Category Archives: news

The litigation team of Spasov & Bratanov successfully defended before the Supreme Court of Cassation a company against a claim of a bank in bankruptcy on the legal grounds of Art. 59, para 3 in relation to para 4 of the Bank Bankruptcy Act for invalidation of set-offs in amount of BGN 12,169,119. This decision…
Read more

Spasov & Bratanov advised Bulgarian Energy Holding EAD as to the Bulgarian law on its issue of EUR 400,000,000, 3.500 per cent. Bonds due 2025, listed on the Irish Stock Exchange, including with respect to the intended subsequent dual listing of the Bonds on the main market of the Bulgarian Stock Exchange. The team was…
Read more

Spasov & Bratanov acted as legal counsel to a syndicate of lenders with regard to an up to EUR 365 million senior, secured financing arranged by Citibank N.A., London Branch and VTB Bank (Europe) SE and with Citibank Europe plc, UK Branch acting as Agent,  provided to the Bulgarian telecommunications Company EAD for the purposes…
Read more

In one of its premiere transactions since the opening of the European Investment Bank’s regional office in Bulgaria in 2017, Spasov & Bratanov successfully advised the European Investment Bank in relation to a EUR 100,000,000 credit facility made available to Biovet AD – manufacturer and marketer of medicated and nutritional feed additives, part of the…
Read more

The litigation team of Spasov & Bratanov successfully defended a major bank against a client’s claim for compensation of circa BGN 290 thousand due to alleged unauthorized access to the client’s safe box with that bank. This was the third similar case with favorable outcome for the bank achieved with the assistance of S&B. The bank…
Read more

Our corporate practice is again gaining the spotlight on the Bulgarian M&A market as we advised Modern Times Group AB on the Bulgarian law aspects of its divesture of Nova Broadcasting Group AD with Allen & Overy acting as lead counsel as to English law. Nova is a Bulgarian commercial media group consisting of several…
Read more

As part of the BNP Paribas group strategy to simplify the legal structure of the personal finance activities and to generate synergies between its operations in the CEE, alongside with Allen & Overy Paris, we advised BNP Paribas Personal Finance S.A. on all aspects of its cross-border merger with its Bulgarian subsidiary BNP Personal Finance…
Read more

Catching on the rising real estate wave, we acted for the investing stakeholders on the sale of two office buildings in Sofia to WING Zrt. - a leading Hungarian office space developer. Notably one of the buildings is in the area of the up and coming Sofia Tech Park. The complex transaction which closed just…
Read more

ENERGO-PRO a. s. issued EUR 370,000,000, 4.00 per cent. Guaranteed Notes due 2022, listed on the Irish Stock Exchange, guaranteed by issuer’s subsidiaries including the Bulgarian ENERGO-PRO VARNA EAD. Our capital markets practice had the opportunity to assist the process acting as a legal advisor of the joint bookrunners Citigroup Global Markets Limited and J.P.…
Read more

Spasov & Bratanov advised and represented CEZ Razpredelenie Bulgaria AD on its appeal of a decision Competition Protection Commission, imposing a fine of BGN 1.25+ million towards alleged breach of Art.21 of the Competition Protection Act. The company, represented by Kremena Yaneva-Ivanova and Georgi Spasov, successfully refuted at the court the allegations that the company…
Read more