By Decision of the Court of Justice of the European Union ("CJEU") of 14.12.2023 in case C‑340/21 the CJEU clarified several controversial aspects of the implementation of the GDPR.
Harrisons, Maric & Co, Lambadarios, Wolf Theiss, and Selih & Partnerji Advise on EUR 1.7 Billion United Group Refinancing
Harrisons, Maric & Co, Lambadarios, and Wolf Theiss, working with Linklaters, have advised a banking consortium led by UniCredit Bank London on the United Group's EUR 1.7 billion issuance of four tranches of senior secured and PIK notes as well as on the increase and extension of its EUR 410 million revolving credit facility. Selih & Partnerji, working with Paul Weiss, advised the United Group. Schoenherr, Koutalidis, De Brauw Blackstone Westbroek, and Elvinger Hoss Prussen reportedly advised the United Group as well.
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.
CMS Successful for Free Energy Project Oreshets Against Bulgaria's Ministry of Finance
CMS has successfully represented the interests of Free Energy Project Oreshets – formerly owned by CEZ and currently a part of the Eurohold Group – in a dispute against the Bulgarian Ministry of Finance.
Dentons, Binder Groesswang, and DGKV Advise UniCredit Bulbank and EBRD on Financing for Tsenovo Solar Plant
Dentons, Binder Groesswang, and Djingov Gouginski Kyutchukov & Velichkov have advised UniCredit Bulbank and the EBRD on the financing for Enery Development's construction and operation of a large-scale solar plant in north-eastern Bulgaria set to add 112.5 megawatts of solar power generation to the country's electricity system. Schoenherr reportedly advised Enery Development.
Wolf Theiss Advises Real Estate Development on River Park Sofia Project
Wolf Theiss has advised the Real Estate Development company on the development of the River Park Sofia project.
Eversheds Sutherland Advises on Second TBI Bank EUR 10 Million Issuance of MREL Notes
Eversheds Sutherland Bulgarian member firm Tsvetkova Bebov & Partners acted as the single transaction counsel on TBI Bank's December 15, 2023, private placement of MREL notes maturing 2026, with a total value of EUR 10 million.
Boryana Boteva Joins Kinstellar as Sofia Head of Projects & Infrastructure
Former Sabev & Partners Partner Boryana Boteva has joined Kinstellar's Sofia office as a Senior Counsel and its Head of Projects & Infrastructure.
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.
Drakopoulos Joins South East Legal Alliance
Drakopoulos has become a part of the South East Legal Alliance, thus expanding the network’s reach to Athens, Bucharest, and Nicosia.
DGKV Advises Nasekomo on EUR 8 Million Series A
Djingov Gouginski Kyutchukov & Velichkov has advised Nasekomo on the closing of its EUR 8 million Series A equity investment round led by Invenio Partners. DGKV also advised Invenio Partners on the deal.
Did You Know: 2023 CEE Partner Leaderboards
Did you know that while only five lawyers worked on ten or more CEE client matters reported by CEE Legal Matters in 2022, a total of fourteen lawyers reached that level in 2023? The 2023 leaderboard was led by Milos Felgr of Clifford Chance in Prague, who worked on a remarkable 20 CEELM-reported client matters last year, with Alper Onar of Istanbul’s Aksan Law Firm, who worked on 19, close behind. Fellow Turk Kerem Turunc, the Managing Partner of Turunc, worked on 17 reported deals, while Djordje Nikolic of NKO Partners in Belgrade worked on 16, and Tomasz Rogalski of Norton Rose Fulbright in Warsaw worked on 15.
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.
Bulgarian Commission for Protection of Competition to Adopt Block Exemption Decision for Certain Categories Agreements and Concerted Practices with Effect on National Markets
On 30 November 2023 Bulgarian Commission for Protection of Competition (the “CPC”) finally published draft of new decision on group exemption of certain categories of agreements, decisions and concerted practices with effect on national markets (the ”Draft”), such as: vertical agreements and practices, agreements and practices in the motor vehicle sector, specialisation and R&D agreements and practices as well as agreements for transfer of technologies, from the ban under article 15 (1) of the Competition Protection Act (the “CPA”). The latter reflects article 101 (1) of the TFEU.
Bulgaria's Solid Start: A Buzz Interview with Dimitar Kaldamukov of KBDM Law
After a few years of political struggle, Bulgaria seems to be on a good path, with interesting legislative updates on the horizon and promising M&A activity levels, spurred primarily by strong activity in the energy and IT sectors, according to KDBM Law Founding Partner Dimitar Kaldamukov.
Foreclosure Over Cryptocurrency in Bulgaria
Cryptocurrency has been gaining momentum in the recent decade all over the world, including Bulgaria. On one hand, the development of block chain technology and the wide spreading digitalisation in almost every sphere of human life reasonably produced new revolutionary payment means along with the traditional good old money. On the other hand, cryptocurrency rapidly became a symbol of freedom as not being issued and accepted by any central bank or credit institution as well as being easily accessible via Internet literally by every person.
The Debrief: January 2024
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 keep our readers apprised of the latest developments impacting their respective practice areas.
The Corner Office: Budget, Budget, Budget
In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With 2023 marching to an end, we looked ahead and asked about strategies for next year: As the budgeting period is around the corner, compared to 2023, what are the main budgeting lines you expect to increase for 2024 and why?