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CMS Successful for RES Technology in Arbitration Against Bulgarian State-Owned Electricity Transmission System Operator

CMS Successful for RES Technology in Arbitration Against Bulgarian State-Owned Electricity Transmission System Operator

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CMS has successfully represented RES Technology in a dispute heard by the Arbitration Court of the Bulgarian Chamber of Commerce and Industry initiated by Bulgaria's state-owned electricity transmission system operator ESO EAD.

RES Technology is a joint venture between the Korean state-owned company KOEN and publicly listed SDN Company Ltd. According to CMS, RES Technology is the largest Korean investor in Bulgaria, and it has invested in excess of EUR 200 million in photovoltaic power plants since 2010. 

CMS reports that the dispute involved a transfer of the ownership of a substation and grid connection facilities of one of the largest photovoltaic projects in Bulgaria, which was delayed between 2011-2016 due to the lack of assistance by the Bulgarian state-owned electricity companies National Electricity Company EAD and ESO EAD. Following the transfer of the substation and the grid connection facilities in 2016, ESO EAD initiated proceedings before the Arbitration court of the Bulgarian Chamber of Commerce and Industry claiming liquidated damages, expenses, and related interest. After two years and six hearings the panel rejected all the claims filed by ESO EAD against RES Technology and awarded legal fees to the latter.  

The CMS team was led by the Partners Kostadin Sirleshtov and Assen Georgiev, supported by Associates Deyan Draguiev and Dimitar Dimitrov, Trainee Teodora Peycheva, and Legal Secretary Iliana Andreeva-Popova.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

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