28 March 2013
On the 28th March, 2012, NBLO hosted the first in a series of events for graduates and current students of the universities. The event, held at Club Motto, was a huge success: it drew over 30 graduates from the universities, as well as representatives from Davidson college and UCL for a lively evening. We would like to thank The University of Cambridge Society in Bulgaria and The Oxford University Society in Bulgaria for their support of the event.
The evening was a wonderful chance to connect with other Oxbridge and LSE alumni working in Sofia and for the community to mingle. Several exciting new initiatives were discussed, and the event is a good basis future cooperation between alumni groups. We hope that this is one of many events of its type, building on the success of the first.
If you are interested in hearing about future events, or would like to share your ideas about talks, conferences or other ways to draw on the network, please get in touch with Denny Jicheva (firstname.lastname@example.org). We would be delighted to hear from you.
Stopping the improper use of insolvency proceedings
A client of our dispute resolution team (led by Kamen Shoylev and Yordan Neshkov) was recently the subject of an indirect claim by a Bulgarian bank with which this client has been engaged in a multi-stage dispute. Unusually, the bank acted through a vehicle registered in an African state, which made an unfounded claim in the tens of millions of euros against our client and sought the commencement of judicial insolvency proceedings against this client. The offshore vehicle was chosen to isolate the bank from liability and create certain evidential difficulties for our client's representation.
NBLO succeeded in terminating the insolvency proceedings, with direct loss fully awarded to our client. A second claim to recover our client's indirect losses is currently under way.
Where targeted in this way through insolvency proceedings, a company may be prevented from trading properly (e.g., by suffering restrictions on its financing or being unable to participate in public procurement).
Through our considerable experience in insolvency litigation, both entirely domestic and where there are European and cross-border elements, we are ideally placed to assist clients in resisting such attacks and recovering the real and considerable losses that may be suffered.
© New Balkans Law Office 2018