Bulgarian central bank wins court case against Omani state fund
BNB says Washington tribunal ruled it acted properly in closing down bank
An international arbitration tribunal in the US has ruled in favour of Bulgaria’s central bank against a claim brought by Oman’s State Reserve Fund.
The Omani government fund had filed a lawsuit with the International Centre for the Settlement of Investment Disputes in 2015. Icsid is an international tribunal established by the World Bank and based in Washington, DC.
The lawsuit alleged that the central bank had violated standards on treating foreign investors when it resolved Bulgaria’s
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