Archive for June, 2009

International Arbitration 2009 – Bulgaria

Wednesday, June 17th, 2009

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This article provides a brief legal guide to international arbitration from the perspective of Bulgarian law. This article appeared in the 3rd edition of The International Comparative Legal Guide to: International Arbitration 2009, published by Global Legal Group Ltd, London (www.iclg.co.uk).

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Borislav Boyanov & Co. Advised the European Investment Fund on the JEREMIE Initiative for Bulgaria

Wednesday, June 3rd, 2009

On May 27, 2009 the European Investment Fund (EIF) Chief Executive Mr. Richard Pelly and the Bulgarian Minister of Economy and Energy Mr. Petar Dimitrov executed a EUR 200 million JEREMIE Funding Agreement and a Framework Agreement for the institution of a holding fund in support of Small and Medium Enterprises (SMEs) in Bulgaria. The Bulgarian Parliament ratified the Agreements on May 30, 2009.

JEREMIE is a joint initiative started in 2005 by the European Commission and EIF to promote the access to finance for SMEs in the EU within the Structural Funds framework. JEREMIE enables the EU Member States to put money from the Structural Funds into holding funds that can finance SMEs in a flexible and innovative way. The new initiative aims at developing and fostering the role of entrepreneurship within the EU in order to meet the objectives of the Lisbon Agenda and help Structural Funds to deliver greater benefits to the market. EIF has currently signed 7 National (Greece, Romania, Slovakia, Latvia, Lithuania, Cyprus and Bulgaria) and 2 Regional (France – Languedoc Roussillon, and in Italy – Campagna) Holding Fund Agreements.

Borislav Boyanov & Co. acted as a legal advisor of EIF in the process of negotiations between EIF and the Bulgarian Government for implementation of the JEREMIE Initiative in Bulgaria and the drafting of the respective agreements.