Archive for September, 2004

Bulgarian Investment Information Network

Tuesday, September 28th, 2004

Today at Grandhotel Sofia was the official launch of the initiative BIIN – Bulgarian Investment Information Network. The BIIN concept is to form a partnership among sources and providers of investor related information and services in Bulgaria. BIIN aims at creating a transparent environment of objective, unbiased and current investment information with which to assist business and investors in the country. The launch is financially supported by MSI/USAd and the logistics by the Invest Bulgaria Agency. The representatives of the BIIN core group – AIMS, Bulgarian International Business Association, Borislav Boyanov & Co., Deloitte & Touche, Ernst & Young, KPMG and PricewaterhouseCoopers – presented the strategy of network operations, procedures and required qualifications for membership, media presence. After the discussions all representatives of companies, chosen on the basis of meeting the Required Qualifications for Membership, signed the Letter of Commitment thus becoming part of the network. BIIN has a web site, which states the name and contact info for each member, links to member web-sites and information on the latest investment projects in Bulgaria.

Prime Minister’s Address to Managing Partner Borislav Boyanov and the participants in the Balkan Legal Forum

Friday, September 17th, 2004

On the occasion of the Balkan Legal Forum 2004 the Prime Minister of Bulgaria HE Simeon Saxe Coburg addressed in a letter Mr. Borislav T. Boyanov, Chairman of the Forum and the participants in the event. In his letter the Prime Minister wrote: “First, I want to thank you, Mr. Boyanov, and your collaborators, for mounting this prestigious and highly practical working conference within the framework of the Balkan Legal Forum and the International Bar Association. Clients on all sides of important business, investment and regulatory transactions, be they the Government, Bulgarian private sector interests or foreign investors, have a great deal to thank you for, in your single-minded leadership of a standard of excellence across the attorney profession in Bulgaria and its neighbour countries, which is a key factor in our increasingly successful economic development. You are setting an example in carrying around the globe the good reputation of attorneys here for sound and impartial advice, inspired education and training for the profession, and a record of service in the promotion of high ethical standards.”

The 2004 Balkan Legal Forum Opened in Sofia

Thursday, September 16th, 2004

On September 16 for the third time the Balkan Legal Forum gathered more than 200 lawyers, statesmen and business people from around the region and the world in Sofia. At its opening the Forum was addressed by letter by the President, and the Prime Minister of Bulgaria and was honoured by the presence of Mr. Nickolay Svinarov, Minister of Defense of Bulgaria, Mr. Emilio Cаrdenas, Chairman of the International Bar Association, diplomats and dignitaries.

The Third Edition of Balkan Legal Forum Will Take Place on 15-17 September in Sofia

Friday, September 10th, 2004

From 15 to 17 of September 2004 the Third Edition of Balkan Legal Forum under the title South East Europe – Business and Law will take place in Sofia, Bulgaria at Sheraton Sofia Hotel Balkan. The BLF is organized by The Legal Development Foundation, chaired by Mr. Borislav Boyanov, the Managing Partner of Borislav Boyanov & Co., and the European Forum of the International Bar Association, with the kind support of the Supreme Council of the Bulgarian Bar Association, The South East Europe Legal Group (SEE Legal), and The American Bar Association, Central European and Eurasian Law Initiative. The BLF will be attended by internationally known speakers and law practitioners as Rt. Hon Lord Slynn of Hadley, Lord of Appeal and member of the House of Lords, former Advocate General and Judge of the European Court of Justice, Mr. Jernej Sekolec, Secretary of UNCITRAL, HE Anton Stankov, Minister of Justice of the Republic of Bulgaria, Mrs. Tsonka Taushanova, Chairwoman of the Bulgarian Patent Office, Mr. Petko Nikolov, Chairman of the Bulgarian Commission for Protection of the Competition, Mr. Traian Markovsky, Chairman of Supreme Council of the Bulgarian Bar Association.

Major Foreign Investors Have Showed Interest in the Concession Procedure for Burgas and Varna Civil Airports

Wednesday, September 8th, 2004

The foreign civil airports operators Fraport AG (Germany) and Wiggins Group (the U.K.) as well as a consortium including some global financial investors demonstrated their initial interest in participation in the tender concession procedure for the two seaside civil airports for public use in Burgas and Varna. The tender shall take place at the latest until April 10, 2005. The term of the concession shall be 35 years and it may be prolonged with another 15 years. Conditions to the applicants include: (i) experience of at least two years during the preceding five years in the operation of at least two airports located in two different states with more than 2 mln. passengers annually, of which at least one should be with more than 5 mln. passengers annually, (ii) successful investments in airports made by the applicant within the preceding five years at an amount exceeding EUR 100 mln. and (iii) proven financial stability of the applicant. The concession fee shall be composed of the amount of EUR 3 mln., which shall be paid within a month period as of the signing of the concession agreement and a floating fee as a percentage of the concessionaire’s annual income agreed in the concession procedure but not less than 12%, which shall be paid annually. According to publicly announced intentions of the government, the two airports will be packed together and concessions will be granted to a single concessionaire.

Methodology for Determination of the Affordability of the Price of the Universal Telecommunications Service

Wednesday, September 8th, 2004

The Government adopted Methodology on the conditions and the procedure for determination of the affordability of the price of the universal telecommunications service (promulgated in the State Gazette Issue No. 78 of September 7, 2004) (the “Methodology”), effective as of September 11, 2004. The Methodology will apply to public telecommunications operators which are obliged to provide universal telecommunications service within the meaning and under the terms of the Telecommunications Act.