Sunday 19 October 2014 — Friday 24 October 2014
NBLO's Managing Partner, Kamen Shoylev, is taking part in the International Bar Association Annual Conference.
The conference is being held from 19 to 24 October in Tokyo. It gets over 5,000 lawyers from a wide range of jurisdictions together and hosts several hundred sessions on a wide range of topics of professional interest to lawyers and to their clients.
This is an opportunity for New Balkans Law Office to acquire and maintain up-to-date best-practice know-how, and to develop and maintain links with lawyers in a large number of jurisdictions which brings a significant benefit to its clients.
As Bulgaria's go-to firm for cross-border businesses, NBLO strives to maintain such international exposure continuously.
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 2019