New Balkans Law Office offers bespoke services to corporate and private investors and syndicates of investors which operate in or are based from the Bulgarian marketplace, or which are considering establishing a local presence.
Our corporate clients originate from a variety of industries and from the start, we have served organisations (including multinational businesses, venture capitalists, clubs and syndicates of investors, not-for-profits and public bodies) originating from all major global economic regions.
We advise investors fresh to or seasoned in Bulgaria, and participate in the structuring of regional and international transactions which aim to make use of Bulgaria's advantageous corporate and tax infrastructure. Since our establishment, we have grown both in terms of our international client base and in the variety and complexity of the professional case load we regularly handle.
Please select a practice area of interest from the list on the left, to find out more about some of our capabilities.
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