During the 2000-2008 real estate investment boom in Bulgaria, our senior team accumulated solid experience by providing legal advice to many foreign and local investors in the financing and acquisition of real estate and the subsequent development of facilities of different purpose and scale. Our lawyers have the experience and the legal expertise to advise clients on all legal aspects related to real estate transactions and real estate project development and construction.
However, in the last few years, the local real estate industry has been faced with significant challenges. Though investors are interested in real estate’s potential, they are increasingly selective about the opportunities they support. The current climate offers certain buying opportunity for those looking for bargains from distressed sellers keen to exit, but the general hindrance for all is the funding gap. This has imposed a number of restructuring operations for real estate holders and developers in Bulgaria, as well as difficult negotiations for refinancing. What is certain is that the changes in this sector require new approaches and innovation.
We can use our long time experience to guide you through the real estate turbulences and help you in all legal issues of investor’s interest, including:
Acting as a Bulgarian law expert in the context of a FIDIC Dispute Adjudication Board
NBLO acted as Bulgarian law experts to a Dispute Adjudication Board constituted under the terms of a FIDIC modelled construction works agreement between the Bulgarian government and a continental Europe-based general contractor. Advised in detail and in successive iterations in relation to the Bulgarian law questions raised by the DAB at the summary of issues stage as well as at the reply and comments stages. Of particular importance to the DAB was the ability of NBLO lawyers to advise on the distinctions between Bulgarian law principles and proximate English and Swiss law concepts in the law of contract as well as to advise on the direct effect and direct applicability of certain European Commission legislation as a matter of Bulgarian law.
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