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In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. Shifting our focus to the financial aspects of legal work, we asked: What percentage of your issued bills end up being overdue, what percentage end up never paid, and what is your firm’s/office’s standard methodology to handle both cases?

In light of the constantly and rapidly changing world climate, there was a need for changes to provisions in labor law that have not been updated for years, namely on minimum wages and payment of salary.

Eversheds Sutherland member Tsvetkova Bebov & Partners, working with Clifford Chance, has advised the Republic of Bulgaria on a dual-tranche EUR 2.3 billion sovereign bond issuance. Linklaters and DGKV reportedly advised joint lead managers BNP Paribas, Credit Agricole CIB, Deutsche Bank Aktiengesellschaft, and JP Morgan.

We're sending off 2023 with the news that by the beginning of next year at the latest we will finally have a new European regulation on artificial intelligence (AI) coming into force within two years (the EU AI Act). On 14 June 2023, the European Parliament approved its negotiating position on the EU AI Act and since then, the talks have begun with EU countries in the Council on the law's final form. The EU AI Act is intended as a fundamental and harmonizing legislative text. But is it really so and what do we read between the lines in the new regulation?

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.

Dimitrov, Petrov & Co has advised TPXImpact Holdings on the sale of its subsidiaries Questers Resourcing and Questers Bulgaria to Estonia-based software developer Nortal. Reportedly, Charles Russell Speechly and Konecna & Zacha advised Nortal.

Djingov Gouginski Kyutchukov & Velichkov has advised TokWise on its EUR 3 million equity investment round led by Encavis and including Vitosha Venture Partners-Fond I KD, KIC InnoEnergy SE, and Innovation Capital Fund KDA. Georgiev & Kolev advised Vitosha Venture Partners. CMS reportedly advised Encavis.

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.

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 15 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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