Oman waits on ICSID Bulgaria case
Issue 1006
- 10 Dec 2015
| 4 minute read
The case filed by Oman’s State General Reserve Fund (SGRF) against Bulgaria at the International Centre for Settlement of Investment Disputes (ICSID) drags on, with participants waiting for a tribunal to be constituted (which must happen by end-December), following which tribunal members must be appointed by late January. The SGRF, one of the Gulf’s older sovereign wealth funds, is bringing the claim – said to be worth E150m ($164m) – over the 2014 collapse of Corporate Commercial Bank (Corpbank); the Omanis owned 30% of what was Bulgaria’s fourth largest lender.
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