Archive for July, 2014

Cloud Computing In Bulgaria – Regulatory Framework

Friday, July 11th, 2014

The legal aspects of the use of cloud computing services is an issue of growing importance for the businesses throughout Europe. With infrastructure getting cheaper, easier to handle and much more flexible many businesses move into the cloud. This leads to growing need of comprehensive legal advice and guidance on the existing legal framework and specific statutory requirements related to the use of cloud services. Boyanov & Co. has already gained significant experience in advising clients in this new and challenging area. We were therefore pleased to accept the invitation and contribute the Bulgarian chapter of the comprehensive Cloud Computing Regulatory Framework Overview. The paper covers the current EU statutory framework as well as a number of Eastern European jurisdictions. The publication was prepared in cooperation with other European lawfirms with the kind support of Dr. Jochen Engelhardt, CEE Legal Director, Legal and Corporate Affairs at Microsoft. The part on Bulgaria was prepared by Nickolai Zisov, Senior Associate with Boyanov & Co.

Тhe publication Cloud Computing In Bulgaria – Regulatory Framework is available upon request.

Boyanov & Co. advised the B2B air fare search firm Vayant Travel Technologies Inc. on attracting Lufthansa as a new investor in it

Wednesday, July 9th, 2014

Vayant Travel Technologies Inc. has been funded since 2007 by a group of private investors and venture capitalists including Neveq and Cape Capital.

The new investment is part of Vayant’s development strategy “to intensify its business growth within the airline industry and support airline efforts in view of flexibility and distribution”.

Boyanov & Co.’s team led by partner Damian Simeonov advised Vayant on all aspect of the transaction and coordinated the work of Delaware lawyers. The deal involved several transaction documents governed by Delaware law. Although the company is registered in Delaware it does business through a Bulgarian subsidiary which employes about 40 software engineers.

Visteon Completes Acquisition of Electronics Business of Johnson Controls

Tuesday, July 1st, 2014

On July 1, 2014, Visteon Corporation (NYSE: VC) completed the acquisition of the automotive electronics business of Johnson Controls (NYSE: JCI), creating one of the world’s three largest suppliers of vehicle cockpit electronics. The acquired business provides automakers with driver information, infotainment, connectivity and body electronics products. The transaction involves about 4,800 employees, including about 1,000 engineers, electronics specialists and designers at seven research and development centers, including the Bulgarian Electronics Development Center of Johnson Controls with nearly 600 employees.

Boyanov & Co. acted as Bulgarian legal counsel to Visteon together with the global legal counsel Skadden, Arps, Slate, Meagher & Flom LLP. The firm provided advice and assistance on all Bulgarian legal aspects of the deal.

The Boyanov & Co.’s team on the deal was led by Nickolai Zisov, Senior Associate.

Balkan Legal Forum 2014 – a forum of professional friends in Vienna

Tuesday, July 1st, 2014

Borislav T. Boyanov, managing partner of Boyanov & Co., together with Feek Jonkhart, partner at Loyens & Loeff, chaired the Eighth Edition of the Balkan Legal Forum which was held in Palais Hansen Kempinski Vienna on June 26 and 27.

Balkan Legal Forum is a bi-annual legal conference organized by the IBA European Regional Forum and the Legal Development Foundation with the support of IBA Law Firm Management Committee. The event attracted over 140 delegates from 34 countries, including participants from Europe, America, Middle East and Asia. As with previous forums, the event was strongly supported by the team of Boyanov & Co. and the Legal Development Foundation.

The main theme of this year’s conference was “South East Europe – Expanding Opportunities, Meeting New Challenges”. Some of the main topics included discussion on the current economic environment in the SEE region and its impact on the legal profession, the growing importance of the cloud computing and the various open legal questions around it, review of some important energy issues in the region, the local impact of the anti-bribery and anti-corruption US & UK legislation, various competition, arbitration and law firm management topics.

Peter Petrov, partner at Boyanov & Co., spoke on the distinction between horizontal and vertical information exchange and their treatment under competition law, along with the consequences for businesses.

As always, the Forum enjoyed wide support from representatives of both the legal profession and business. The majority of the participants provided very positive feedback, outlining that this year’s conference was the best Balkan Legal Forum conference held to-date both in terms of the quality of the presentations and speakers, but also in terms of organization and networking opportunities.

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