DGAP-News: EVN AG: EVN AG commences investment treaty arbitration against the Republic of Bulgaria
(firmenpresse) - DGAP-News: EVN AG / Key word(s): Legal Matter
EVN AG: EVN AG commences investment treaty arbitration against the
Republic of Bulgaria
21.06.2013 / 15:39
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EVN AG notified the Republic of Bulgaria, in March 2013, of its claims
under international investment treaties in connection with Bulgaria's
breaches of public international law. This dispute arises out of actions by
Bulgarian regulatory authorities and government agencies in relation to the
pricing of electricity and compensation for public obligations in respect
to renewable energy. These measures have caused substantial damage to EVN
AG and its affiliates. In its notice, and on several occasions since, EVN
AG has invited the Bulgarian Government to enter into negotiations in order
to achieve an amicable settlement. Yet, these efforts have so far not led
to a resolution of this dispute.
Therefore, in order to safeguard its interests, EVN AG has initiated
international arbitration proceedings at the International Centre for
Settlement of Investment Disputes (ICSID), which forms part of the World
Bank group.
Taking into consideration that the new government of the Republic of
Bulgaria has just taken office, EVN AG would like to emphasize that it
remains interested in settling the matter amicably in the interests of both
parties.
End of Corporate News
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21.06.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: EVN AG
EVN Platz
2344 Maria Enzersdorf
Austria
Phone: +43-2236-200-12294
Fax: +43-2236-200-82294
E-mail: info(at)evn.at
Internet: www.evn.at
ISIN: AT0000741053
WKN: 074105
Indices: ATX
Listed: Foreign Exchange(s) Wien (Amtlicher Handel / Official
Market)
End of News DGAP News-Service
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217574 21.06.2013
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Unternehmensinformation / Kurzprofil:
Datum: 21.06.2013 - 15:39 Uhr
Sprache: Deutsch
News-ID 272073
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Kategorie:
Business News
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