Firm Profile > Georgiev, Todorov & Co > Sofia, Bulgaria

Georgiev, Todorov & Co
1000 SOFIA

Dispute resolution Tier 1

Georgiev, Todorov & Co, described as ‘one of the best law firms in Bulgaria for dispute resolution’ acts for clients in high-value and complex disputes, with particular expertise in real estate and energy matters. Arno Mamasyan, who jointly leads the practice, has extensive arbitration experience, having acted for clients in several arbitration courts and sitting on the Arbitration Court for the Confederation of Employers and Industrialists. The firm acts for both state and private entities, and has experience in proceedings at the administrative, national and supreme courts in Bulgaria. Ivan Todorov, managing partner, jointly heads the practice. The ‘highly efficient’ Miglena Peneva specialises in real estate matters, and ‘detail-oriented’ Mariya Derelieva has expertise in energy disputes. Tsvetelina Dimitrova is another name to note.

Practice head(s):


‘The firm has an exceptional depth of legal knowledge and familiarity with international arbitration and the requirements of transnational litigation.’

‘Every single member of the team holds exceptional knowledge and skills that provide high quality legal assistance.’

Key clients

Ministry of Agriculture and Foods

Acibadem City Clinic Tokuda Hospital

City Clinic – Sveti Georgi Hospital Montana

City Clinic Cardiac Surgery Hospital Burgas

City Clinic University Hospital

Piraeus Bank Bulgaria


Bulgarian Telecommunication Company

Proshek Immobilien

BMF Port Burgas


MBAL Hospital Evropa


Balkam Group Ltd.

EU and competition Tier 1

The EU and competition practice at Georgiev, Todorov & Co acts for claimants and defendants in unfair competition cases regarding exclusionary distribution practices, trade mark infringement, and public procurement procedures. Although the firm’s core focus lies on contentious matters, it also provides ongoing consultancy to companies operating in Bulgaria – ensuring that marketing campaigns, acquisitions, and internal rules and procedures conform to EU regulations. Alexander Pachamanov, whose ‘knowledge and experience are exceptional in the field of local and EU regulations in competition’ leads the team, alongside managing partner Ivan Todorov. Clients include the Bulgarian-American Credit Bank, Metro Cash and Carry and Roche.


‘Definitively one of the leading firms dealing with competition law in their country.’

‘The practice is unique due to the combination of in-depth theoretical knowledge of EU law and their great ability to use that knowledge in practice, whether for a legal consultation on a single issue or for a complicated representation in court.’

‘Superb client understanding, extensive insight into the problem, professional expertise in the sector and outstanding negotiation skills.’

Key clients

Bulgarian-American Credit Bank

Bulgarian Telecommunication Company EAD (BTC)

Roche Bulgaria


METRO Cash & Carry Bulgaria

Balkam Group Ltd.

Goldair Handling Bulgaria OOD


NM Genomix

Intellectual property Tier 1

Georgiev, Todorov & Co handles IP matters related to distribution contracts, software licensing and development, and patent and trade mark enforcement. IP rights in software is an area of particular expertise; it drafts various contracts relating to on line gambling websites, and handles trade mark registrations for software development clients. Ivan Todorov and Arno Mamasyan are the practice heads, while senior associate Tsvetelina Dimitrova leads on many of  the team's mandates.

Practice head(s):


‘The practice is outstanding due to the team’s professionalism and tremendous expertise in the field. The lawyers provide tailored solutions for clients and meet tight deadlines.’

‘The law firm impressed us with their high level of professionalism, cross-jurisdictional knowledge of the intellectual property legal framework and excellent communication skills.’

‘The main lawyer we work with is the senior associate Tsvetelina Dimitrova. She has an eye for detail, perfectly understands the needs of the clients, and possesses excellent communication skills.’

Key clients

Dench eGaming Solutions JSC

Hill Clinic

Backbar Club

Ciela Production


Asarel Investment


On Clinic

Duplex International

Ciela Norma

Software Point LLC

Transport (including shipping) Tier 1

Georgiev, Todorov & Co handles complex disputes for clients in the transport sector, including port operators, municipal transport authorities and engineering and construction firms engaged in infrastructure projects, and shipping and logistics firms concerning loss of or damage to cargo. The team is led by Ivan Todorov and Alexander Pachamanov, who acts for transport clients on regulatory, commercial, and competition law matters. Tsvetelina Dimitrova is a key contact, known for her ‘precision and detailed knowledge of EU law’, she acts for clients in aviation, urban transit, and railway construction.


