Zaiwalla & Co has helped Bulgarian gas distributor Overgas Group reach a settlement in a dispute with Russia’s Gazprom.
According to Zaiwalla & Co, the dispute centered on Gazprom’s decision to stop supplying natural gas to Overgas in January 2016. According to the firm, “Gazprom claimed that Overgas owed [it] approximately USD 105 million under this arrangement … [and] that the Overgas Group defendants were involved in a complex conspiracy to dilute Gazprom’s shareholding in a joint venture company.” The firm reported that, for its part, “Overgas claimed that Gazprom acted in breach of EU and Bulgarian competition law and in breach of the supply contract by agreeing to sell gas only to state-owned Bulgargaz … [and] argued that the change in structure had been precipitated by Gazprom ceasing gas supplies to the Overgas Group.”
The Overgras Group and Gazprom reached an unspecified settlement on January 28, 2021.
The Zaiwalla & Co team was led by Senior Solicitor Rohit Ralleigh.