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Spasov & Bratanov

35 SLAVYANSKA STREET, 1000 SOFIA
Tel:
Work +359 2 980 1808
Fax:
Fax +359 2 980 2510
Web:
www.sbn-law.com
Email:

What we say about the firm's legal practice in Bulgaria

Banking and finance

Within Banking and finance , Spasov & Bratanov is a first tier firm,

Spasov & Bratanov’s versatile banking and finance practice handles an eclectic mix of transactions including asset, project and corporate finance for a predominantly international roster of banks. Despite a general slowdown in activity among financial institutions, the EBRD continues to be busy in the region and recently instructed the firm in relation to the financing requirements for the Galetria Stara Zagora shopping mall. Other highlights included advising BNP Paribas on its unsecured €250m bridge loan financing for NEK on the NPP Belene project, Bulgaria’s largest energy project to date. Other major banking clients include Citibank, Credit Suisse, HSBC and DZ Bank. Formerly in-house at the EBRD, ‘the very talented’ Vassil Hadjov has an excellent reputation in the market, while Georgi Spasov offers a ‘very prompt and excellent service’.

Capital markets

Within Capital markets , Spasov & Bratanov is a first tier firm,

At Spasov & Bratanov, Georgi Spasov and Vassil Hadjov are the primary contacts for capital markets work. Instructed by a predominantly underwriter-focused array of clients, the firm recently advised DZ Bank on a proposed EMTN programme by DSK Bank. Other work included advising Citibank on the passporting of several EU collective investment schemes.

Corporate and M&A

Within Corporate and M&A , Spasov & Bratanov is a second tier firm,

Headed by ‘skilled and inventive’ managing partner Georgi Spasov, Spasov & Bratanov’s small corporate team punches above its weight and is regularly engaged in significant M&A transactions on behalf of both corporates and private equity sponsors. For example, it recently represented MTG Modern Times Group on its acquisition of New Television – First Private Channel and associated companies, Bulgaria’s largest TMT transaction to date. The practice has excellent LBO capabilities and provides ‘excellent legal analysis’ to an impressive roster of institutions, including Apax Partners, Charterhouse Capital Partners and Goldman Sachs.

Legal market overview

Within Legal market overview,

Domestic leviathans Borislav Boyanov & Co and Djingov, Gouginski, Kyutchukov & Velichkov continue to dominate the legal landscape, though firms such as Spasov & Bratanov, Tsvetkova Bebov & Partners (Landwell) and Kambourov & Partners are increasingly viewed by domestic and international corporates as viable alternatives. Of the foreign law firms in the market, CMS Cameron McKenna in cooperation with Petkova & Sirleshtov Law Office continues to blaze a trail and has successfully embedded itself in the market, gaining mandates not only from clients of the network but also increasingly from domestic corporates. Austrian-headquartered firm Schönherr and international heavyweight Rizova & Partners Law Firm (part of DLA Piper) continue to go from strength to strength and are also gaining market share. While there is still some uncertainty surrounding the right of foreign firms to practise in the region (the competition case brought by leading domestic firms is pending before the ECJ in Luxembourg) it is a widely held view, based on recent statements coming from Europe, that the decision will be in favour of the foreign firms.

Privatisation, PPP and foreign investment

Within Privatisation, PPP and foreign investment, Spasov & Bratanov is a first tier firm,

In addition to its well-established level of expertise advising on utility concessions, Spasov & Bratanov has recently been involved in a significant volume of privatisations. Although the firm is more usually found acting for the bidders, it picked up a significant sell-side mandate when it advised the Privatisation Agency on the sale of the Navibulgar, the Bulgarian maritime fleet. The team also provides a ‘proficient, reliable and hardworking’ service to international corporates from a raft of industry sectors with regard to setting up business operations in Bulgaria.

Projects, energy and natural resources

Within Projects, energy and natural resources, Spasov & Bratanov is a first tier firm,

‘Very focused on getting the job done’, Spasov & Bratanov provides an ‘efficient and commercial service’ to a wide array of stakeholders, including investors, developers and financiers, across a range of energy and infrastructure projects. Oil and gas projects make up much of the work handled by the group, as demonstrated by the firm’s recent work for the project company involved in the Nabucco Gas Pipeline enterprise. On the renewable energy side, solar power projects remain a prominent feature of the group’s workload, as can be seen in its work for EDF Energies Nouvelles on the development, construction and financing of a €200m project in eastern Bulgaria.

What we say worldwide

Please choose another Spasov & Bratanov office to view full details of what we say in that region, or choose from this list to view a specific editorial reference in context.

