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Georgiev, Todorov & Co. Successful in Atomstroyexport Arbitration

Bulgaria
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Georgiev, Todorov & Co. (GTC), working with Sidley Austin, has successfully represented the Russian company Atomstroyexport in a dispute with the Bulgarian National Electric Company (NEC) before a three-member panel of the International Court of Arbitration at the International Chamber of Commerce in Geneva involving the Belene nuclear power plant. NEC was represented by White & Case.

According to the panel’s judgment, NEC is required to pay Atomstroyexport EUR 620 million. GTC reports that, “as the applicable law in the case was Bulgarian law, it also allows for high interest on arrears which can be charged over the claim, as well as for previous periods."

Bulgaria Knowledge Partner

Schoenherr is a leading full-service law firm providing local and international companies stellar advice that is straight to the point. With 14 offices and 4 country desks Schoenherr has a firm footprint in Central and Eastern Europe. Our lawyers are recognised leaders in their specialised areas and have a track record of getting deals done with a can-do, solution-oriented approach. Quality, flexibility, innovation and practical problem-solving in complex commercial mandates are at the core of our philosophy.

Firm's website: www.schoenherr.eu

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