EVN announces legal action against Bulgaria if it is unable to negotiate concessions

Austrian energy company EVN has announced that it will take legal action against Bulgaria if it is unable to negotiate concessions over an electricity dispute reports Standart.EVN AG has informed Bulgaria that it intends to launch legal proceedings to the "Agreement Between...
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E-mail article Print Save Additional News in English Još vesti na Srpskom Επιπλέον ειδήσεις στα Ελληνικά Text

EVN announces legal action against Bulgaria if it is unable to negotiate concessions



Balkans.com Business News Correspondent - 20.03.2013

Austrian energy company EVN has announced that it will take legal action against Bulgaria if it is unable to negotiate concessions over an electricity dispute reports Standart.

EVN AG has informed Bulgaria that it intends to launch legal proceedings to the "Agreement Between the Republic of Austria and the Republic of Bulgaria for the Promotion and Protection of Investments" and the "Contract Regarding the Energy Charter" in order to safeguard its Bulgarian investments in EVN Bulgaria Elektrosnabdiavane EAD and EVN Bulgaria Elektrorazpredelenie EAD.

The date of the announcement marks the beginning of the 3 to 6 month's consultation and negotiation period under the agreements. During the course of such period, the parties are obliged to enter into negotiations and attempt to amicably resolve the dispute.

Misi Vallo
WebHostingBuzz.com

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