Nexo v Bulgaria - ICSID Case No. ARB/24/2 - Press Release Nexo Sues Bulgaria for over $3 Billion - 24 January 2024
Country
Year
2024
Summary
January 24, 2024 - Nexo AG and its subsidiaries have filed an over $3 billion ICSID arbitration claim against the Republic of Bulgaria for damages and lost opportunities caused by the country's wrongful and politically motivated actions against the company and its executives, involving unjustified and oppressive criminal investigations, subsequently dismissed for lack of merit. Nexo AG and its subsidiaries are being represented by the U.S. law firm Pillsbury Winthrop Shaw Pittman LLP, and the claim is submitted at the Secretariat of the World Bank's International Centre for Settlement of Investment Disputes (ICSID) in Washington, DC.
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