Bulgaria

Offices in Sofia

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Legal Developments in Bulgaria

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to

  • Merger Control 2010

    What is the relevant legislation and who enforces it? The statutory act setting out the legal framework for merger control is the Law on the Protection of Competition (LPC) (promulgated on 28 November 2008 and effective as of 2 December 2008). The LPC aims to harmonise the domestic regulatory framework with Council Regulation No. 1/2003 and Council Regulation No. 139/2004. It introduces a number of changes compared to the regulatory regime under the abolished Law on Protection of Competition (LPC 1998). In the field of merger control the LPC introduces a new merger control threshold. It sets out in more detail the procedure for review and assessment of concentrations and provides a clear time frame for completion of merger control investigations.
    - Djingov, Gouginski, Kyutchukov & Velichkov

  • TELECOMMUNICATION LAWS AND REGULATIONS 2011

    Has Bulgaria fully implemented the EU 2003 regulatory framework? If Bulgaria has not fully implemented the new regulatory framework, have proceedings been brought against Bulgaria by the European Commission and if so, for which contraventions?
    - Djingov, Gouginski, Kyutchukov & Velichkov

  • Legislative framework 2010

    What is the relevant legislation and who enforces it? The main Bulgarian law regulating public procurement matters is the Public Procurement Act (PPA), in force as of 1 October 2004 adopted by the Bulgarian Parliament (promulgated in the official Bulgarian State Gazette, issue 28 of 2004, as amended from time to time).
    - Sabev & Partners Law Firm

  • Mergers and Acquisitions 2010/11

    Please give a brief overview of the public M&A market in your jurisdiction. (Has it been active? What were the big deals over the past year? Please distinguish between trade buyers and private equity backed deals.)
    - Sabev & Partners Law Firm

  • RECOGNITION OF AND ADMISSION TO ENFORCEMENT OF JUDGMENTS AND JUDICIAL ACTS SUBJECT TO OPERATION OF C

    The execution of European Community judgments and acts, and European Enforcement Order and the judgments and acts of the courts and authorities that are not part of the Community law in Bulgaria are subject to two different procedures.
    - Ilieva, Voutcheva & Co Law Firm

  • Rules on proposals revision:

    Rules on proposals revision of commitments undertaken by enterprises accepted by the Commission for Protection of Competition (“CPC”)
    - Ilieva, Voutcheva & Co Law Firm

  • Amendments of the Marks and Geographical Indications Act

    On 9th of March 2010, with 19th issue of the Bulgarian State Gazette were published amendments of the Marks and Geographical Indications Act. The changes mainly affect the procedure of trade marks registration, which is being developed in the Patent Office. The new procedure corresponds to the procedure, which is being performed by the Office of Harmonization for the Internal Market – OHIM, administering the trade mark and the design of the Community and thus ensuring for the Bulgarian business environment identical to the one existing within the EU.
    - Ilieva, Voutcheva & Co Law Firm

  • IS IT „SECURE” TO USE A SECURITY TRUSTEE IN BULGARIA?

    It would be difficult to identify a universally accepted definition of “trust” and “security trustee” although these legal concepts appear to be well-developed in common law systems and are also acknowledged in a few civil law jurisdictions. Probably one of the most recognized and internationally supported definition of “trust” is provided by the Convention on the Law Applicable to Trusts and on their Recognitio n (the “Trusts Convention” ) . It refers to the term "trust" as “the legal relationships created - inter vivos or on death - by a person, the settlor, when assets have been placed under the control of a trustee for the benefit of a beneficiary or for a specified purpose”.
    - Borislav Boyanov & Co

  • Bulgaria and Qatar Boost Investment Cooperation

    The Treaty between the Republic of Bulgaria and the Government of Qatar for Mutual Promotion and Investment Protection has been recently promulgated in the Bulgarian state gazette. The Treaty governs the relations between the two states regarding the investment activity on the territory of both countries. Its aim is to further intensify and develop the trade, economic and scientific-technical cooperation between the two republics by establishing conditions for fair and equitable treatment of investors.
    - Lex Locus Law Offices

  • A New Law on the Consumer Credit Is Under Way In Bulgaria

    The Council of Ministers of the Republic of Bulgaria has recently submitted to the Parliament a new Draft Law on the Consumer Credit. The draft adopts the requirements of Directive 2008/48/EC of the European Parliament and of the Council of 23 April 2008 on credit agreements for consumers and repealing Council Directive 87/102/EEC. In general the purpose of this law is to better protect the interests of consumers upon concluding consumer credit agreements. The highlights of this draft law are the following.
    - Lex Locus Law Offices
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