DGKV further reinforces its distinguished arbitration track record by achieving a new 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 EOOD (Sandvik), 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 (Montagi) 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 form 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. The court dismissed Montagi of all arguments based on invalidity of the arbitration agreement and breach of public policy otherwise ground for resisting of recognition of the award under the New York convention.
DKGV’s team engaged on this project was led by Partner Angel Ganev and Associate Vlada Tsenova.