Summary

Source: icsid.worldbank.org

I. INTRODUCTION AND PROCEDURAL BACKGROUND

1. This proceeding relates to a dispute submitted to the International Centre for Settlement of Investment Disputes ("ICSID" or the "Centre") on the basis of the Agreement between the Swiss Confederation and the Republic of Bulgaria concerning the promotion and reciprocal protection of investments signed on 28 October 1991 and entered into force on 26 October 1993 (the "BIT" or "Treaty") and the Convention on the Settlement of Investment Disputes between States and Nationals of Other States dated 18 March 1965 (the "ICSID Convention").

2. The claimants are (i) Nexo AG ("Nexo"), a public limited company (Aktiengesellschaft) and constituted under the laws of the Swiss Confederation; and (ii) NDS EOOD ("NDS") and (iii) Mirastar EOOD ("Mirastar"), two companies incorporated in the Republic of Bulgaria (together, "Claimants").

3. The respondent is the Republic of Bulgaria ("Bulgaria" or "Respondent").

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IV. ORDER

111. For the above-mentioned reasons:

(1) The Request for Bifurcation is hereby fully granted.

(2) The provisional Procedural Calendar for the bifurcated procedure is attached as Annex A to this Procedural Order.

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