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 […]


BOYANOV & Co. is a Top Trademark Firm in 2017 Rankings of the World Trademark Review 1000 and IP Stars

BOYANOV & Co. has received the top Gold Band and Tier 1 rankings for leading trademark firms in the newly published listings of the two most reputable legal directories for IP practitioners: World Trademark Review 1000 and IP Stars. In its 7th edition released in 2017 the WTR 1000, which traditionally recommends only the best […]


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”. […]


Creditors secured by a special pledge can no longer enforce their pledge after the opening of insolvency proceedings of the pledgor

At the end of 2016 the rules on the most widely used type of pledge in Bulgaria (the so called “special pledge”, i.e. a pledge where the pledged assets remain in the possession of the pledgor) were changed. One of the changes restricts the possibility of the secured creditor to sell the pledged assets in […]