On June 23, 2021, CEE Legal Matters reported that DGKV had advised Internet Corporated Networks on the sale of its hosting and domain business to Superhosting.bg. CEE In-House Matters spoke with Julian Borislavov, CEO and Co-Founder of ICN to learn more about the deal.
Bulgaria’s accession to NATO in 2004 challenged the country’s army to modernize its armaments and replace obsolete military equipment. This is a multi-stage process, based on a series of political decisions and a consistent implementation of a long-term strategy. Bulgaria must catch up with the other CEE members of the Alliance, which have already completed or are in an advanced stage of modernizing their armies and are already in the capacity-building process. What Bulgaria is planning, how that plan is being executed, and what opportunities we should look forward to in the near future are critical considerations.
The July 17, 2021 deadline for implementing Directive (EU) 2019/1023 of the European Parliament and of the Council of June 20, 2019, on preventive restructuring frameworks, on discharge of debt and disqualifications, and on measures to increase the efficiency of procedures concerning restructuring, insolvency, and discharge of debt, and amending Directive (EU) 2017/1132 is quickly approaching, leaving little time for EU Member States to adjust their national legislations to its requirements.
Looking at the past 18 months, as economies across CEE contracted, the technology, media, and telecom sector has been surging. A balancing factor for economies, it helped avoid a deeper recession. For CEE law firms, TMT’s solid performance brought in a steady amount of work, helping polish what might otherwise have been a lackluster year.
Before the democratic changes of 1990 lawyers worked independently but under the supervision of the Minister of Justice. Remunerations were limited, leading to an administrative distribution of work. Lawyers were mainly involved in family and inheritance law, sale-purchase of housing, and cooperative relations.
With the interim government firmly in charge until the upcoming elections take place, Bulgaria is experiencing strong economic wind in its sails, according to Wolf Theiss Partner Richard Clegg.
CMS has advised the Export-Import Bank of Korea on a USD 36 million financing extension deal with Grain Terminal Holdings.
CMS has successfully represented Global Biomet in proceedings against the Ministry of Finance of the Republic of Bulgaria in a dispute related to the country's feed-in tariff.
Schoenherr has advised MET Group on the acquisition of a 60-megawatt operational wind park in Suvorovo, Western Bulgaria, from Grupo Enhol.