CMS has successfully defended renewable energy client Astronergy (part of the Chinese energy group Chint) against a commercial claim brought by a former developer over the acquisition of the photovoltaic plant Cherveniakovo-4MWp in Bulgaria.
According to CMS, in its final ruling on September 11, 2017, the Supreme Court of Cassation of Bulgaria denied all the claims of the former developer of the Cherveniakovo PV plant against SP02 EOOD, the SPV owned by Astronergy Solar Bulgaria Ltd. CMS stated that the Court's judgment "marks the end of a commercial dispute that dragged through three judicial instances for over four years and allows [Astronergy] to continue its successful expansion across CEE, while recovering all its litigation expenses."
According to CMS, "since its foundation in 2006, Astronergy expanded its production capacity almost ten times, from 25MW to 2500MW, and it is one of the biggest solar project developers in China. Chint Electric and Astronergy are CMS clients since 2012 in Bulgaria, Romania, Spain, Czech Republic and other jurisdictions."
The CMS Sofia team was led by client relationship Partner Kostadin Sirleshtov and Partner Assen Georgiev with support from Senior Associates Iliyan Petrov, Maria Lazarova, Alexander Rangelov, and Jenia Dimitrova, Associates Deyan Draguiev, Rosen Ivanov, Elena Yordanova, Borislava Pokrass, Denitsa Dudevska, Raya Maneva, Dimitar Dimitrov, and Borislava Piperkova.