Arbitration

Cryptocurrency-based financial services company Nexo has filed a case against Bulgaria in an international arbitration court in the USA, according to investigative website "Bird.bg" This move comes after the Bulgarian prosecutor's office dropped its investigation into Nexo, citing insufficient evidence of a crime.

Gary Born, one of the leading figures in international arbitration, is becoming the new member of the Istanbul Arbitration Center's (ISTAC) prestigious International Arbitration Board, Ziya Akıncı, the president of the center has announced.

"The probability of Gazprom requesting and winning an arbitration case against Bulgaria has been minimized. We are thinking in the direction of filing claims against 'Gazprom'", acting Minister of Energy Rosen Hristov said on the National Television regarding the suspension of natural gas deliveries from Russia in 2022.

Edi Rama says arbitration in future will be a matter for a local Albanian court, but experts say there is no escaping the role of international settlement bodies if the country wants to attract foreign investors.

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.

Slovenian fishermen whom Croatia has been fining for fishing in waters that a border arbitration tribunal awarded to Slovenia in 2017 have turned to the European Court of Human Rights (ECHR) in Strasbourg after exhausting all legal possibilities for an appeal in Croatia.

The Arbitration Department of the Independent Authority for Public Revenue (AADE) functions like a small and efficient court of justice with speedy procedures.

"Bulgargaz could be sued by Russian energy giant Gazprom in an arbitration case, risking paying hundreds of millions of dollars." This was stated by the Acting Energy Minister Rosen Hristov during the parliamentary control.

"Bulgaria did not make the right decision regarding the old contract with Gazprom. There is no way to sign a new contract. Every step is a big problem. We are going to arbitration, most likely."

A multi-million-euro bill received by Kosovo Telecom on Tuesday added salt to the wounds of the struggling public company, after it lost another arbitration case.

The London-based International Chamber of Commerce ruled that Kosovo Telecom has to pay 13 million euros to privately-owned claimant, Dardafon, for a contract terminated in July 2019.