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Legal market overview
M&A activity remains static, with notable deals few and far between and the most eye-catching instructions tending to be the Bulgarian elements of much larger transactions, such as Novartis’ global acquisition of a number of GSK portfolios. Domestically, perhaps the most conspicuous recent mandate has been AP Mart’s purchase of the Piccadilly store chain from Delhaize, which returned a major domestic brand to Bulgarian ownership.
Despite this relatively bleak outlook, marked in the energy sector by the government’s withdrawal in February 2015 of incentives for new renewables projects, the formation of Kinstellar in November 2014 (by a team of lawyers who broke away from highly regarded central and eastern European firm Wolf Theiss) was an indication that sophisticated cross-border advice is still in demand. This addition brought the number of international firms with significant Sofia operations to six, with CMS and Schoenherr (in cooperation with Stoyanov & Tsekova) (as well as Wolf Theiss) figuring alongside the much smaller offices of fellow central European specialists CHSH Cerha Hempel Spiegelfeld Hlawati and Peterka & Partners Law Firm.
Domestic firms are a broad mix of large, longstanding partnerships formed around 1989, and small to medium-sized players, often younger, with some notable niche strengths. Mainstays of the market, in the former category, include Boyanov & Co and Kambourov & Partners, who acted for Novartis and AP Mart respectively in the deals mentioned above, and also Djingov, Gouginski, Kyutchukov & Velichkov. Among smaller firms, DTT (Dimitrov, Tchompalov & Todorova) has a market-leading capital markets practice; CasePro has exceptional technology sector early-stage finance capabilities; and Danailova, Todorov & Partners stands out in transport.
Firms in the spotlight
Delchev & Partners
Delchev & Partners is a prime, full service, commercial law firm, based in Sofia, Bulgaria. Delchev & Partners’ legal solicitors provide comprehensive legal and tax services and solutions to multinational corporations operating in Bulgaria, closely held foreign and Bulgarian businesses, local entrepreneurs, exempt organizations and individuals. Our experienced lawyers in Bulgaria will assist you with any legal issues that you or your business in Bulgaria is facing
Legal Business: country analysis
Breaking new ground – advisers hope shale revolution can restart CEE market
Weighed down by political unrest and slowing economies, energy and infra projects look like one area to be driving
the CEE economy. Can the shale revolution power up
Click here to read the feature.
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All investors, especially those from abroad, when asked about the investment climate in the country indicate a number of factors, besides tax rate, that influence their overall assessment. These factors relate to different areas of business and life in general, but have so far unfortunately gone unnoticed by governments.
OVER-INDEBTEDNESS IN THE BANKRUPTCY PROCEEDINGS
POSTPONEMENT AND DEFERRAL OF PUBLIC LIABILITIES
The New Provisions on Gambling in Bulgaria
FEES AND EXPENSES IN THE CIVIL PROCEEDINGS
Protection of the creditors in the liquidation procedure
The present article deals with the question of who is to be invoiced and who is VAT liable if a taxable person in Bulgaria supplies services to and for the benefit of a trade representative office -established in Bulgaria - of a foreign entity.bu
used mileage points interpreted as sales allowance deductible from tax base- Lee & Ko
Head of VEGAS LEX PPP and Infrastructure practice Denis Shtirbu moderated the session on transport cooperation and logistics at The Moscow Times conference, Doing Business with China. New Horizons for Business Cooperation: Russia – China .
GRP Rainer Rechtsanwälte has once again received awards, this time for the year 2017, from Corporate INTL for best law firm in the fields of commercial law and tax law in Germany.
The members of a sisterhood may also fall within the ambit of the regulations pertaining to what is termed labour leasing or temporary employment. That was the verdict of the Court of Justice of the European Union (CJEU) in its ruling of November 17, 2016 (Az.: C-216/15).
Barcelona – Gonzalo Butori and Graziano Cecchetti, Partners at the newly opened Giambrone Barcelona office, attended the 4 th edition of the International Trade Fair of the Legal Profession held by the Barcelona Bar Association (ICAB) on February 16 th and 17 th .
America’s Federal Bureau of Investigation (FBI) announced its intention of pursuing organisations involved in binary options fraud across the globe. The FBI’s Complex Financial Crimes Unit will seek to draw on the relationships that it has forged with law enforcement agencies worldwide to pursue and bring down the fraudulent organisations that prey on innocent victims and leave a trail of destruction in their wake.
VEGAS LEX experts have discussed procedural specifics of supporting cartel damage disputes at a Pravo.ru conference on judicial practice in 2016 and important 2017 trends.
NautaDutilh assisted Raizen Fuels Finance S.A., as issuer on its USD 500 million 5.3% senior notes offering which successfully closed on 20th January. The issuer is part of the Brazilian Raizen group, the world largest individual producer of sugar cane. The Raizen group also operates a network of more than 5,800 Shell-branded stations in Brazil.
Goltsblat BLP , the Russian practice of international law firm Berwin Leighton Paisner (BLP), has advised ICBC International Leasing , the leasing subsidiary of the world’s biggest financial group, on delivery of six Airbus A321-211 aircraft to Aeroflot.
Seriously offending one’s work colleagues constitutes good cause justifying exceptional notice of dismissal with immediate effect. That was the verdict of the Landesarbeitsgericht (LAG) Rheinland-Pfalz [Regional Labour Court of Rhineland-Palatinate] (Az.: 4 Sa 350/15).