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"One of Bulgaria’s biggest challenges, but simultaneously one of the biggest positive developments, is the country’s intention to join the European Exchange Rate Mechanism," says CMS Partner Elitsa Ivanova. "This is basically the waiting area for the Eurozone and the EU banking union."

Bulgaria, along with the entire CEE region, has been experiencing a surge in investment and transactions over the past two to three years. Prior to that, hit by a late wave of the global recession, Bulgarian business faced problems with over-indebtedness, resulting in a large number of insolvencies, especially in the real estate sector. Since then, however, insolvencies have been decreasing. Thus, the recent uptick in the number of insolvency procedures being initiated in a particular sector – energy – deserves special focus and attention.

Two concentrations recently prohibited by the Bulgarian Commission for the Protection of Competition with limited analysis have been widely criticized for their lack of valid economic arguments. Because both decisions were highly publicized and concern the politically sensitive sectors of media and energy, they are worth special attention.

The particularly-challenging nature of CEE law firm marketing becomes especially relevant as we bid adieu to a good friend in Bulgaria, who, after more than four years doing law firm marketing and business development with several of Bulgaria’s leading law firms, is leaving the profession altogether. We asked her some final questions on her last day, honoring her request for anonymity in the process.

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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