Case Details

Nexo AG, NDS EOOD and Mirastar EOOD v. Republic of Bulgaria (ICSID Case No. ARB/24/2)

Claimant(s)/Nationality(ies):

Nexo AG (Swiss), NDS EOOD (Bulgarian), Mirastar EOOD (Bulgarian)
Respondent(s):

Republic of Bulgaria (Bulgarian)
Date Registered:

January 18, 2024
Date of Constitution of Tribunal:

June 6, 2025

President:

Hans VAN HOUTTE (Belgian) - Appointed by the Parties
Arbitrators:

Michael C. PRYLES (Australian, Austrian) - Appointed by the Claimant(s)
Brigitte STERN (French) - Appointed by the Respondent(s)

Claimant(s):

Pillsbury Winthrop Shaw Pittman, London, U.K.
Respondent(s):

Tomov & Tomov, Sofia, Bulgaria
White & Case, Washington, D.C. and Los Angeles, CA, U.S.A.
Litigation Department
International Arbitration and Procedures Division
Ministry of Finance, Sofia, Bulgaria
Office of the Prosecutor General, Sofia, Bulgaria
Status of Proceeding:

Pending
Latest Development:

June 6, 2025 - The Tribunal is constituted in accordance with Article 37(2)(b) of the ICSID Convention. Its members are: Hans van Houtte (Belgian), President, appointed by agreement of the parties; Michael Pryles (Australian/Austrian), appointed by the Claimants; and Brigitte Stern (French), appointed by the Respondent.

No References Available.

Date	Development
January 18, 2024	The Secretary-General registers a request for the institution of arbitration proceedings.
April 29, 2024	Following appointment by the Claimants, Michael Pryles (Australian/Austrian) accepts his appointment as arbitrator.
May 2, 2024	Following appointment by the Respondent, Brigitte Stern (French) accepts her appointment as arbitrator.
June 6, 2025	Following appointment by agreement of the parties, Hans van Houtte (Belgian) accepts his appointment as presiding arbitrator.
June 6, 2025	The Tribunal is constituted in accordance with Article 37(2)(b) of the ICSID Convention. Its members are: Hans van Houtte (Belgian), President, appointed by agreement of the parties; Michael Pryles (Australian/Austrian), appointed by the Claimants; and Brigitte Stern (French), appointed by the Respondent.