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CMS and Bouzeva & Partners Help Negotiate Settlement Between Global Biomet and Sustainable Energy Development Fund

CMS and Bouzeva & Partners Help Negotiate Settlement Between Global Biomet and Sustainable Energy Development Fund

Bulgaria
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CMS has helped Bulgaria's Global Biome settle a multi-million euro renewable energy dispute with the Sustainable Energy Development Fund related to recent changes to Bulgarian legislation. The SEDF was advised by Bouzeva & Partners.

According to CMS, pursuant to changes to Bulgaria's energy legislation that followed a 2016 World Bank study, renewable energy producers in the country were obliged to transition from long-term Power Purchase Agreements to Contracts-for-Premium, with the Sustainable Energy Development Fund topping up the difference between the market price of electricity and the agreed subsidies. According to the firm, the dispute "was successfully settled following six months of negotiations and concessions by the parties."

CMS's team was led by Managing Partner Kostadin Sirleshtov, assisted by Associate Elena Yotova-Yordanova.

The Bouzeva & Partners team was led by Partner Nikolay Daskalov and included Associate Milena Muraveeva.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

Firm's website.