12 May 2017
The Bulgarian-Egyptian Business Forum was held on the 12 of May at the Bulgarian Chamber of Commerce and Industry Hall in Sofia organized by the Bulgarian Chamber of Commerce and Industry (BCCI) in cooperation with the Egyptian Council for Sustainable Development (ECSD).
As a leading international law firm in Sofia, specializing in immigration and always paying special attention to establishing business links with both neighboring and far-abroad countries, NBLO was honoured to get an invitation and attend the event. Our associates, Nestor Suarez and Maria Pinegina, were glad to take part and contribute to the development of business relationships between Bulgaria and Egypt.
Egypt mission representatives headed by ECSD Chairman Mr Motaz Raslan, and the duly authorized representative of the Egyptian ambassador in Bulgaria, Mrs Manal Yehia El Shinau, presented the data on current economic situation and investment opportunities in Egypt.
The leading Egyptian companies specializing in oil & gas industry, gold & stones mining, building, property and golf industry took part in the forum.
African direction is currently becoming increasingly popular in both Europe and worldwide. If you have any business interests lying between Bulgaria and Egypt - NBLO will be glad to assist and help in supporting your plans. For more information, please, contact us.
Advising on an LCIA claim
Suppliers with less bargaining power sometimes accede to arbitration clauses which make bringing or defending a claim prohibitively expensive.
In such cases, it is especially important when acting for the potential claimant (and subject to a judgement on the overall viability of the claim), to offer a cost-effective solution to allow the claim to get off the ground. This may include assessing whether the arbitration clause is likely to be found effective or pathological, and whether it may be permissible and advisable to launch court proceedings instead (which can be more economical especially in their early phases).
It is also helpful to be able to rely on advice which is simultaneously excellent in relation to both the jurisdiction in which enforcement is likely to be sought (e.g., Bulgaria) and the jurisdiction whose governing law the parties have agreed to apply or which applies for another reason.
NBLO recently acted for a potential claimant in such a situation alongside the client's existing Bulgarian counsel to advise on the interplay of the arbitration rules of the London Court of International Arbitration (LCIA) and Bulgarian law and on the mechanics and prospects of a claim. We regularly and successfully collaborate with clients’ existing counsel to achieve the best results for such clients.
© New Balkans Law Office 2020