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Bulgaria > Legal market overview > Law firm and leading lawyer rankings
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Bulgaria’s economy remained sluggish in 2016, resulting in a flat M&A market and the ongoing suspension of many infrastructure projects, but lawyers are optimistic, given signs of renewed interest in the real estate sector, particularly from overseas investors, and investment in SMEs by the European Union’s Jeremie fund initiative. There is also growth in private equity funding for start-ups – Sofia has the third largest start-up market in Europe after Dublin and London – and the banks remain well capitalised, having passed recent stress tests.
This year sees the introduction of a new Healthcare and life sciences ranking to reflect growing legal expertise in what is a thriving industry in Bulgaria. The majority of global pharmaceuticals companies and many niche players are represented in Bulgaria, which also has a busy clinical trials sector.
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.
The legal market is fiercely competitive, comprising a handful of large domestic firms and an abundance of smaller two to three-partner practices with valuable expertise; Bulgaria is one of the few CEE jurisdictions where domestic firms still dominate the market. However, regional CEE heavyweights CMS, Schoenherr (in cooperation with Stoyanov & Tsekova), Wolf Theiss and Peterka & Partners Law Firm all have a presence in the country.
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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.
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.
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).
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.
(Recommendation CM/Rec (2011)7 of the Committee of Ministers to member states on a new notion of media)
What is the relevant merger control legislation? Is there any pending legislation that would affect or amend the current merger control rules described below?
1. General overview
Employers ought to tread carefully when it comes to terminating an employment relationship during the probationary period, as a reduced notice period for dismissal only applies if the employment contract has been clearly drafted.
Legal 500, the world’s legal guide to the leading law firms and outstanding lawyers in over 100 jurisdictions, has recently released tiered rankings for the EMEA region for 2017. We are extremely proud that our law Firm is placed in the TOP tier rankings for Cyprus.
Igor Chumachenko for radio Business FM: courts must observe balance of interests of co-investors andVEGAS LEX partner Igor Chumachenko has commented on recovery of damages from developers for failure to meet construction deadlines for Radio Business FM.
Kuoni Travel Holding Ltd, owned by EQT VII, a fund of the private equity group EQT, and the Kuoni and Hugentobler Foundation, has entered into a binding agreement on the sale of its GTD business division (GTA) to Hotelbeds Group, owned by a consortium led by Cinven und Canada Pension Plan Investment Board (CPPIB). The shareholders of Kuoni Group will roll-over a large portion of their participation in GTA into the combined Hotelbeds/GTA business and upon completion, will hold a substantial minority stake in the combined Hotelbeds/GTA business. Completion of the transaction is subject to customary closing conditions, including merger control filings and approvals.
Studio Legale Villata, Degli Esposti e Associati is pleased to announce the forthcoming publication of a volume on the reform of the Italian Public Procurement Code. A number of experts in Administrative and Public Law will contribute to the work, which is coordinated by Professor Villata.
Manager of Life sciences projects Maria Borzova has led a workshop on main trends in administrative and judicial practices in public procurement of medicines.
On 13 April, VEGAS LEX hosted the roundtable discussion “Advertising of Medicines: Good Practice Criteria?” with the participation of FAS Russia's Department for Control over Advertising and Unfair Competition. Major pharmaceutical manufacturers and representatives of professional associations took part in the discussion.
It is possible for a works council to push through the dismissal of an employee, as demonstrated by a recent ruling of the Bundesarbeitsgericht (BAG), Germany’s Federal Labour Court, from March 28, 2017 (Az.: 2 AZR 551/16).
Aziz Rahman explains what those trading internationally need to do to ensure they are not targeted by money launderers.
Health claims in relation to mineral water need to be consistent with the Health Claims Regulation. This was confirmed by the Bundesgerichtshof (BGH), Germany’s Federal Supreme Court, in its ruling of January 30, 2017 (Az.: I ZR 257/15).