29
Fri, Mar
51 New Articles

CMS Successful for Global Biomet Against Bulgarian Ministry of Finance

CMS Successful for Global Biomet Against Bulgarian Ministry of Finance

Bulgaria
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

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.

According to CMS, between January and August 2014, "the Bulgarian state budget collected 20% fees from the income of all solar and wind producers in the country prior to these provisions of the Renewable Energy Act (2011) being declared unconstitutional by the Bulgarian Constitutional Court. Regardless of Ruling 13 under Constitutional Court case No 1/2014, the Bulgarian state refrained from paying back to the renewable energy investors the fees, which were collected under the unconstitutional provisions, which were repealed by the Bulgarian Constitutional Court." According to the firm, "instead of a settlement, which was offered by the investors, the Bulgarian Ministry of Finance decided to litigate all renewable energy producers for a period of 7 years."

According to CMS, the Bulgarian Ministry of Finance decided to skip the third instance appeal process and has practically surrendered its position.

CMS's team was led by Sofia-based Managing Partner Kostadin Sirleshtov and Partner Assen Georgiev and included Senior Associate Borislava Piperkova, Associates Elena Yotova – Yordanova and Yana Antonova, and Trainee Teodora Peycheva.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

Firm's website.