A June court-ordered seizure in a SPAK investigation has added title, escrow and asset-restraint issues to the environmental and planning risks surrounding Jared Kushner’s proposed resort on Albania’s coast.
The development follows protests over the Zvernec plans. On 9 June, Prime Minister Edi Rama said no building permission had been issued and that an environmental impact assessment would be required before construction could be approved. The European Commission has separately raised concerns about compliance with EU environmental standards during Albania’s accession process.
On 12 June, SPAK said the Special Court Against Corruption and Organised Crime ordered the preventive seizure of assets connected with sale contracts from three individuals identified as A.Sh, F.S and B.S to a company identified as “A…L…D…sh.a”.
SPAK placed the provisional value of that seizure above €128.4 million, subject to further verification. The same investigation produced orders for 15 people to be held in custody and five under house arrest. The Albanian State Police and National Bureau of Investigation executed four measures, while Greek law enforcement authorities detained another suspect.
Rama later stated publicly that one landowner involved in the resort transaction was under investigation and that the purchase money had been placed in escrow until the issue was resolved. He said investors had acquired private land, but no project or environmental assessment had yet been approved.
European Commissioner Marta Kos subsequently said Albania had assured the European Commission that a full environmental impact assessment would be completed and European standards respected. Commission spokesman Guillaume Mercier had earlier called for action without delay. The public SPAK notice does not identify Kushner or accuse the resort investors of criminal conduct.
Solicitors advising on cross-border property and development transactions should treat the matter as a dual-track risk involving criminal asset restraint and administrative approval. Counsel will need to determine what the seizure covers and confirm the escrow release terms. The transaction documents should then be reviewed for title warranties, disclosure duties, termination rights and indemnities.
Barristers may need to coordinate challenges before the Special Court with separate civil or title proceedings. In-house counsel and financiers should not assume that registration of a purchase ends the risk where consideration remains restrained or beneficial ownership is disputed.
SPAK said its investigation continues with international partners, including Eurojust and Europol, to identify other participants and trace suspected criminal assets. SPAK’s investigation remains open, while the exact value of the assets covered by the Special Court’s €128.4 million preventive seizure is still being verified.
Edi Rama’s government must separately assess any planning application and environmental impact assessment for the Zvernec site under Albanian law and EU standards. Counsel will need to assess whether the seizure delays completion, restricts the use of the land or changes the resort’s financing and approval timetable.