‘The transport practice of Georgiev, Todorov & Co. is broad as the law firm covers shipping, aviation, as well as urban transport, which gives them a richer perspective of the issues. They have a high success rate and are experienced professionals with excellent litigation skills.’

Key clients


ADM Bulgaria Logistics

BMF Port Burgas

Sliven Municipality

Port Burgas

BH air

Bulgarian River Shipping JSC

МTK Trans

Goldair Holding Handling Bulgaria

Banking, finance and capital markets Tier 2

Georgiev, Todorov & Co acts for banks and financial institutions in complex and high-value disputes relating to fines, insolvencies, and non-payment of receivables. Outside of its litigation work, the team provides consultancy services to investment funds and banks related to regulatory compliance and capital markets rules. Ivan Todorov leads the team, with senior associate Tsvetelina Dimitrova also noted. Borica, Bulgaria’s largest payment processing service, Black Peak Capital and First Investment Bank are among the firm’s clients.

Practice head(s):

Key clients

Central Depositary

Piraeus Bank Bulgaria

First Investment Bank

Bulgarian-American Credit Bank

International Asset Bank

Black Peak Capital

Entrea Capital

Bulgarian Bank for Development


Bulgarian Stock Exchange

Energy and natural resources Tier 2

Georgiev, Todorov & Co’s energy and natural resources practice excels in handling disputes for clients in the sector. The firm is representing 47 hydroelectric power plant operators in separate cases against the Energy and Water Regulatory Commission. In addition to its disputes work, the firm assists with drafting complex contracts and agreements, and advises on debt restructuring for energy project holding companies. The team is jointly led by Ivan Todorov and Arno Mamasyan, who has a ‘deep knowledge of energy law.’ Nikolay Lazarov, who ‘produces work of the highest quality’ and the ‘precise and hardworkingMariya Derelieva are other key contacts. Miglena Peneva has ‘excellent negotiation skills'.

Practice head(s):


‘Georgiev, Todorov & Co is a leader in the sector of energy law and natural resources with many successful cases and high profile clients. The team’s key strengths are its commitment, availability, and the passion they put in getting the job done in a perfect way.’

‘They have extensive experience in the energy sector, an excellent track record in litigation and great client-advisor communication and relations.’

‘Our team trusts Georgiev, Todorov & Co for solving our issues in the sector. We cannot recommend them highly enough.’

Key clients

TEC Bobov Dol

BMF Port Burgas

Port of Burgas

Resalta Burgas


National Association of Property Developers


Union Hydro

Union of the producers of Green Energy

Bulgarian Chamber of Mining and Geology/Euromax Services

Toplofikacia Pernik

Toplofikacia Sliven

Bulgarian Energy Holding

Healthcare and life sciences Tier 2

Georgiev, Todorov & Co focuses on handling disputes in the healthcare sector, with a successful track record in representing hospitals and medical centres in reimbursement disputes with the National Health Insurance Fund. Notably, the team acted for MBAL Hospital Evropa, successfully appealing against the revocation of its licence by the regulatory authorities before the Supreme Administrative Court. Non-contentious work includes the provision of ongoing advice regarding regulatory compliance, data protection, licensing and employment issues.  Ivan Todorov heads the team, which includes senior associate Mariya Derelieva, who is particularly active. Tsvetelina Dimitrova and Alexander Pachamanov are other key contacts.

Practice head(s):


‘The lawyers have fast reactions, a great reputation in the sector, and are extremely professional.’

‘We highly value the competence of the team, and their availability to meet our demands and needs in order to give us exceptional legal advice.’

Key clients

Medical Centre Hill Clinic

Medical Centre On Clinic

Roche Bulgaria

Lyulin Hospital

Acibadem City Clinic

Tokuda Hospital

Acibadem City Clinic Cardiac Surgery Hospital Burgas

Acibadem City Clinic University Hospital

MBAL Evropa

MBAL City Clinic “Sveti Georgi” Hospital Montana

MBAL Uni Hospital Panaguirishte

SGP Bio Dynamics Ltd.

