Francesco Becchetti

Albania's Justice Minister, Ulsi Manja, presented a draft law on Thursday for the establishment of a local court to settle commercial disputes, after the PM announced that Albania might leave the international arbitration body.

Prime Minister Edi Rama told a press conference on Friday that a decision by International Centre for the Settlement of Investment Disputes, ICSID to award Italian businessman Francesco Becchetti around 110 million euros in compensation was "scandalous" and said Albania might quit the body in response.

Italian businessman Francesco Becchetti is due to appear at Westminster Magistrates' Court in the UK on December 7 for a procedural hearing that will consider an extradition request by the Albanian authorities.

Becchetti, 49, was arrested in London by officers from the UK's Metropolitan Police Extradition Unit on 26 October on behalf of the Albanian authorities.

The Italian businessman Francesco Becchetti, who has invested in media and energy sectors in Albania, has been detained in London and told to go to Albania, where courts seek his arrest for money laundering and tax evasion.

The Albanian courts have issued an international arrest warrant in accordance with extradition treaties that the country has signed with international partners.

Albanian prosecutors have seized the bank accounts and shares of companies under the ownership of the Italian businessman Francesco Becchetti and his business partners following a long investigation into money laundering.