ASSIGNMENT OF AN ARBITRATION CLAUSE – IS DEBTOR’S CONSENT REQUIRED? THE BULGARIAN SUPREME COURT OF CASSATION HAS MADE ITS FINAL DECISION

30 April 2024 ASSIGNMENT OF AN ARBITRATION CLAUSE – IS DEBTOR’S CONSENT REQUIRED? THE BULGARIAN SUPREME COURT OF CASSATION HAS MADE ITS FINAL DECISION

In an interpretative judgment rendered on 21 February 2024 (“Interpretative Judgment”), the highest court of Bulgaria had the occasion to decide whether, in case of an assignment of rights under a contract, the arbitration agreement contained in the contract is transferred automatically to the assignee so that such arbitration agreement becomes effective and binding in the relationship between the assignee and the debtor. The court adopted the widely recognized principle of automatic transfer of the arbitration agreement along with the rights under the main contract, settling the matter conclusively.

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