Naturprodukt Bulgaria

Real estate and construction Tier 2

Georgiev, Todorov & Co primarily acts for clients in complex disputes related to real estate acquisitions, zoning and planning permission issues, and proceedings stemming from grid and utility access. The team has represented developers in disputes regarding the revocation of building permits, restitution and true ownership proceedings, and lease arrangements. As well as working for private clients, it has acted for the Ministry of Agriculture and Food in contentious proceedings regarding the ownership of Rusalka Holiday Village. An ‘expert in the field’, Miglena Peneva is the key lawyer in the practice, drawing universal praise from clients.

Practice head(s):


‘The team’s key capabilities include a client-oriented approach, high level of competence and professionalism of the lawyers.’

‘We appreciate the highest level of services as Georgiev, Todorov & Co team always try to secure our investment interests.’

‘Their specific knowledge and great reputation in the field, makes them our preferred choice.’

‘Our key lawyer in the sector is Miglena Peneva, who is an outstanding and experienced expert in the field.  She is very precise, takes every detail into account, communicates in an understandable way and applies her in-depth knowledge into practice to solve our issues.’

‘Miglena Peneva is extremely hard working, provides in-depth research and analysis, and successfully solves the various issues we have, considering their specifics.’

Key clients

Este Properties


BLD Starland

BMF Port Burgas

Galchev Engineering Ltd

Bigla 3

National Association of Property Developers, Bulgaria

Advance Properties

AG Capital

TMT Tier 2

Georgiev, Todorov & Co acts for clients in high-value and complex contentious matters, concerning unfair competition, breach of contract, and shareholders’ disputes. The practice also handles non-contentious work; advising  on the merger of two GPS providers and also advising on the regulation of foreign ownership of free-to-air television channels. In other work, it assisted on the structuring of complex subcontracting agreements for a telecoms company with the Bulgarian Air Force. Ivan Todorov and Alexander Pachamanov, whose ‘knowledge and experience are exceptional’, jointly lead the team.


‘The team provides prompt and high-quality services where the motivation of the lawyers and their level of expertise are constantly expressed. We assess the level of service as excellent and we emphasize that the answers to the legal questions were provided by Georgiev, Todorov & Co. Law office in due time.’

Key clients

Bulgarian Telecommunications Company EAD (BTC)

GPS Bulgaria



Bulgarian-American Credit Bank



Viacom International Hungary Kft.

Commercial, corporate and M&A Tier 3

Georgiev, Todorov & Co's team has experience of structuring complex contracts between companies - including joint venture agreements, outcome-dependent quality control agreements and amendments to shareholders’ agreements. The group also provides consulting services to corporate clients in a variety of sectors regarding regulation and compliance. Managing partner Ivan Todorov and the ‘highly experienced’ Arno Mamasyan lead the team, with ‘passionate and dedicated’ senior associate Tsvetelina Dimitrova also noted.

Practice head(s):


‘The practice is outstanding due to the team’s professionalism and tremendous expertise in the field.’

Key clients

METRO Cash & Carry


Hill Clinic JSC

Roche Bulgaria

Experian Bulgaria

Dench eGaming Solutions

Comsed Jsc.

Pasha Global

Resalta Bulgaria


Entrea Capital

Alliance Print

Bulgarian Telecommunication Company

On Clinic

Infinity travel

Awantys GmbH

Ciela Norma

Bulgarian-American Credit Bank


Amdocs Bulgaria

Projects and PPP Tier 3

Project work at Georgiev, Todorov & Co is chiefly focused on property development and dispute resolution, both on behalf of private developers and on behalf of municipalities. On the PPP side, the firm advises on tender and concession procedures, and acts on behalf of winning and losing bidders.  Miglena Peneva jointly leads the team alongside Ivan Todorov, and takes the lead on real estate matters, while Arno Mamasyan handles public procurement procedures. Alexander Pachamanov and Tsvetelina Dimitrova are also key contacts.

