Commercial law

We advise on a broad range of commercial agreements, both on the supplier and customer sides. Our commercial practice typically involves a Bulgarian and an international counterparty. Our particular expertise is in the field of drafting standard terms and conditions on behalf of suppliers for on-line and off-line commerce. We also assist in the negotiation of licensing, franchising and marketing arrangements and the areas outlined below merit special mention as part of our practice.

Cross-border commercial transacting

We appreciate that commercial contracts need to meet clients' commercial goals but also keep within the requirements of the intricacies of Bulgarian law. We also appreciate that the contracts we advise on involve companies in multiple jurisdictions and that therefore there are often cross-jurisdictional issues which need to be addressed.

Trade finance

We offer quality service, advising on the full spectrum of finance and finance-related issues. We advise borrowers, lenders, lessors, lessees, debt and equity issuers, and guarantors in a wide range of capital market and other financial transactions. We deliver complex and comprehensive advice on all aspects of the financing including regulatory, tax, custody, and other aspects. We bring together the knowledge and expertise of lawyers from different practice groups to provide effective and creative solutions to our client's corporate financing needs.

Advice to the outsourcing industry

Bulgaria continues to vie as one of the leading European locations for outsourcing business services. The AT Kearney Annual Survey for 2009 ranked Bulgaria 13th as a global outsourcing destination. To tap into the advantages of the trend in outsourcing a variety of business processes, businesses need to ensure that a range of well-conceived legal protections and guarantees are in place.

We can help deliver such flexibility for outsourcing companies by preparing and negotiating the master and ancillary outsourcing contractual terms. It will also be essential for counterparties to an outsourcing arrangement to ensure there are adequate transitional services in place both when the processes are first outsourced and again upon cessation, or replacement of a previous provider.

We can help Bulgarian providers ensure that they are adequately protected in the initiation and continuation phases by ensuring the appropriate allocation of risk.

Recent work:

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 2017