Arbitral Digest

Matter

Euroins Insurance–Reinsurance S.A. v Insurance Company Phoenix Re AD (Supreme Court of Cassation of Bulgaria, commercial case No. 2789/2024)

Case no.
MAD 32/2023
Seat
Bulgaria
Applicable rules
Rules for Resolution of Disputes Based on Arbitration Agreements of the International Arbitration Court at the Institute of Private International Law
  1. 2 July 2024Bulgaria

    2 July 2024Bulgaria

    Arbitral Award in MAD 32/2023 dated 2 July 2024

    International Arbitration Court at the Institute of Private International Law

    Decision summary
    The tribunal found that the parties’ 9 February 2023 quota reinsurance agreement for motor third-party liability insurance complied with the applicable Bulgarian-law requirements and was valid. It further found that the agreement was lawfully terminated and that Phoenix Re was entitled to retain the minimum deposit premium.

    Supporting details

    2 participants
    Euroins Insurance–Reinsurance S.A.
    Insurance Company Phoenix Re AD
    International Arbitration Court at the Institute of Private International Law

    1 year, 9 months and 18 days later · 657 days

  2. 20 April 2026Bulgaria

    20 April 2026Bulgaria

    Decision No. 105 of the Supreme Court of Cassation of the Republic of Bulgaria in commercial case No. 2789/2024 dated 20 April 2026

    Supreme Court of Cassation of the Republic of Bulgaria

    Case no.
    2789/2024
    Decision summary
    The Supreme Court of Cassation dismissed Euroins Insurance–Reinsurance S.A.’s claims to set aside the 2 July 2024 arbitral award on grounds concerning the validity of the arbitration agreement, notice of the arbitrator’s appointment, constitution of the tribunal, and the arbitral procedure. It held that the arbitration clause was autonomous, the tribunal was constituted in accordance with the parties’ agreement and applicable rules, and complaints about evidence and reasoning concerned the merits rather than a statutory annulment ground. Euroins was ordered to pay EUR 12,767,497.98 in state fees, and the decision is final.

    Supporting details

    5 authorities · 11 participants
    Euroins Insurance–Reinsurance S.A.
    Representative
    CHITR – Bucharest Branch, SPRL (For: Euroins Insurance–Reinsurance S.A.)
    Representative
    A. – N. P. (For: Euroins Insurance–Reinsurance S.A.)
    Representative
    E. (For: Euroins Insurance–Reinsurance S.A.)
    Representative
    N. (For: Euroins Insurance–Reinsurance S.A.)
    Insurance Company Phoenix Re AD
    Representative
    R. G. (For: Insurance Company Phoenix Re AD)
    Supreme Court of Cassation of the Republic of Bulgaria
    Other
    Court Reporter
    Silviana Shishkova

    Authorities cited

    5
    • Bulgarian International Commercial Arbitration Act
      statute
    • Bulgarian Obligations and Contracts Act
      statute
    • Bulgarian Civil Procedure Code
      statute
    • Decision No. 60101 of 27 July 2021, commercial case No. 347/2021, Supreme Court of Cassation, Second Commercial Division (Decision No. 60101 of 27 July 2021, commercial case No. 347/2021)
      case
    • Decision No. 35 of 29 January 2025, commercial case No. 1585/2023, Supreme Court of Cassation, First Commercial Division (Decision No. 35 of 29 January 2025, commercial case No. 1585/2023)
      case

Matter record

Report a correction

Euroins Insurance–Reinsurance S.A. v Insurance Company Phoenix Re AD (Supreme Court of Cassation of Bulgaria, commercial case No. 2789/2024) · Matter