Practice head(s):

Key clients

Sliven Municipality

Este Properties

AG Capital Holding

Ministry of Regional Development and Infrastructure

Evrofutbol Limited

Agricultural State Fund

Putkomplekt 2000

Fund of Funds

Ciela Norma AD

Force Delta


Galchev Engineering

National Association of Building Contractors

Georgiev, Todorov & Co. was established in 1991 and is one of the first Bulgarian law firms. It is currently one of the largest law firms in Bulgaria, comprising of 8 partners and 52 attorneys, who are proud to have the opportunity to provide excellent legal services to high profile clients.

More than 25 years ago, Georgiev, Todorov & Co. was established and quickly became one of the most successful law firms in Bulgaria. The team has built a corporate culture focused on a decision-oriented approach, helping clients to unleash their potential.

One of the law firm’s main advantages is the outstanding combination of deep knowledge of the substantive laws and regulations in Bulgaria and excellent expertise in judicial and arbitration representation.  This enables it to provide specifically tailored legal services and to avoid any potential risks for its clients. It also provides corporate law services with a particular emphasis on the tax and financial sector, M&A, restructuring, insolvency, venture capital and secured lending for both major local clients and a range of foreign investors.

Georgiev, Todorov & Co. is the only Bulgarian representative in the international organization Lawyers Associated Worldwide (LAW), which has members from over a hundred countries. The law firm is also a member of the international network Vogel Global Competition Network. For this reason, the law firm has access to a rich information network that provides it with the opportunity to approach leading law firms around the world in multinational disputes.

The firm guarantees high-quality legal services provided through the implementation of internationally recognized certified systems of quality management ISO 9001: 2015, ISO / IEC 27000: 2013 and ISO / IEC 20000-1: 2018. 

The tremendous results accomplished by its highly qualified and competent team, ensure clients that Georgiev, Todorov & Co. is one of the leading law firms in Bulgaria.  It guarantees accurate service to its clients, especially in the areas of Dispute Resolution, Administrative Proceedings, EU & Competition Law,  Corporate, Commercial and M&A,  and in the Energy and Natural Resources, Real Estate and Construction, Healthcare and Pharmaceutical, and TMT sectors.

Areas of practice: 

Dispute Resolution:  Georgiev, Todorov & Co. is one of the leading Bulgarian law firms in Dispute Resolution for more than 25 years. It has been involved in a number of complex international projects in the fields of energy law, telecommunications, and banking, as well as in most of the largest privatization transactions in Bulgaria. Georgiev, Todorov & Co. has extensive expertise in administrative, corporate and commercial litigation, financial issues, insurance, insolvency, and regulatory matters. Its strength is in understanding the business needs of clients and providing them with the best legal advice in order to protect their interests and business decisions.

TMT: Georgiev, Todorov & Co. covers all aspects of the telecommunication industry as well as broadcasting, media, and technology. The firm’s experts provide legal advice on acquisition and project finance, capital markets, mergers and acquisitions in the sector, and have participated in most of the major telecommunication deals in Bulgaria. Its clients are companies with significant importance in the field such as operators, service and technology providers. Georgiev, Todorov & Co. is a long-term legal adviser of the biggest player on the Bulgarian telecommunications market – the Bulgarian Telecommunication Company.  Our lawyers provide consultations and comprehensive legal assistance on a broad spectrum of issues, regardless of the material interest of the case.

Energy: Georgiev, Todorov & Co. has extensive experience in the field of energy law serving both Bulgarian and international clients regarding various legal issues. Energy-related legal advice is amongst the firm’s main areas of business and the firm is consistently and independently recognized for its work.

Georgiev, Todorov & Co. has successfully consulted on major infrastructure and development projects in the sector with a strategical significance for the Bulgarian energy market. The law firm also regularly provides legal representation both in regulatory and court proceedings to electricity, renewable and cogeneration producers, to gas and oil refineries and oil producers and to natural resources companies. Therefore, the team’s in-depth knowledge of the regulatory framework and its excellent litigation practice, makes Georgiev, Todorov & Co. a reliable partner, who is highly valued by its clients.

