Djingov Gouginski Kyutchukov & Velichkov has successfully represented the Miele Center Max Group before the Commission on Protection of Competition in antitrust proceedings initiated against Miele Bulgaria.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and stay up to date with the latest developments impacting their respective practice areas. 

Although companies’ financing in Bulgaria remains primarily bank-based, a transformation towards the growing importance of alternative financing has been observed in recent years. 

The EU Directives on Work-life balance and on Transparent and predictable working conditions were introduced into the Bulgarian national legislation in August 2022 and brought about significant changes and obligations for the employers. What do they mean for businesses?

Wolf Theiss, working with Ropes & Gray, has advised Astorg on the separation of price-reporting agency Fastmarkets from businesss and financial information company Delinian.

Eversheds Sutherland member Tsvetkova Bebov & Partners has advised the Bulgarian-American Credit Bank on a EUR 15 million private placement of senior non-preferred MREL notes.

On May 25, 2023, CEE Legal Matters reported that Hristov & Partners had advised e-commerce-focused digital company Aiopsgroup on its sale to IT development and services tech group Valantic. CEELM reached out to Hristov & Partners Partner Pavel Hristov to learn more about the deal. 

Bulgaria is experiencing a wide plethora of legislative changes, from employment law and artificial intelligence all the way to the commercial sector, IT, and ESG, according to Deloitte Legal Country Legal Leader and Senior Managing Associate Zvezdelina Filova.

Tokushev and Partners has advised non-banking financial company IpoTech Sofcom on its IPO on the BEAM growth market of the Sofia Stock Exchange.

Kinstellar, working with William Fry and Simpson Thacher & Bartlett, has advised human capital management cloud company UKG on its acquisition of payroll provider Immedis.

The end of the COVID-19 pandemic led to growth in the commercial real estate market in Bulgaria. So far, the biggest winners are the office, industrial, and logistics sectors, since most investors and retailers are still hesitant about the future of shopping centers. According to the latest reports, the available office space in Bulgaria increased by 7% in the second half of 2022, and more than 180,000 square meters of office space were leased during the same period, the highest amount since 2017.

An in-depth look at Victor Gugushev of Gugushev & Partners covering his career path, education, and top projects as a lawyer as well as a few insights about his as a manager at work and as a person outside the office.

The political turbulence within and beyond Bulgaria has not only caused unpredictability in the regulatory environment but also drastic changes in the national energy sector. Following the Russian invasion in Ukraine, Bulgaria took steady steps to break its dependence on Russia as a single supplier of natural resources.

On May 4, 2023, the Bulgarian Whistleblower Protection Act (the Act), which transposes Directive (EU) 2019/1937 of the European Parliament and of the Council on the protection of whistleblowers for violations of Union law (the Whistleblowing Directive) will enter into force.

Bulgaria’s infrastructure sector has seen major projects completed and many more are planned. With the country facing political turmoil and corruption still an infrastructure buzzword, Kinstellar Partner Antonia Mavrova and Gugushev and Partners Senior Partner Victor Gugushev navigate the intricacies of Bulgarian infrastructure.

For Bulgaria’s capital markets, the past ten years saw several landmark developments, large IPOs, and programs and initiatives tailored for small and medium-sized enterprise needs. Penkov Markov & Partners Associated Partner Boris Lazarov, Djingov Gouginski Kyutchukov & Velichkov Partner Gergana Monovska, and Tokushev and Partners Managing Partner Viktor Tokushev walk us through the highlights.

CMS has helped Global Biomet obtain a license for a photovoltaic plant in its portfolio – the 100-megawatt AC capacity Aratiden project – before the Bulgarian State Energy and Water Regulatory Commission.

In June 2023, Boyanov & Co announced that the sale of BNP Paribas Personal Finance Bulgaria to Eurobank (reported by CEE Legal Matters on February  14, 2023) had closed.