DGKV has advised a consortium of lenders including the London-based investment firm Blantyre Capital Limited, the EBRD, and the Bulgarian Development Bank on the financial restructuring of Bulsatcom EAD – the largest Bulgarian TV and satellite operator. Kirkland & Ellis advised Blantyre Capital and Bulgarian Development Bank on matters of English law and Pillsbury Winthrop Shaw Pittman advised the EBRD. Bulsatcom was advised by Bulgarian solo practitioners Gergina Kyoseva and Liliya Tsoncheva.
According to DKGV, the “work involved an enforcement by means of appropriation, enforcement under Bulgarian law, the subsequent restructuring of approximately EUR 80 million of existing debt, assistance on settlement and restructuring of commercial debts in excess of EUR 200 million and the advancement of EUR 30 million of new secured debt to the Bulsatcom corporate group.”
The DGKV team was led by Partner Georgi Tzvetkov and included Partner Nikolai Gouginski and Senior Associate Kaloyan Krumov.