Corporate and Commercial Law: The firm combines strategic thinking and technical excellence to ensure that each client’s business is soundly and securely based. Georgiev, Todorov & Co. provides a unique combination of experience and resources, and a partnering approach that allows it to focus specifically on what clients need. In addition to providing legal assistance, the firm often fulfills the role of a business consultant, working as part of an in-house team to provide a first-rate service.

As a trusted legal advisor, with a strong market understanding, Georgiev, Todorov & Co. has been involved in a number of complex local and international projects in different industries including pharmaceutical, transport, banking and finance, and telecommunications.

EU & Competition: Georgiev, Todorov & Co. is recognized as a leading law firm in competition law. The team advises various businesses – no matter the industry, sector, and project and can respond to the sophisticated and diverse needs of different clients. The firm is involved in consulting and representing some of the most significant cases in the Bulgarian market in respect of unfair competition regarding key market players.

The firm’s expertise covers the whole spectrum of national and EU competition issues: antitrust, state aid, public services and services of general economic interest, merger control, with a particular focus on antitrust and State aid compliance and litigation.

Real Estate: The real estate team provides full scope of legal services including contract drafting (sale and purchase agreements, construction agreements, contracts for establishing real rights), due diligence (complex analysis of real rights, ownership, territorial status of properties, planning of territory), representation before the institutions and dispute resolution for administrative and judicial matters on a daily basis for a group of construction companies and real estate entrepreneurs.

Tax: The firm’s tax department has strong expertise in this field. The tax team offers a comprehensive planning and consulting service to various clients, providing expert tax advice in the areas of corporate finance, banking, financial services and real estate. The team is well known for its strength in tax litigation, protecting the clients’ interests and successfully representing them before the Bulgarian tax authorities.

Banking & Finance: The firm provides banking advice in relation to transactional and strategic advisory work. The team advises a wide range of borrowers, lenders, issuers, underwriters and other advisers in relation to debt finance and in respect to capital markets activity.

The team’s lawyer personal approach enables it to add value to its clients through in-depth local market knowledge, its multi-disciplined expertise and seamless ability and capacity where appropriate, to implement and manage international teams on cross-border projects efficiently and effectively.

Department Name Email Telephone
Managing Partner, Dispute Resolution Prof. Ivan Todorov, Ph. D +359 2 937 65 38
Senior Partner, Head of Banking and finance Prof. Valentin Georgiev, Ph. D +359 2 937 65 42
Senior Partner, Head of Corporate and commercial Arno Mamasyan +359 2 937 65 42
Senior Partner, Head of TMT department Alexander Pachamanov +359 2 937 65 40
Partner, Head of Real Estate Miglena Peneva +359 2 937 65 32
Partner, Head of Tax Department Georgi Kostolov +359 2 937 65 42
Partner, Dispute Resolution Nikolay Lazarov +359 2 937 65 42
Senior Associate, Energy Department Mariya Derelieva +359 2 937 65 40
Associate, Private International Law Department Tzevetelina Dimitrova +359 2 937 65 32
Associated Partner Vladimir Ivanov +359 2 937 65 00
Photo Name Position Profile
Miss Mariya Derelieva  photo Miss Mariya Derelieva Attorney at law Main practice areas: Corporate and Commercial law, Energy Law…
Ms Tsvetelina Dimitrova  photo Ms Tsvetelina Dimitrova Attorney-at- LawPractice areas: Private International Law, EU law, Corporate and Commercial law,…
Mr Valentin Georgiev  photo Mr Valentin Georgiev Senior partner Main practice areas: Banking, Insolvency, Contracts, Corporate Law.
Mr Georgi Kostolov  photo Mr Georgi Kostolov Partner, head of Tax Department Main practice areas: Tax law, Property and…
Mr Nikolay Lazarov  photo Mr Nikolay Lazarov Partner Practice areas: Administrative Law and Appeals.
Mr Arno Mamassian  photo Mr Arno Mamassian Senior PartnerMain practice areas: Commercial disputes, Corporate, Banking & Finance, Insurance, Energy,…
Mr Alexander Pachamanov  photo Mr Alexander Pachamanov Partner, Head of TMT department Practice areas: TMT, M&A, Concessions, Competition, IP
Ms Miglena Peneva  photo Ms Miglena Peneva Partner in Real Estate Department Practice areas: Real estate, Territorial planning, Concessions,…
Mr Ivan Todorov  photo Mr Ivan Todorov Managing Partner Practice areas: Administrative Law and Appeals, Privatization, Banking, Mergers and…
Number of lawyers : 52
Number of partners : 8
Lawyers' Associated Worldwide (LAW)
Vogel Global Competition Network
American Chamber of Commerce in Bulgaria
British Bulgarian Business Association
ICC Bulgaria
Bulgarian-Swiss Chamber of Commerce

