 May 1996.[3] AAIF collected privatisation vouchers[4][2] that the government of post-communist Albania was giving to Albanians, and it used the nominal value of those vouchers for investment in areas such as fertilizer,[2] breweries,[5] cement[5] and pharmaceuticals.[5] The Albanians who deposited their vouchers with AAIF received shares in the fund in return.[4]
Early success
At one point the fund had 450,000 shareholders and vouchers with a nominal value of more than $120 million.[4]
Collapse
But AAIF had collected too many vouchers: it had 12%[3] of all the vouchers and privatisation leks combined, more than the 10% maximum[3] prescribed by law.[nb 1] Following a lengthy period of negotiation and accusation between AAIF and the Albanian government,[3] AAIF was left unable to continue with the privatisation.[3] Even worse, the market value of the vouchers had dropped during the collapse of the Albanian economy from 25.6%[3] of their nominal value in January 1996[3] to 1.7%[3] in October 1998.[3] AAIF was bankrupt.[3]
Funding
AAIF was officially funded by Ganley International,[6][2] with a 10%[2] stake taken by the US-based Rothschild Emerging Markets Fund.[2] Der Spiegel stated[7] that AAIF's UK office (128 Mount Street, London, W1Y 5HA[8]) shared an address with the European branch of US investment fund Paladin Capital, and also stated[7] that Paladin Capital's advisory board was chaired by former CIA director James Woolsey. Ganley denies any involvement with the CIA.[9]
See also
Notes
- ↑ Law No. 7979, entitled "On Investment Funds", dated 26.07.95, see [1] Шаблон:Webarchive for source
References
- ↑ Details for ANGLO ADRIATIC INVESTMENT FUND SA at ICPCredit.com
- ↑ 2,0 2,1 2,2 2,3 2,4 2,5 2,6 2,7 "Albania 1999 Country Profile" Business Forum Report, London 17–20 April 1999, from Southeast Europe Online
- ↑ 3,0 3,1 3,2 3,3 3,4 3,5 3,6 3,7 3,8 3,9 "MASS PRIVATISATION PROCESS AND POST PRIVATISATION IN ALBANIA" Шаблон:Webarchive by FATMIR MEMA, University of Tirana, Faculty of Economics, Albania and NEVRUZ KOÇI Albanian State Insurance Company (INSIG), Albania, a paper given in the 1–3 June 2001 SEED Conference "Restructuring, Stability and Development in Southeastern Europe."
- ↑ 4,0 4,1 4,2 "On the mysterious trail of 'Mr No'", Irish Times, 31 May 2008
- ↑ 5,0 5,1 5,2 "THE ECONOMIC DESTRUCTION OF ALBANIA" by Michel Chossudovsky, Ottawa, 1997 via www.blythe.org
- ↑ "Irish anti-EU party to set up in Austria for June elections" Austrian Times, 19 February 2009
- ↑ 7,0 7,1 "Wie ein Milliardär Europa aufschrecktv", Spiegel Online, 28 September 2008, English translation here
- ↑ "Company Profile - Anglo-Adriatic Investment Fund" Шаблон:Webarchive, entry on PSEPS venture capital and private equity directory Шаблон:Webarchive
- ↑ "Facts not politics, learn the truth about Libertas " Шаблон:Webarchive, Libertas press office, undated