In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. Given the dynamic and ever-evolving nature of the legal profession, we asked: What is the one critical skill that you’re investing time and energy in to develop within your team, and why?

In September 2022, CEE Legal Matters reported on Bulgaria’s outstanding legislative packages caused by three parliamentary elections being held in the span of eight months. Nearly two years later, Hristov & Partners Partner Dragomir Stefanov, Kambourov & Partners Partner Veronika Hadjieva, Penkov, Markov & Partners Associated Partner Nikolay Voynov, Peterka & Partners Partner Plamen Peev, and Schoenherr Bulgaria Co-Head of Real Estate Elena Todorova discuss the progress made after the extended legislative hiatus.

After years of preparation, Bulgaria’s integration into the Schengen area marks a significant moment, with the lifting of border controls at air and sea entry points as of March 2024. Boyanov & Co Managing Partner Borislav Boyanov, Dinova Rusev & Partners Managing Partner Ivelina Cherneva, Djingov, Gouginski, Kyutchukov & Velichkov Partner Anton Krustev, and Gugushev & Partners Senior Partner Victor Gugushev discuss Bulgaria’s pursuit of Schengen integration.

An in-depth look at Diana Dimova of Kinstellar covering her career path, education, and top projects as a lawyer as well as a few insights about her as a manager at work and as a person outside the office.

Although 2024 is just beginning, below we have summarized the trends and projects expected to have an impact on the development of the real estate market in Bulgaria:

Boyanov & Co, working with Gianni & Origoni, has advised UniCredit Bulbank and the United Bulgarian Bank on their financing for Plastchim-T's acquisition of Manucor.

Historically and statistically, most joint ventures and business combinations have short and difficult lives. Lawyers can assist with preparation and negotiation of best of class, workable and practical corporate and legal structures and agreements. But only the parties, the would-be partners, can make the combined business work and succeed.

Taylor Wessing has advised the shareholders of the international Denkstatt Group on its integration with EY in Austria, Bulgaria, Romania, Hungary, and Slovakia. EY Law reportedly advised EY.

Komarevski Dimitrov & Partners has advised Witte Automotive on its accelerated buy-out of the minority stake in Witte Injection Molding Bulgaria – previously operating as Forez BG – from FH holding. PwC Legal reportedly advised FH Holding.

On the evening of April 25, 2024, the Deal of the Year Awards Banquet brought together, under the same roof, top-tier lawyers from Central and Eastern Europe's leading law firms in the region in Warsaw.

Following the development of the EU legislation and reflecting market needs and increasing interest in trading with guarantees of origin, the Bulgaria’s Ministry of Energy adopted new Ordinance No. Е-РД-04-2 of 2 April 2024 on guarantees of origin of energy from renewable sources. The new Ordinance was promulgated in State Gazette No. 32 on 9 April 2024.

Djingov Gouginski Kyutchukov & Velichkov has advised Bulgarian Stock Exchange-listed Bianor Holding on a capital increase through a share issuance that attracted 199 investors, including several institutional investors.

The most recent promotion round at CMS saw 54 lawyers promoted to the firm's partnership ranks, including Austria-based Daniela Kroemer, David Kohl, Florian Mayer, Kai Ruckelshausen, Lukas Peissl, Marlene Wimmer-Nistelberger, and Sonja Otenhajmer, Bulgaria-based Jenia Dimitrova, Hungary-based Agnes Solyom, Eszter Torok, and Katalin Horvath, and Poland-based Tomasz Sancewicz.

CMS has advised Greece's Public Power Corporation on a cooperation framework agreement for the development and construction of almost 90 solar projects of up to 2,000 megawatts in Romania, Italy, Bulgaria, and Croatia. The deal is valued at up to EUR 2 billion and is expected to be implemented over the next three years.

Did you know that, according to the Activity Rankings function of the CEELMDirect website, of the 88 law firm partners who have reported working on disputes in CEE over the past 12 months, only nine have reported working on more than one?

CMS has advised Greenvolt Power Solar Poland on its acquisition of an 80-megawatt photovoltaic project – including a battery energy storage system capable of storing electricity up to 25 megawatts per four hours – from AES Global Power Holdings. Spasov & Bratanov, working with Bracewell, advised the seller.

Kambourov & Partners, working with Latham & Watkins, has advised Triton Partners on local aspects of the carve-out and acquisition of Siemens Energy’s Trench high-voltage component business. Baker McKenzie advised Siemens Energy. White & Case advised a syndicate of banks and financial institutions on financing the acquisition.