More than 25 years ago, Georgiev, Todorov & Co.  set the tradition of one of the most successful law firms in Bulgaria. The team built a corporate culture focused on social responsibility and public contribution. We help build and enrich legal education by supporting national students’ competitions for scientific papers in the field of legal studies as well as national contests for resolving cases, not only by funding the prize stock, but also by participating with its lawyers in the contests’ committees.

The legal team’s professional responsibility is strongly focused on supporting the young colleagues regarding their education and experience gain. That is why Georgiev, Todorov & Co. is always open for providing opportunities for a good start in their young lawyers’ career. The Bulgarian law students who meet necessary requirements might take an advantage of the law firm’s scholarship programme.

We strongly believe that diversity is a major development tool and as legal professionals, we realize the importance of building a diverse team of lawyers. Undoubtedly this diversity initiative allows us to solve our clients’ complex issues better and to provide them with more tailored legal service.

We are proud to share the positive impact of our diversity policy: increasing continuously the female representation in our international legal team.

Outside the legal sphere, the law firm supports a number of charitable causes financially, donates equipment or spend personal time for contributions to the causes. Apart from providing excellent work environment and educational programs for its employees, for years Georgiev, Todorov & Co. has also developed an active social responsibility program by helping several disadvantaged children institutions.

The development of the diversity and social activity is set in our law firm’s policy and culture as we firmly believe in the principle of the social responsibility and its positive impact on our society.

CLIENT: Ivo Zlatev, Chief Legal Counsel
COMPANY/FIRM: Bulgarian Telecommunication Company
We are impressed with the legal service provided by Georgiev, Todorov and Co. Law Offices, and especially by our key legal advisor Alexander Pachamanov, who has been consulting us and representing us in court for more than 15 years on all legal issues concerning the company’s activities, including competition law, intellectual property law and commercial law issues.

CLIENT: Neli Draginova, Chief Legal Advisor
COMPANY/FIRM: Bulgarian National Bank
TESTIMONIAL: We were especially impressed with Mariya Derelieva, the senior associate, who worked with us on our issue. The broad range of his legal expertise was evident, as he was able to successfully advise us on all major and minor aspects of the case. Her enthusiasm and her impressive legal knowledge greatly contributed to the success of the deal.

CLIENT: Vesselina Djundjurova, Chief Legal Advisor
TESTIMONIAL: We worked with the law firm on our real estate issues, as well as were represented by the it before the CJEU. Our lawyer, Miglena Peneva, is a well-regarded and experienced expert in the field. We value her precise attention on details which helps her every time to reach to the most accurate solution for our issues.

CLIENT: Gergana Milanova, Commercial Director
COMPANY/FIRM: Roche Bulgaria
TESTIMONIAL: For over a decade we have entrusted our legal issues related with our overall business activity to Georgiev, Todorov and Co., who have always provided excellent legal advice. We strongly recommend the law firm as a reliable partner with proven professionalism and high success rate.

CLIENT: Mariya Valkanova, Manager
TESTIMONIAL: We have been working with Georgiev, Todorov & Co since we are present on the Bulgarian market. The law firm recently provided us with an important legal assistance regarding employment law. Tsvetelina Dimitrova, who is our main point of contact, is an exceptional lawyer – she is very dedicated and attentive, as well as demonstrates excellent knowledge and provides irreproachable legal services.

CLIENT: Ivaylo Spasov, Managing Partner
COMPANY/FIRM: Entrea Capital
TESTIMONIAL: The team assisted us on several occasions in the past year and all issues had a cross-border element. We were especially impressed with Arno Mamasyan, the senior partner, who worked with us. The broad range of his legal expertise was evident, as he took into account the international dimensions of the cases, as well as being attuned to the current business climate.

