CMS has successfully represented ASM-BG Investicii in a dispute with ESO EAD, Bulgaria's state-owned electricity transmission system operator, heard by the Arbitration Court of the Bulgarian Chamber of Commerce and Industry.
ASM-BG Investicii is a joint venture between the Korean state-owned company KOEN and the SDN Company, which primarily operates in the electric power production sector.
According to CMS, “the dispute revolved around transfer of ownership of a substation and grid connection facilities of a photovoltaic project in Bulgaria, which was delayed between 2011-2016 due to the lack of assistance from the Bulgaria’s National Electricity Company EAD and ESO EAD.” The firm reports that, “following the transfer in 2016, ESO EAD initiated proceedings before the arbitration court claiming liquidated damages, expenses, and related interest. After three years and seven hearings the panel rejected all claims filed by ESO EAD against ASM-BG Investicii and awarded the legal fees to the latter.”
This marks the second case in which CMS has assisted its client in a dispute with ESO EAD, following its successful defense of the interests of RES Technology against the Bulgarian operator last year (as reported by CEE Legal Matters on February 5, 2019).
The CMS team was led by the Partners Kostadin Sirleshtov and Assen Georgiev, and included Associates Elena Yotova-Yordanova and Dimitar Dimitrov, and Trainee Teodora Peycheva.