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21-03-2018 07:19
DGKV Successful in a Rare Litigation Procedure

DGKV achieved victory in a rare procedure for recognition and enforcement in Bulgaria of a foreign arbitral award delivered by an arbitration panel in arbitration proceedings under the auspices of the Vienna International Arbitral Centre (VIAC). DGKV’s litigation lawyers successfully represented Sandvik Bulgaria, part of the Austrian distributor of equipment for excavation and transport of minerals and other bulk materials – Sandvik Mining and Construction Materials Handling GmbH & Co KG, in an arbitral dispute against the state owned Bulgarian company Montagi EAD arising from a contract for erection of coal and lime stone storage and handling systems at Maritza East 1 power station. The arbitration panel rendered its award in Sandvik's favour, but the latter did not receive any payments from Montagi and it took steps to enforce the award in Bulgaria. By Decision from 11 April 2017 the Sofia Appellate Court confirmed the first instance court decision by which the VIAC’s Arbitral Award was recognized and its enforcement in Bulgaria was allowed. With a Ruling from 6 March 2018 the Supreme Court of Cassation has not admitted the cassation appeal of Montagi to consideration on the merits.

DKGV’s team working on this project consisted of Partner Angel Ganev and Senior Associate Vlada Tsenova.

Source: www.dgkv.com
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