The Cross-Border Mergers Directive – Chapter on Bulgaria

This chapter provides a brief overview of the implementation of the Cross-Border Mergers Directive in Bulgaria. The chapter is part of the book on Cross-Border Mergers in Europe by Cambridge, available from: Law Practitioner Series Cambridge, 2009


Recognition and Execution of Foreign Court Rulings (in Bulgarian)

This article (in Bulgarian) provides a brief insight into the recognition and execution of Foreign Court Rulings conditions and procedures in Bulgaria. It also discusses current legal issues faced by parctitioners in the enforcement of judicial acts passed in other jurisdictions.     Copyright picture:


Borislav Boyanov & Co. represents Minister for Finance of Ireland in relation to local merger clearance

Borislav Boyanov & Co., acting on behalf of the Minister for Finance of Ireland, successfully obtained clearance for the concentration resulting from the proposed participation of the Irish National Pensions Reserve Fund in a EUR 6.6 billion capital raising by Allied Irish Banks plc (AIB). AIB holds a minority 49.99% interest in Bulgarian-American Credit Bank […]


A successful completion of the restructuring of EQT V Group of companies in Bulgaria

On November 26, 2010 was registered and finalized the transformation of one of the major CATV and Internet companies on the market Eurocom Cable Management Bulgaria EOOD from limited liability company to joint – stock company. The transformation completed the first step of the corporate restructuring initiated in the beginning of 2010, which included also […]


Acquisition of 400MW District Heating and Electricity Plant is Cleared by Competition Authority

Borislav Boyanov & Co. represented the Russian conglomerate Mechel in the merger control procedure to review its proposed acquisition of sole control over the district heating and electricity company in Ruse, Bulgaria, Toplofikatsia – Ruse. Toplofikatsia – Ruse is the sole district heating operator in the Ruse region, and also has two condensing power generation […]


Unconditional Clearance for Horizontal Merger in Food Retailing

Borislav Boyanov & Co. successfully obtained merger clearance for a major German food retailing chain, relating to the acquisition of the local assets of another international food retailer, active in Bulgaria. The case was referred by the European Commission to the Bulgarian competition authority following a request made under Art. 9 of the EU Merger […]


Borislav Boyanov & Co. Advises CVCI on Equity Investment in the Veterinary Pharmaceutical Sector

Citi Venture Capital International (CVCI) (an emerging markets private equity investor, and a subsidiary of alternative asset management platform Citi Capital Advisors, an arm of global investment bank Citigroup), signed a contract to acquire a significant minority stake in the Bulgarian animal health company Huvepharma. Borislav Boyanov & Co. acted as Bulgarian law counsel to […]


The Supreme Administrative Court Reduces Sanctions for Alleged Cooking Oil Cartel

The firm represented Papas Olio AD, Niva AD, and New Oil AD before the Supreme Administrative Court in a case challenging the allegations of the Commission on Protection of Competition that a purchasing cartel for sunflower seeds existed among 13 cooking oil producers in the country. Borislav Boyanov & Co. became involved in the case […]


Competition Authority Rejects Dominance Complaint on Tying in the Pay-TV and Telephony Markets

The Bulgarian Commission for the Protection of Competition rejected a complaint brought by the Bulgarian Telecommunications Company, Bulgaria’s incumbent telecom, against CableTel, a prominent local Pay-TV, internet and telephony operator (now operating under the Blizoo brand) on alleged abuse of dominance by reasons of tying and bundling of Pay-TV services and telephony offers. The Commission […]


The Supreme Administrative Court ruled that in Bulgaria attorneys-at-law can jointly perform their profession only in the form of law firms and lawyers’ partnerships registered with the Bar

On June 2, 2010 the 5-member panel of the Supreme Administrative Court (SAC) finally ruled on the competition case initiated some two years ago by Bulgarian law firms against several commercial companies which have been established in Bulgaria by or with the participation of foreign lawyers, and have been acting as law firms without being […]


