Insight

bulgaria-covid-19-tracker

Bulgaria COVID-19 Tracker

Business in Bulgaria is experiencing a challenging legal environment in the context of rapidly changing emergency measures dealing with the COVID-19 pandemic. We have prepared a summary of the key legal measures affecting business in the attached BULGARIA COVID-19 TRACKER. It will be updated daily, as necessary. Please check regularly for updates. If you have […]

boyanov-co-contributes-to-the-bulgarian-chapter-on-the-foreign-investment-regulation-review-2020

BOYANOV & Co. Contributes to the Bulgarian Chapter on The Foreign Investment Regulation Review 2020

For а second consecutive year, Assoc. Prof. Dr Nikolay Kolev and associate Trayan Targov have co-authored the Bulgarian chapter in the eighth edition of The Foreign Investment Regulation Review, published in October 2020 by Law Business Research Ltd. This eighth edition of The Foreign Investment Regulation Review provides a comprehensive guide to laws, regulations, policies […]

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Resolutions in Absentia – A Useful Convenience in the Management of Limited Liability Companies and Joint-Stock Companies

In the conditions of a global pandemic and strengthened measures for social distancing, the issue of the resolutions in absentia in the management of companies becomes relevant. The Commerce Act (“CA”) provides, first, the possibility for stockholders in Limited Liability Companies (“OODs”) to adopt such resolutions. Pursuant to Art. 139, para. 2 CA, the resolutions […]

boyanov-co-contributes-to-the-bulgarian-chapter-on-lexology-getting-the-deal-through-merger-control-2021

BOYANOV & Co. Contributes the Bulgarian Chapter on Lexology Getting The Deal Through: Merger Control 2021

BOYANOV & Co.’s Competition team has authored the Bulgarian chapter in the prestige legal publication of Lexology Getting the Deal Through: Merger Control 2021, published in August 2020 by Law Business Research Ltd. In this publication, BOYANOV & Co.’s team answered key questions on competition, including Bulgarian merger control thresholds, merger control test, public takeovers, […]

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Risks of Artificial Intelligence – Safety Aspects

Industry solutions relying on artificial intelligence (AI) are growing faster than many had predicted. In addition to the important personal data protection considerations, another important question which this new and emerging technology is raising relates to the AI safety problems and their legal response. So far, the European Union and Bulgaria have not adopted legislation specifically […]

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Artificial Intelligence & Data Protection

Preface Artificial intelligence[1] (AI) is widely recognised as one of the defining industrial phenomena of the 21st century. In today’s technology-dependent world, its potential impact on business and economic development can hardly be understated. From possible groundbreaking use as a diagnostic tool in medicine, through the inevitable introduction of autonomous vehicles as widespread means of […]

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COVID-19 Related Payment Moratorium on Financings

  (“May you live in interesting times” – Chinese proverb) The COVID-19 pandemic has multiple effects on the economy. Many businesses struggle to survive and are or may become unable to service their bank debt in the same way as they did before the outbreak of the pandemic. Governments and central banks around the world […]

is-covid-19-a-force-majeure

Is COVID-19 a Force Majeure?

Do the COVID-19 outbreak and the measures against it constitute force majeure? The COVID-19 pandemic has a number of negative economic consequences such as suspension or delay of production and supplies, quarantining of entire countries, closure of borders, cancellation of flights, etc. All these factors affect the performance of obligations under multiple commercial transactions and […]

the-new-eu-commission-steps-up-its-agenda-on-digital-technologies

The New EU Commission Steps Up its Agenda on Digital Technologies

Last week, the European Commission published a Communication on Europe’s Digital Future in which it followed-up on the topic of EU’s digital transformation and introduced two documents, which provide further detail on the current developments. The first document is the new European Data Strategy. It envisions the adoption of both a Digital Services Act and […]

boyanov-co-contributes-to-the-bulgarian-chapter-on-getting-the-deal-through-merger-control-2020

BOYANOV & Co. Contributes to the Bulgarian Chapter on Getting the Deal Through: Merger Control 2020

BOYANOV & Co.’s Competition and Antitrust team has authored the Bulgarian chapter in the prestige legal publication of Getting the Deal Through: Merger Control 2020, due to be published in September 2019 by Law Business Research Limited. Some of the key questions answered by each of the 69 jurisdictions featured in this publication include Bulgarian […]

