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2003
Plama v. Bulgaria Plama Consortium Limited v. Republic of Bulgaria (ICSID Case No. ARB/03/24)
Nationality of the parties
Bulgaria
Cyprus
Summary of matters at issue
Purchase of capital in a local joint-stock company, Nova Plama AD, which owned a local oil refinery.
Claims arising out of the Bulgarian government, national legislative, judicial authorities, and other public authorities and agencies' alleged damage to the operation of the investor's refinery, as well as their refusal or unreasonable delay in adopting adequate corrective measures.
Economic sector and subsector
Secondary: C - Manufacturing
19 - Manufacture of coke and refined petroleum products
Arbitral rules and administering institution
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Composition of tribunal
Salans, C. F.
van den Berg, A. J.
Veeder, V. V.
Status/Outcome of original proceedings
Decided in favour of State
Amount of compensation
146.00 mln USD
Data not available
IIA breaches alleged/found
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Arbitrary, unreasonable and/or discriminatory measures

Other
None - all claims dismissed at the merits stage
Follow-on proceedings
None
Link to Italaw's case page