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"Bulgaria transposed the Restructuring Directive's prohibition to terminate contracts via ipso facto clauses, but also (deviating from the Directive) prohibited contractual set-off in restructuring, thus rendering the preservation of many contracts performed via contractual set-off / netting of payment meaningless. So, in drafting ipso facto clauses the impossibility to perform contracts in restructuring, due to the contractual set-off prohibition, may be utilised as an additional trigger for termination, now".

E+H, working with Simpson Thacher & Bartlett, Gleiss Lutz, Loyens Loeff, and Linklaters, has advised the Takko Fashion group on its financial restructuring and refinancing transactions that saw its bondholders acquiring a majority stake in the group. Freshfields Bruckhaus Deringer, working with Arendt & Medernach, advised the ad hoc group of noteholders.

Bulgaria's economic landscape appears to be evolving rapidly, driven by a proactive government and a series of long-overdue legislative reforms, according to Kinstellar Partner Nina Tsifudina. From changes in the available company forms to alignment with EU regulations and the anticipation of eurozone integration – all these keep the country’s markets buzzing, with movements in the banking and telecommunication sectors leading the charge.

Hule Bachmayr-Heyda Nordberg has advised the Wintersteiger Group on its restructuring where the company's sports, woodtech, seedmech, and operations divisions were spun off into four subsidiaries, with the parent company being renamed as Wintersteiger Holding AG.

Law of Ukraine “On Amendments to the Bankruptcy Code of Ukraine on the Application of Bankruptcy Procedures during the Period of Martial Law” No. 3249-IX dated 13 July 2023 (“Law”) entered into force on 29 July 2023.

In the realm of legal matters in the Republic of North Macedonia, the concept of "bankruptcy for individuals" that exists in Western countries is completely unknown. Here, a person burdened with debt could find themselves perpetually trapped, facing an ever-growing debt that seems impossible to escape.

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