The Firm Acts for News Outdoor in Local Divestment

Borislav Boyanov & Co. advised News Outdoor, a News Corporation company on the divestment of its controlling stake in a local group specialized in outdoor advertising. The firm’s team was involved in advising on transaction structuring, corporate and tax matters related to the transaction. The transaction was completed on May 20, 2010.     Copyright picture:


Boyanov & Co. Successfully Leads EUR 1.3 Million Tax Litigation

The firm acted for Motorola’s Bulgarian subsidiary in a complex and material tax case (principal of over EUR 1.3 million) against the Bulgarian tax authorities. The Supreme Administrative Court substantially quashed the tax assessment and inter alia created an important case-law rule on the proper documenting of expenses for tax purposes. All appeals of the tax […]


Borislav Boyanov & Co. Advises News Corporation on USD 400 Million Divestment

Borislav Boyanov & Co. advised News Corporation on the sale of bTV, its Bulgarian terrestrial TV business, to Central European Media Enterprises (CME), the leading broadcaster in Central and Eastern Europe. News Corporation and CME entered into an agreement concerning the transaction on February 18, 2010 and the transaction was completed on April 19, 2010. […]


Borislav Boyanov & Co. Advises Lidl on the Takeover of Plus

Borislav Boyanov & Co successfully advised the chain store Lidl on all Bulgarian aspects of taking over the competitor Plus on 19 February 2010. In cooperation with Noerr Stiefenhofer Lutz, Borislav Boyanov & Co. supported Lidl on the acquisition of the shares in various companies resulting in acquiring all Bulgarian branches of Plus from the […]


Borislav Boyanov & Co. Acts Successfully for Leaf Tobacco A. Michailides

Borislav Boyanov & Co. was engaged by prominent international tobacco company Leaf Tobacco A. Michailides, Greece, after the licence of their local company for processing of tobacco in Bulgaria was unexpectedly and arbitrarily revoked on December 28, 2009. After a quick and successfull surge of the Litigation and Arbitration and the Administrative Departments of Borislav Boyanov & Co. with the […]


Cross-border Provision of Reinsurance Services

The firm advised major international insurers and re-insurers operating in the United States, Europe, and Canada, on regulatory, commercial and taxation issues in respect to performing cross-border operations in Bulgaria from a third (non-EU) country or through a subsidiary registered in an EU jurisdiction.


Borislav Boyanov & Co. Supports Local AIG and ALICO Operations in Bulgaria

The firm continues to act as legal counsel for the two local AIG representatives – ALICO Bulgaria and AIG Bulgaria Insurance and Reinsurance Company, a relationship maintained since 1997. In 2007, the firm assisted AIG in the process of negotiating of a joint venture agreement and the incorporation and licensing of two local insurance companies […]


Borislav Boyanov & Co. Advises BNP Paribas on the Implementation of the Payment Services Directive in Bulgaria

Borislav Boyanov & Co.  advised BNP Paribas regarding the implementation of the Payment Services Directive in Bulgaria, including in the preparation of local internal regulations, linked to the provision of payment services.     Copyright picture: BNP Paribas


The Firm Advised Major Local CSD Bottler on Collective Redundancy

Borislav Boyanov & Co. supported a major local player in CSD bottling industry with advice on a collective redundancy process related to the restructuring of its business in Bulgaria. The firm continues to provide day-to-day advice on employment issues.     Copyright picture:


Borislav Boyanov & Co. Acts on Real Estate Aspects of One of the Largest Food Retailing Chain’s Local Expansion in Bulgaria

The firm continues to act as local counsel for a major retail investor with respect to its aggressive expansion in Bulgaria, advising on variety of real estate projects, construction, regulatory, commercial, financing and other relevant matters. In providing its continued support, the firm’s team is lead by partner Nickolay Nickolov.     Copyright picture: