Archive for July, 2011

Competition Authority Rejects Allegations against Novartis Brought by Local Pharmaceuticals Distributor

Friday, July 29th, 2011

Borislav Boyanov & Co. successfully defended global pharmaceuticals manufacturer Novartis against allegations brought by a local pharmaceutical distributor of impeding that distributor’s participation in hospital tenders.

Upon review of the case, the competition authority found that the claimed infringement was not committed and rejected the complaint.

Moody’s Upgraded Bulgaria’s Ratings from Baa3 to Baa2

Friday, July 22nd, 2011

Moody’s Investor Service upgraded Bulgaria’s Government ratings from Baa3 to Baa2 based on the Government’s ongoing fiscal discipline, the improvement of institutional strength and the relative resilience of the financial system in a volatile regional environment. This is the highest Moody’s rating upgrade related to the Government of Bulgaria so far. Moreover, the agency said that the outlook on the rating was stable. Moody’s also upgraded Bulgaria’s country ceiling for foreign currency deposits to Baa2 and the country ceiling for foreign currency debt to Aa3, which is equivalent to the Aa3 country ceiling for local currency debt. The Baa2 rating placed Bulgaria on a leading position among the Balkan countries and some EU countries from the Euro zone periphery.

Borislav Boyanov & Co. Advised the European Investment Fund on FLPG Agreements under the JEREMIE Initiative

Thursday, July 14th, 2011

The European Investment Fund (EIF) signed today, 14.07.2011, at an official ceremony at Sheraton Sofia Hotel Balkan five guarantee agreements with Bulgarian banks under the Joint European Resources for Micro to Medium Enterprises (JEREMIE) initiative.

Under the said agreements the JEREMIE Initiative will support the selected banks to provide up to EUR 400 million of new loans to approximately 3,400 Bulgarian small and medium enterprises.

CIBank, ProCredit, Raiffeisenbank, United Bulgarian Bank and UniCredit Bulbank will offer financing at preferential conditions to a broad range of SMEs across Bulgaria looking to invest or expand their business.

The First Loss Portfolio Guarantees represent the first operations under the JEREMIE initiative in Bulgaria and are expected to lead the series of successful, specially designed incentive products for SMEs in Bulgaria.     

Borislav Boyanov & Co. advised EIF throughout the whole process of implementation of JEREMIE initiative in Bulgaria – from the establishment of the Holding Fund Structure in Bulgaria to the launch of the first innovative financial products.

Borislav Boyanov & Co. Shortlisted for the Corporate Law Firm of the Year Award

Tuesday, July 12th, 2011

Borislav Boyanov & Co. has been shortlisted for the ‘Corporate Law Firm of the Year Award’ in Bulgaria as part of the forthcoming 2011 Global Awards conducted for a fourth year by Corporate INTL Magazine. A maximum of 3 firms per category are shortlisted and the list has been compiled following an extensive research and nomination process which has taken place over the last 5 months.

The 2011 Global Awards will commemorate those who have been active and have shown excellence not only in expertise but in service and during a difficult global economic downturn. The winners will be announced on 15th August.