Category: Industry news
2 November 2012
New Balkans Law Office and Anelia Tatarova, a tax attorney, are co-organising the presentation: “What happened in 2012 and what can we expect in 2013 in the area of tax law?”.
The presentation, taking place at 08:45 – 10:45 (in Bulgarian, followed by a presentation in English between 11:00 and 12:45) on the 27th November, 2012 in the “Plovdiv” Hall at the World Trade Center/Interpred Sofia, will provide a comprehensive guide for business leaders on the complex area of tax law.
Innovative and robust tax solutions are becoming increasingly important to our clients: whether they are domestic or international. The area of tax legislation and practice in Bulgaria has grown in complexity, and with further developments in the coming year, we have decided to jointly offer this presentation free of charge to business leaders.
The presentation will offer an overview of tax law developments in 2012 and upcoming changes in 2013. The analysis of future developments will ensure participants will be prepared for the coming year.
Of particular focus will be the connection between EU law developments and tax and Kamen Shoylev of NBLO will introduce the role of the CJEU and how EU law can be relied on in defence of tax rights, with Anelia Tatarova detailing the significance of recent Bulgarian references and domestic decisions in the area of tax with EU law significance.
All participants in the seminar will receive information on tax rulings of interest delivered by the Court of Justice of the European Union (“CJEU”) between the presentation date and the end of 2012. Further, all participants will be notified of any changes in the final versions of the domestic tax statutes introduced between the date of the presentation and the date of the coming into force of the legislation discussed.
Register for the event by visiting: http://taxlaw2012-2013.eventbrite.co.uk
or by emailing: email@example.com
We look forward to meeting 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.
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