Oman waits on ICSID Bulgaria case

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.