Our team has advised on a complex multi-jurisdictional enforcement and specifically on the sale of assets of the Bulgarian divisions of the bankrupted Ecophos and Aliphos Groups, international producers of phosphorus products. We were tasked by a syndicate of banks, led by KBC Bank, to provide support with various issues pertaining to the enforcement, including negotiating and helping document the sale of the Bulgarian assets of the bankrupt borrowers and related security release and disposal of assets.
We have assisted with the extensive structuring and negotiation of the transaction and acted on the release of the pledges established by over Aliphos Bulgaria EAD and Technophos EAD until the successful closing. Subsequently, we were assisted the worldwide manufacturer of chemical products Prayon S.A. in relation to the successful completion of the purchase of the shares of Technophos EAD.
The project involved significant legal complexities which the team, led by the counsel Nadia Hadjova and supported by the associate Krasimir Mitkov, managed successfully.
Date: July 2020
Source: Spasov & Bratanov Lawyers’ Partnership