As of June 1, 2025, the traditional paper labour book will be phased out in favor of a digital alternative. All employment data will now be maintained in an electronic employment register managed by the National Revenue Agency (NRA). This transition is part of a broader effort to modernize the Labour Code and digitize employment relationships, aiming to eliminate the risks associated with physical document loss and to ensure that data is always current and accurate.

Yankulov & Associates has advised Stanislav Gochev on an investment from Adarna Invest for WPP Gorichane that also saw the exit of Valentin Ivanov. Reportedly, Schoenherr advised Adarna Invest and Novel Law advised Valentin Ivanov.

The Anti-Money Laundering and Countering Financing of Terrorism legislative package of the European Union (“EU”), proposed on 20 July 2021 by the European Commission, and approved by the European Parliament plenary this April was published in the Official Journal of the EU on 19 June. The new legislative package introduces significant regulatory changes in connection with the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, both on European and national level.

Contributed by Kinstellar.

Djingov Gouginski Kyutchukov & Velichkov has advised Bianor Holding on its acquisition of Digital Lights and Prime Holding. Karastoyanov, Mitkov & Associates advised the seller of Digital Lights Dimitar Dimitrov. Shopova, Kolarova & Partners advised Prime Holding's sellers Noratex and minority shareholders.

Eversheds Sutherland Bulgarian member firm Tsvetkova Bebov & Partners has advised on TBI Bank's EUR 20 million issuance of MREL notes.

The long-awaited Han Tervel tender procedure has been opened for bidding following the adoption of the Council of Ministers’ decision dated 23 August 2023 and its recent publication in the Official Journal of the EU.

Wolf Theiss has advised Bulgarian-American Credit Bank on its issuance and listing of EUR 15 million 8.00% 2024-2034 subordinated tier 2 notes.

Dimitrov, Petrov & Co has advised Electrawinds Bulgaria on the sale of a 70-megawatt photovoltaic project near the town of Montana, Bulgaria, to an SPV of Mytilineos. Schoenherr reportedly advised Mytilineos.

Schoenherr has advised CloudM Software Limited on its acquisition of Bulgarian software development company BeLean from Nikolay Radoslavov Mitev.

Bulgaria has outlined a procedure for electronic labour records (ELR) in a draft Ordinance published for public consultations on 21 May 2024. The switch to ELR will take effect on 1 June 2025, as stipulated by recent amendments to the Labour Code. This represents a significant step in the long-awaited digitalisation of employment records.

On June 12, 2024, the Bulgarian Council of Ministers released a draft bill for public discussion, aiming to revise the Bulgarian Consumer Protection Act (“CPA”) to align with the requirements of the General Product Safety Regulation 2023/988 (“GPSR”) and the Class Action Directive 2020/1828 (the “Class Action Directive”).

On February 29, 2024, energy experts from Bulgaria, Croatia, Moldova, Turkiye, and Ukraine sat down for a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss the key developments in the field of oil & gas over the past few years.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. While in the legal field maintaining client relationships is vital, there are occasions when law firms must end engagements. To explore some of the reasons that might lead to this, we asked: After accepting mandates, what have been the main reasons for which you ended up having to drop clients?

In mid-2023, the Bulgarian Parliament finally formed a steady Government. The Parliament also introduced predictability in the regulatory environment for renewables along with several legislative developments.

Djingov, Gouginski, Kyutchukov & Velichkov has successfully defended the Bulgarian Supreme Judicial Council in a public procurement dispute related to the creation of an optimization model of the judicial map of Bulgarian courts and prosecutor's offices as well as the development of a unified information system of the courts financed under the Good Governance 2014-2020 program.

CMS has advised OMV Offshore Bulgaria on the permit transfer procedure with the Bulgarian Government and the issuance of a force majeure certificate by the Bulgarian Chamber of Commerce and Industry for the Han Asparuh 1-21 offshore block.

Djingov, Gouginski, Kyutchukov & Velichkov has successfully defended Electrohold Sales in an energy dispute involving clawback and insolvency recovery claims brought by an insolvency creditor in the insolvency proceedings of Future Energy.