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"The overall situation in the country — political, financial, social, and so on, which largely determines business (and thus our business)", says Sergey Penev, the Managing Partner of Penev LLP, "may be considered ‘terrible’ for much of Europe, but in Bulgaria it’s pretty stable." The country is in the top 3 or 4 in terms of GDP to debt radio, he says, suggesting that in fact things are not as bad as some claim.

Kinstellar has provided local law advice in Bulgaria, Romania, Turkey, and Ukraine to Arkema SA on its acquisition of the Dutch sealant-and-adhesives maker Den Braven from Egeria, a Benelux buyout house. The deal, which was valued at EUR 485 million, was managed by Loyens & Loeff.

The Buzz is a short summary of the major and relevant topics of interest in Central and Eastern Europe, provided by those best positioned to know: law firm partners and legal journalists/commentators on the ground in each CEE country.

Georgiev, Todorov & Co. (GTC), working with Sidley Austin, has successfully represented the Russian company Atomstroyexport in a dispute with the Bulgarian National Electric Company (NEC) before a three-member panel of the International Court of Arbitration at the International Chamber of Commerce in Geneva involving the Belene nuclear power plant. NEC was represented by White & Case.

Richard Clegg is a Partner at Wolf Theiss, based in Sofia, working throughout CEE/SEE.

A corporate and regulatory lawyer, he has particular specialization in the telecommunications, technology, and regulated industries and advises on transaction, regulatory, and compliance matters, often in sensitive or challenging circumstances.

The Buzz is a short summary of the major and relevant topics of interest in Central and Eastern Europe, provided by those best positioned to know: law firm partners and legal journalists/commentators on the ground in each CEE country.

Women’s Day is behind us, but the subjects of gender equality and equal opportunity are of year-round concern. This, the first part of a special two-part CEE Legal Matters article on women in private practice in CEE, provides the numbers and percentages from leading law firms across CEE, as well as a more thorough snapshot of one representative market. Part II of the report, in the June issue, will pull back the curtain even more, providing feedback and perspectives from lawyers across the region.

On October 6, 2015, the Court of Justice of the European Union (CJEU) issued its judgment on the Maximillian Schrems vs Data Commissioner case (the “CJEU Decision”). Within the week, dozens of client alerts circulated from law firms describing the impact of the decision on companies operating within EU member jurisdictions and beyond. What follows here is a review of pressing issues in various CEE jurisdictions, considering this decision and its ramifications. 

Freshfields has announced that it advised Hewlett-Packard Company on its global division into two separate listed companies - the largest division of a technology company ever.

The Cathay Associates network of law offices, which was launched by the Chinese boutique Kejie Law Office in September 2015, reports 9 CEE members. The network was initiated to offer global coverage, with a special focus on China and cross-border matters.

Bulgaria Knowledge Partner

Schoenherr is a leading full-service law firm providing local and international companies stellar advice that is straight to the point. With 14 offices and 4 country desks Schoenherr has a firm footprint in Central and Eastern Europe. Our lawyers are recognised leaders in their specialised areas and have a track record of getting deals done with a can-do, solution-oriented approach. Quality, flexibility, innovation and practical problem-solving in complex commercial mandates are at the core of our philosophy.

Firm's website: www.schoenherr.eu

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