site.btaJustice Minister, Employers Comment on Possible Register of Commercial Arbitrations

Increasing the credibility of arbitration proceedings and establishing a register of commercial arbitrations at the Ministry of Justice to reduce abuses were discussed by Minister of Justice Georgi Georgiev and representatives of the Association of the Organizations of Bulgarian Employers (AOBE), the Ministry of Justice said.

Improving and updating the legal framework for arbitration institutions is part of the measures related to efforts to increase confidence in the legal system and improve the business climate, Georgiev said, quoted in the message. He stressed the need to create a dedicated register to curb frequent abuses in arbitration cases.

The second measure to increase control is to restore the power of the Supreme Court of Cassation to annul arbitral awards on the grounds that they are contrary to public policy.

The meeting also discussed the need for legislative amendments to allow arbitral tribunals to use the possibilities of electronic justice.

The meeting with representatives of major employers' organizations also discussed the issues of defining a single entry point for the submission of annual reports and speeding up the process of their processing, cost orientation of court fees, e-justice, etc.