Boyanov & Co. Partner Kina Chuturkova highlights progress made in Bulgaria in terms of reforming the judicial system but areas where improvements are still needed remain.
Bulgaria’s Schengen Path
After years of preparation, Bulgaria’s integration into the Schengen area marks a significant moment, with the lifting of border controls at air and sea entry points as of March 2024. Boyanov & Co Managing Partner Borislav Boyanov, Dinova Rusev & Partners Managing Partner Ivelina Cherneva, Djingov, Gouginski, Kyutchukov & Velichkov Partner Anton Krustev, and Gugushev & Partners Senior Partner Victor Gugushev discuss Bulgaria’s pursuit of Schengen integration.
Boyanov & Co Advises UniCredit and UBB on Financing Plastchim-T's Acquisition of Manucor
Boyanov & Co, working with Gianni & Origoni, has advised UniCredit Bulbank and the United Bulgarian Bank on their financing for Plastchim-T's acquisition of Manucor.
Boyanov & Co. and DGKV Advise Synechron on Acquisition of Dreamix
Boyanov & Co. has advised digital transformation consultant Synechron on its full acquisition of Bulgarian developer Dreamix. Djingov Gouginski Kyutchukov & Velichkov advised Dreamix and its nine shareholders on the sale.
Boyanov & Co. Advises Eurobank on EUR 61 Million Financing for Galleria Burgas and Galleria Stara Zagora
Boyanov & Co. has advised the Eurobank group on its EUR 61 million general corporate purposes financing for Galleria Burgas EAD and Galleria Stara Zagora EAD, which own and manage the Mall Galleria Burgas and Mall Galleria Stara Zagora shopping centers in Bulgaria. Dentons reportedly advised the lenders as well.
Closing: Borealis' Acquisition of Integra Plastics Now Closed
Boyanov & Co recently announced that Borealis' acquisition of Integra Plastics (reported by CEE Legal Matters on December 8, 2023) had closed on March 29, 2024.
Dentons and Boyanov & Co Advise on Project Financing for Maglizh Solar Plant in Bulgaria
Dentons and Boyanov & Co have advised UniCredit Bulbank, Raiffeisen Bank International, the United Bulgarian Bank, and Eurobank Bulgaria on the financing for the construction and operation of a 160-megawatt solar plant in Maglizh, in the Stara Zagora region of Bulgaria. Stoeva Tchompalov & Znepolski reportedly advised the borrowers.
Guest Editorial: Lawyering in Interesting Times – A CEE Perspective
In an era of unprecedented challenges, the legal profession in Central and Eastern Europe (CEE) is at the forefront of navigating these turbulent times. We face a vast array of challenges, including wars, the rise of nationalism, global tensions, energy crises, economic uncertainties, pandemics, climate change, and the rapid pace of digital transformation. Each of these significantly impacts both our lives and profession.
Foreign Direct Investment Screening Regime is Introduced in Bulgaria
On February 22, 2024, Bulgaria, previously one of the few remaining EU countries without foreign direct investment (FDI) controls, introduced a new FDI screening regime in accordance with the EU FDI Screening Regulation 2019/452 (the “EU FDI Screening Regulation”).
Working with the Unified Portal for e-Justice: Improvements and Practical Issues
Three years after its launch, e-Justice in Bulgaria is still under construction and improvement and has not yet reached its final form.
How to Handle Disciplinary Dismissals Situations
Employment contracts can only be terminated on specific grounds listed in the Bulgarian Labor Code. There are over 50 grounds for termination, each with its unique facts, documents, and procedures.
Closing: Sale of Cargo-Partner Subsidiaries to Nippon Express Now Closed
On January 4, 2024, Boyanov & Co announced that the EUR 1.4 billion sale of Cargo-Partner subsidiaries to Nippon Express (reported by CEE Legal Matters on May 17, 2023) had closed.
Schoenherr Advises Borealis on Acquisition of Integra Plastics
Schoenherr has advised Borealis AG on the agreement to purchase Bulgarian polyethylene and polypropylene recycler Integra Plastics. Boyanov & Co and CMS reportedly advised on the deal as well.
TBP and White & Case Advise Energo-Pro on USD 300 Million Bond Issuance
Eversheds Sutherland member Tsvetkova Bebov and Partners, working alongside White & Case, has advised Energo-Pro on an issue of USD 300 million bonds due 2028. Reportedly, BLC Law Office and GKC Partners advised on the issuance as well while Allen & Overy, Boyanov & Co, and Gedik Eraksoy advised the banks involved.
Can Security be Held by an Agent in Bulgaria?
Why do we need an agent to hold the security in the first place?
Boyanov & Co and Schoenherr Advise on Aurelius Group Acquisition of Lufthansa’s Catering Operations in Bulgaria
Boyanov & Co has advised the Aurelius Group on its acquisition of Lufthansa’s catering operations in Bulgaria. Schoenherr advised Lufthansa.
Tsvetkova Bebov & Partners Advises Villeroy & Boch on Acquisition of Bulgarian Ideal Standard
Eversheds Sutherland Bulgarian member Tsvetkova Bebov & Partners, working alongside Freshfields Bruckhaus Deringer, has advised Villeroy & Boch on the acquisition of Bulgarian Ideal Standard- Vidima AD, part of the Ideal Standard Group. White & Case and Boyanov & Co reportedly advised the sellers.
Obligatory Mediation in Civil and Commercial Court Proceedings
Under the current legislation, mediation as an alternative method of dispute resolution is voluntary. The amendments adopted in the State Gazette, No. 11 of 2023, which enter into force on 1 July 2024, introduced two categories of obligatory mediation in civil and commercial court proceedings: