An Arbitration Mystery and Bulgaria’s Rule of Law: How Arnold & Porter Gave Away the Existence of a Secret Deal

Almost two years ago I started radosvetavassileva.blog to expose Bulgaria’s deteriorating rule of law. Sadly, the situation has exacerbated, so there are even more topics to write about. Inasmuch as I dislike this development, the only way forward is to keep denouncing the abuses and the rampant corruption. I would like to thank everyone who has supported me, everyone who follows my blog and all wonderful people who have gotten in touch to provide feedback and give me ideas.

To celebrate my blog-versary, I decided to shed light on an ICSID arbitration case which is more interesting from a rule of law perspective than from an arbitration perspective. The moral of the story is that spreading false information or half-truths eventually catches up on you no matter whether you are a famous law firm like Arnold & Porter, Bulgaria’s central bank (the Bulgarian National Bank) or Bulgaria’s Ministry of Finance. One definition of half-truth is “a statement that is only partly true, especially one that is intended to keep something secret.” This seems to be Arnold & Porter’s case in this scenario.

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