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BOYANOV & Co. Contributes to the Bulgarian Chapter on Global Legal Insights to: Mergers & Acquisitions 2019

BOYANOV & Co.’s partner Yordan Naydenov and counsel Assoc. Prof. Dr. Nikolay Kolev have authored the Bulgarian chapter on Global Legal Insights to: Mergers & Acquisitions 2019, 8th edition, published in July 2019 by Global Legal Group. The article discusses the legal background, financing of the M&A transactions in Bulgaria, touches upon the significant deals […]

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BOYANOV & Co. Contributed to the IBA Arbitration Country Guide

Kina Chuturkova, Head of the Dispute Resolution Practice Group of BOYANOV & Co., contributed to the Bulgarian chapter in the IBA Arbitration Country Guide, published by IBA Arbitration Committee. To read the Bulgarian chapter, please visit http://www.ibanet.org/LPD/Dispute_Resolution_Section/Arbitration/Arbcountryguides.aspx.   Copyright picture: IBA

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ALERT: On 25 May 2018 the new General Data Protection Regulation (2016/679) (the “GDPR”) will enter into force.

ALERT: On 25 May 2018 the new General Data Protection Regulation (2016/679) (the “GDPR”) will enter into force. How is this important to you? While the GDPR mostly upgrades the current legal regime after 20 years of case law and practice on personal data protection, its entry into force will introduce significant new fines reaching […]

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ECJ interprets financial collateral on bank accounts

In November 2016 the European Court of Justice (ECJ) issued a preliminary ruling on the interpretation of the Financial Collateral Arrangements Directive (the FCA Directive). In that ruling (which is the first ECJ ruling on the FCA Directive) the ECJ held inter alia that the requirement under the FCA Directive that the collateral must be […]

bulgarias-exclusion-of-certain-bank-deposits-from-the-deposits-guarantee-breaches-an-eu-directive

Bulgaria’s exclusion of certain bank deposits from the deposits guarantee breaches an EU Directive

In this article BOYANOV & Co. presents a critical analysis of Bulgarian legislation governing bank deposits guarantee excluding from the guarantee deposits solely because they had a higher interest rate than the standard one provided by the bank. The article was written by Damian Simeonov, Partner and Co-Head of BOYANOV & Co.’s Banking and Finance […]

pledge-enforcement-now-requires-an-insurance-which-makes-it-more-costly

Pledge enforcement now requires an insurance, which makes it more costly

One of the amendments brought at the end of 2016 to the regime of ”special pledges” (i.e. commercial pledges where the pledged assets remains in the possession of the pledger) is the new requirement for insurance. In particular, a creditor secured by a special pledge enforcing the pledge must, among other things, appoint a “depository”. […]

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Amendments to the Regime of Pledges in Bulgaria Effective 30 December 2016 – are creditors in a better position now?

In this article BOYANOV & Co. provides a brief overview of some of the recently adopted material amendments to the Bulgarian Special Pledges Act and the new risks related to their practical application. Please find below the Memorandum outlining the amendments, prepared by Mr. Damian Simeonov, Partner and Head of Banking and Finance, Mrs. Ralitsa […]

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Parallel Import and IP Rights Protection in Bulgaria

BOYANOV & Co. contributed to the CEE Legal Matters magazine www.ceelegalmatters.com with an Expert review on IP rights protection in Bulgaria in cases of parallel import – import of non-counterfeit branded goods in a particular jurisdiction without the consent of the trademark owner. The Expert review was contributed by Kina Chuturkova, Partner and Head of […]

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Proposed Amendments to the Bulgarian Commerce Act

BOYANOV & Co. made a presentation on the proposed amendments to Bulgarian Commerce Act introducing, amongst others, new restructuring proceedings implementing principles of the European Commission Recommendation on a new approach to business failure and insolvency at a CEE Finance & Debt Capital Markets Workshop, organized by Freshfields Bruckhaus Deringer in Vienna on 6 – […]

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Mergers and Acquisitions, Global Legal Insights

BOYANOV & Co. contributed to the fifth edition of Global Legal Insights – Mergers & Acquisitions, published by Global Legal Group Ltd, London on 31 March 2016. The chapter on Bulgaria has been written by Mr. Yordan Naydenov, Partner and Head of Corporate and M&A at BOYANOV & Co. and Dr. Nikolay Kolev, Senior Associate […]