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Stockholm Arbitration Report (SAR) - (Individual Back Volumes)
Stockholm Arbitration Report (SAR) - (Individual Back Issue)
Preview Page SAR 2000 - 2
Subject-matter:
Confidentiality in international arbitration in Sweden.
Findings:
A party to arbitration proceedings cannot be deemed to be bound by a duty
of confidentiality, unless the parties have concluded an agreement
concerning this.
Parties: A.I. Trade Finance Inc. (“AIT”) (USA) Bulgarian Foreign Trade
Bank (“Bulbank”)
(Bulgaria) GiroCredit Bank Aktiengesellschaft der Sparkassen
(“GiroCredit”) (Austria)
Place of arbitration: Sweden
Place of court procedures: Sweden The case was reported in Mealey’s
International Arbitration Report (Spring 1997, spring 2001), Nytt Juridiskt
Arkiv (NJA) 1997, p. 866.
SUMMARY
I. The Arbitration
On 26 August 1983, a loan contract was concluded between Bulbank and
GiroCredit. By the contract, GiroCredit made credits, subsequently
increased to 350 million Austrian Schilling, available to Bulbank. In
accordance with the provisions of the contract – “Applicable law and
arbitration”- the contract was to “be governed according to the law of
Austria, including Austria’s rules on the conflict of laws.” Disputes by
