Archive for September, 2002

Borislav Boyanov & Co. Chosen As Consultant to the Government for Privatization of 7 Power Distribution Companies

Monday, September 30th, 2002

Borislav Boyanov & Co., acting in a consortium of advisers, lead by BNP Paribas, was chosen to work as a consultant to the Bulgarian government on the legal aspects relating to the privatization of the seven power distribution companies, operating in Bulgaria. With a customer base of over 4 million households, and app. 500,000 industrial/public customers medium/low voltage, and estimated sales in excess of 1.4 billion BGN the seven electricity distribution companies are expected to be some of the biggest targets of Bulgarian privatization.

Borislav Boyanov & Co. Lends Its Support to Balkan Legal Forum 2002

Friday, September 27th, 2002

Between September 25 and 27, 2002 the second edition of the Balkan Legal Forum under the title “The Role of the Legal Profession for the Stability and Economic Growth” was held, which was two years after the resounding success of the Balkan Legal Forum in 2000. The Forum was Chaired by Borislav T. Boyanov, Managing Partner of Borislav Boyanov & Co., and was realized with the active support of the lawyers of the firm, who wholeheartedly embraced this initiative to bring together legal professionals from South East Europe and the world, discussing on themes of common relevance. Among the notable sponsors of the Forum, figured the International Bar Association, the Legal Development Foundation, ABA CEELI, the British-Balkan Legal Foundation, Bulgarian law firms, banks and other major businesses. Once again the Forum gathered in excess of 200 lawyers, judges, administrators and executives, harboring distinguished guests including HE Simeon Saxe Coburg, Prime Minister, HE Anton Stankov, Minister of Justice, HE Nickolay Svinarov, Minister of Defense, Erhard Busek, Co-ordinator of the Stability Pact for South Eastern Europe, Lord Slynn of Hadley, HH George Dobry CBE QC, Tomasz Wardynski CBE, Heinz Loeber Esq. and many others. The topics of discussion ranged from “The Rule of Law”, through “A Solid Banking System – A Vehicle for Economic Growth”, “Litigation and ADR for Development of Market Economy in South Eastern Europe” to “Unfair Competition and Consumer Protection”. In the last session Borislav Boyanov & Co. Partner Damian Simeonov presented a paper on Parallel Import in the context of Bulgaria’s Approach, which focused on issues of protection of trademark rights, exhaustion and other problems of relevance in this area. In the opinion of a number of speakers and participants, the Forum was yet again a remarkable success which importance and relevance will be felt long beyond the three days in which sessions were held. In his closing remarks the Chairman Borislav T. Boyanov thanked the participants for their participation and active support and expressed his hope that the next edition of the Balkan Legal Forum will bring them back together once again with many other legal professionals from around the world.

Borislav Boyanov & Co. Counsel on New Bulgarian Brady Bonds Swap

Wednesday, September 11th, 2002

The Bulgarian government announced a new swap of Bulgarian Brady Bonds (DISCs, FLIRBs and IABs) for newly issued USD denominated bonds maturing 2015. It is expected that the new issue will be of a value up to USD 800 million. The exchange will be done by increasing the volume of dollar-denominated bond issue of March 2002. The government’s expectations are that based on an exchange of USD 750 million bonds for Brady Bonds, the swap will reduce Bulgaria’s external debt by USD 238 million, including a nominal decrease of USD 87 million and the release of USD 151 million of US 30 year long bonds, currently held as collateral. As with respect to the two previous issues of bonds by the Republic of Bulgaria, Borislav Boyanov & Co. acts as a legal counsel to the managers of the transaction JP Morgan and Salomon Smith Barney.