Dimitar Zwiatkow > CMS > Sofia, Bulgaria > Lawyer Profile

14 Tsar Osvoboditel Blvd.
1000 SOFIA

Work Department

Banking & Finance, Energy, Corporate and Tax


Partner, CMS Sofia


Dimitar Zwiatkow is partner in the Banking & Finance practice in CMS Sofia. He is a Bulgarian attorney with more than 10 years of legal experience gained in leading law firms in Bulgaria and Germany and an in-depth knowledge of the banking sector. Dimitar is one of the preeminent advisers on banking M&A transactions and large-scale portfolio transactions. Among his clients are local and international banking and financial institutions and investment funds such as UniCredit Group, Hypo Alpe Adria Group, Erste Bank, Raiffeisen Bank, OTP Bank, B2Holding, IFC, etc. Dimitar focuses on real estate finance, regulatory banking matters, non-performing loans, acquisition finance, project finance, corporate lending, financial services and products, banking litigation.

Additionally, he is an expert in restructuring and litigation issues, payment systems and clearing, crypto currencies, mobile and contactless payment technologies.

He also advises clients in M&A transactions and has considerable expertise in corporate and tax law including representation in court, enforcement and insolvency proceedings. Having the international educational background, Dimitar has excellent expertise on advising small and mid-sized European companies in the field of corporate, commercial, employment and litigation matters.

Dimitar has also advised a number of clients on internal compliance and reporting issues. He has invaluable experience in dealing with various regulatory bodies, having communicated on a number of occasions with the Bulgarian Commission for Protection of Competition, the National Revenue Agency and the Bulgarian National Bank. He is further experienced in supporting clients in corporate forensic investigations, and thus has background in working with the prosecution authorities. He is dual qualified in Germany and Bulgaria.

In the area of Energy law his particular area of expertise is in renewables and projects, PPP and public procurement. Over the years, he has advised on renewables, combined heat and power (CHP), waste to energy and independent power projects. His clients include a wide range of energy suppliers from the fields of wind power, hydropower, biomass and photovoltaics. Dimitar consults on the construction and acquisition of power plants, testing and commissioning as well as environmental questions, network operation issues and strategic considerations in project management. He also represents clients before courts of law and arbitration.


Bulgarian, German, English


Member of the Bulgarian and Munich Bar Associations


Ludwig Maximilian University, Munich, Germany

Lawyer Rankings

Bulgaria > Projects and PPP

CMS advises major energy producers, including electricity suppliers, upstream oil and gas companies, and energy investors, on large-scale projects and on their participation in bidding and tendering processes. The firm has advised participants in major tender procedures to build airports, roads, railways, and pipelines. Kostadin Sirleshtov, joint practice head, also leads the firm’s energy practice, while co-head Dimitar Zwiatkow has experience in public procurement procedures, structuring of consortia, and advising winning bidders on the implementation of their projects. Denitsa Dudevska and Antonia Kehayova are key contacts for mining and real estate projects, respectively.

Bulgaria > Real estate and construction

CMS advises clients on both the buyer’s and the seller’s sides in transactions related to the sale of property portfolios including agricultural land – covering all aspects of the transactions including financing, tax, and share purchase and shareholders’ agreements. The team also advise on leasing arrangements, having drafted agreements for Tesla, GTC and Saris Property Ltd. The team is jointly led by Jenia Dimitrova and Antonia Kehayova, who specialise in contracts and transactions respectively. Atanas Bangachev, co-head of the corporate and commercial practice, and Dimitar Zwiatkow, co-head of banking and finance, also provide their expertise to the real estate and construction practice.

Bulgaria > Energy and natural resources

(Next Generation Partners)

Dimitar ZwiatkowCMS

The team at CMS draws on its ‘long-term experience’ to advise clients on the full spectrum of energy and natural resources work, including nuclear and conventional energy production, oil and gas exploration, renewable energy, waste management, and regulatory consultancy and litigation. The team is especially prominent in exploration, having assisted Shell, SPM, Repsol and Petroceltic with obtaining onshore and offshore licences. The firm’s strong corporate and commercial practice also allows the team to advise on financing, agreements and restructurings of energy projects. The practice is jointly led by Kostadin Sirleshtov, who is a former board member of several key energy companies and highly rated by peers in the sector, and Dimitar Zwiatkow, who specialises in the financing and real estate aspects of projects.

Bulgaria > Commercial, corporate and M&A

The ‘exceptionally business-oriented’ team at CMS is well placed to advise on cross-border mergers and acquisitions, as well as handling compliance, regulation and corporate governance for clients active within Bulgaria and the wider CEE region. The team is experienced in assisting foreign companies with entering and exiting the Bulgarian market, having advised on Hungarian bank OTP’s purchase of Société Générale’s Bulgarian subsidiaries in 2019. IBM and Cargill are among its other clients. The practice is jointly led by litigation specialist Assen Georgiev, Gentscho PavlovDimitar Zwiatkow and Atanas Bangachev. Counsel Nevena Radlova advises on suppliers’ and distribution contracts, as well as the competition aspects of merger clearance.

Bulgaria > Banking, finance and capital markets

(Next Generation Partners)

Dimitar ZwiatkowCMS

CMS employed its ‘well established cross-border practice’ to advice on a number of major regional deals in 2019, including assisting OTP Bank with its €600m acquisition of Société Générale’s subsidiaries across the CEE region. Within Bulgaria, it advises chiefly on large-scale real estate financing, acquisition financing and project financing on for local and regional lenders and borrowers, drawing on the experience of Dimitar Zwiatkow, who jointly heads the team. Gentscho Pavlov and Elitsa Ivanova are the other practice co-heads, and have been active in the sale of NPL portfolios and cross-border financings respectively.