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DGKV Successful for CEZ in a Multimillion Dispute with NEK

DGKV Successful for CEZ in a Multimillion Dispute with NEK

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DGKV has successfully assisted CEZ Electro Bulgaria AD, one of the three public electricity suppliers in Bulgaria, in settling a multimillion commercial dispute with state-owned power utility National Electricity Company EAD (NEK).

According to DGKV, the dispute revolved around CEZ's claim that NEK was required to pay it (at preferential prices) for electricity from renewable energy sources and high efficiency cogeneration CEZ had provided to the state from July 1st, 2012 to July 31, 2013, and NEK's counterclaim that CEZ owed NEK for electricity CEZ had purchased from the state from January-February 2014 (CEZ made partial payments, but then notified NEK that it would deduct the amounts due since it had outstanding receivables from NEK). In other words, according to DGKV, "the main matter in dispute in the commercial litigation proceedings was the ... set-off objection of CEZ Electro."

DGKV reports that it "successfully defended CEZ Electro before [the court of] first instance, and after the pending proceedings before the second instance court, our lawyers assisted the parties to reach a mutually beneficial out-of-court settlement. On 12th July 2017 a contract was signed upon which the relations between the parties in relation to the existing legal dispute were finally settled."

DGKV’s team on the project included Partner Angel Ganev and Senior Associates Anton Krustev and Gergana Monovska. 

Bulgaria Knowledge Partner

Schoenherr is a leading full-service law firm providing local and international companies stellar advice that is straight to the point. With 15 offices and 4 country desks Schoenherr has a firm footprint in Central and Eastern Europe. Our lawyers are recognised leaders in their specialised areas and have a track record of getting deals done with a can-do, solution-oriented approach. Quality, flexibility, innovation and practical problem-solving in complex commercial mandates are at the core of our philosophy.

Firm's website: www.schoenherr.eu

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