Twitter Logo Youtube Circle Icon LinkedIn Icon

The Legal 500 Hall of Fame Icon The Legal 500 Hall of Fame highlights individuals who have received constant praise by their clients for continued excellence. The Hall of Fame highlights, to clients, the law firm partners who are at the pinnacle of the profession. In Europe, Middle East and Africa, the criteria for entry is to have been recognised by The Legal 500 as one of the elite leading lawyers for seven consecutive years. These partners are highlighted below and throughout the editorial.
Click here for more details

Bulgaria > Legal Developments > Law firm and leading lawyer rankings


Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or


European order for payment

The European Union aims to create, maintain and develop an area of freedom, security and justice in which the free movement of persons is guaranteed. In order to achieve this objective and in order to ensure the proper functioning of the internal market, the Union provides the adoption of measures in various fields, one of which is the field of judicial cooperation and civil matters having cross-border implications.

The challenges of inheriting shares in a limited liability company in Bulgaria

75 % of the small to mid-size companies in Bulgaria are owned by families and their development has a significant role in defining the economy of the country. In the EU, family owned businesses represent more than 60% of all registered companies and ensure over 40% of the overall employment.

GDPR - Where did that come from?

Owing to our hard work on matters, related to the GDPR by assisting our clients with regard to the new policies required, we thought it would be interesting to highlight the ideas and grounds, hidden behind the new data protection requirement. Lately we've been working for companies, striving to become compliant with the new Regulation, which already entered into force on 25th of May 2018. The article draws attention to the relevant consecutive ongoings, which describe the necessity of a regulation, containing the best principles from the previous ones on the one hand, and guaranteeing adequate level of protection on the other.

Why Don’t We Have the Will to Improve the Investment Climate?

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.

Violation of Inheritance Rights over Shares in Limited Liability Companies

It is a well-known fact that the limited liability company (LLC) was ‘invented' by German legislators more than 110 years ago as a harmonious combination of an intuitu perosnae and a shared capital company. As a legal form of incorporation, the LLC best serves the interests of small and medium-sized enterprises (SMEs) and, owing to the flexibility of its model, has grown into the most common form preferred by natural persons who have come together to pursue a common economic activity.




Legal Significance of Entries into the Book of Shareholders

The Book of Shareholders is one of the most important documents in a shareholding company, of great significance for the lawful conduct of business and for protecting shareholders' rights. Despite that fact, the provisions of the Bulgarian Commerce Act governing such an important document for any company are rather scant and utterly insufficient and for more than 20 years since the adoption of CA continue to prompt disputes that on occasion even result in controversial decisions of the Supreme Court (of Cassation).


Freight Forwarder’s Liability for Cargo Lost by Carrier

December 2013 - Transport. Legal Developments by Penkov, Markov & Partners.

More articles by this firm.

Although the forwarder is by no means a new concept under Bulgarian law and although public relationships in the context of freight forwarding services are largely settled, some regulatory gaps that need filling still exist. These are largely due to ever increasing expectations and requirements on the part of consignors, as well as increasingly fierce market competition - factors that force forwarders to undertake certain commitments at the pre-contractual phase that they are not prepared to fulfil when providing the actual service.


Competition Legislation Imposes New Restrictions on Business

On 14 June 2012, the Ministry of Economy, Energy and Tourism published on its Internet site draft amendments to the Protection of Competition Act and respective reasons.

Protection of Business Transactions in Case of Insolvency

One natural consequence of the economic crisis is the steadily growing number of bankruptcy proceedings. An effective means of protecting the interests of creditors in such proceedings is the introduction of the principle of nullity of transactions concluded during the so-called ‘suspicious period', directly following the initial date of insolvency (or, respectively, over-indebtedness).

Omissions in the energy strategy disturb the investment climate

In a previous article, I asked the question of whether the State is “for” or “against” green energy. The latest amendments to the law of April 10, 2012, as well as subsequent decisions by the State Energy and Water Regulatory Commission (SEWCR) confirmed that the State takes a stand against wind and photovoltaic power generation.

Interview with...

Law firm partners and practice heads explain how their firms are adapting to clients' changing needs

International Law Firm Networks

International comparative guides

Giving the in-house community greater insight to the law and regulations in different jurisdictions.

Select Practice Area

GC Powerlist -