30 November 2015
NBLO's dispute resolution team, led by Yordan Neshkov, secured a success against a large Bulgarian insurer in a claim brought on behalf of a UK national, who had lost her property in a fire. The insurer had refused to pay out under the insurance, on the grounds that a widely drawn clause in its general terms allegedly excused it from paying whenever there was a breach of building regulations, even if (as was accepted in this case) this breach was invisible externally, could not be discovered through reasonable investigation and was not caused by the insured. NBLO had good reasons to argue that this position was unsupported in the Bulgarian Insurance Code or civil law generally and persuaded the Supreme Cassation Court to back it. This is covered more fully in an article on our website.
Acquisition of City Center Sofia by Heitman Investment fund for €101.5m Acquisition of CCS
NBLO advised the investment fund Heitman European Property III on the €101.5m acquisition from Equest of the 'City Center Sofia', the most established and profitable urban shopping centre in Bulgaria. Since then, NBLO has been the sole provider of ongoing legal services to the Center, involving a variety of largely commercial property issues.
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