The firm

Established in 1991, Georgiev, Todorov & Co. Law Offices is one of the first Bulgarian law firms. It has built a corporate culture, focused on a decision-oriented approach and aimed at understanding the business needs of both domestic and international clients in order to fully protect their interests, help them realize their full potential and achieve their business goals. The outstanding combination of in-depth knowledge of substantive law and the unparalleled expertise in judicial and arbitral representation enables the law firm to provide tailored legal services and to avoid any potential risks for its clients.

The clients

Over the years Georgiev, Todorov & Co. has earned the trust of many clients of significant importance on the Bulgarian market and worldwide.

· Two key institutions of the European Union: European Commission and European Bank for Reconstruction and Development

· One of the biggest technological companies: Microsoft Corporation (тwice nominated our law firm as its best legal consulting practice outside the United States.)

· International pharmaceuticals and cosmetics leaders such as Roche and Astra Zeneca

· Oil companies in different countries: Gazprom (Russia) and Rompetrol (Romania)

The team

Georgiev, Todorov & Co. is made up of highly qualified and experienced professionals with an international background, who can deliver solutions on complex and diverse matters in several languages, including:

· Bulgarian

· English

· German

· French

· Russian

· Armenian

Some of our lawyers have degrees in European Union Law from leading universities such as La Sorbonne and King’s College London.

The network

Georgiev, Todorov & Co. is the only Bulgarian representative in the international organization Lawyers Associated Worldwide (LAW), which has members from over a hundred countries. The law firm is also a member of the international network Vogel Global Competition Network. Due to its exclusive membership to those key international organizations our team has access to a rich information network that provides it with the opportunity to approach leading law firms around the world in multinational disputes.

Where necessary, Georgiev, Todorov & Co cooperates with key international law firms such as White & Case LLP and Baker McKenzie for international law particularities. The team has a close relationship with colleagues in many countries, allowing it to manage international matters in a smooth and flexible way with the very best experts in the concerned area.


Established in 1991, Georgiev, Todorov & Co. is well-known for its strong market understanding, providing legal representation to key local and international companies in various industry sectors. It is one of the leading Bulgarian law firms in the Dispute Resolution field for more than 25 years. It has been involved in a number of complex international projects in the fields of energy law, telecommunications, real estate and banking, as well as in most of the largest privatization transactions in Bulgaria, including Balkancar Sredetz, NU Image Bulgaria and the Bulgarian Maritime Fleet.

In 2018 Georgiev, Todorov & Co won crucial cases in the Bulgarian energy industry, including providing the highly professional legal advice which led to the successful outcome of the significant internal arbitration case vis-à-vis Electricity System Operator before the Arbitration Court with Bulgarian Chamber of Commerce and Industry (AC of BCCI), where our client was awarded compensation for damages amounted to around EUR 7 000 000, incurred due to restrictions of the energy production of the plant imposed by the Electricity System Operator without legal or contractual ground.

Another recent win is related to the representation of BMF Port Burgas (the concessionaire of two terminals of the second biggest port in the country) before the Sofia Administrative Court in a dispute with the national grid operator. The European Court of Justice upheld the argument put forward by Georgiev, Todorov & Co on the scope of an EU Directive and the discretion allowed in relation to it in national legislation. In 2019, our team has also successfully advised several medical institutions on a number of cases initiated against the National Health Insurance Fund for payment of medical care provided above the limits set. We also acted as co-council to the major international law firm White & Case LLP in the investment arbitration of Kornikom before the International Centre for Settlement of Investment Disputes (ICSID). The proceedings were initiated by the Bulgarian investor Kornikom against the Republic of Serbia, based on the bilateral investment treaty (BIT) between Serbia and Bulgaria and a claim for an unlawful termination of a privatization agreement.

The attorneys of Georgiev, Todorov & Co are currently representing 47 individual hydroelectric power stations before the Energy and Water Regulatory Commission in administrative proceedings where the matter value is around EUR 50 000 000.

Our law firm is a popular choice for clients in Dispute Resolution due to the lawyers’ personal approach which enables them to add value through their in-depth local market knowledge, multidisciplinary expertise and seamless capacity to handle various legal issues efficiently.