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3. Plama Consortium Ltd. (Cyprus) v. Bulgaria


Shearman & Sterling LLP (E. Gaillard & J. Savage); V. Colaiuta ("Avocat à la Cour" - for the phase on the merits up to May 2007); Nixon Peabody LLP (F.H. Penski - hearing on the merits) v. Bulgarian Ministry of Finance (I. Kondov); White & Case LLP (P. Friedland - New-York; C.B. Lamm; A. Cohen Smutny - Washington DC); Tomov & Tomov (L. Tomov)

Case registered


Forum & reference

ICSID Case No. ARB/03/24


Carl F. Salans (chair); Albert Jan van den Berg; V.V. Veeder

Subject matter

Oil refinery investment

Status of proceeding

08.02.2005 - Decision on jurisdiction

27.08.2008 - Award rendered


USD 300 million (Shearman & Sterling website)



Revision proceeding

27.09.2011 - Case registered

03.10.2011 - Tribunal reconstituted

Status of revision proceeding

09.07.2012 - The Tribunal issues a procedural order for the discontinuance of the proceeding for lack of payment of the required advances, pursuant to ICSID Administrative and Financial Regulation 14(3)(d)