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Schoenherr Attorneys at Law
Bulgaria has been in a state of emergency since 13 March due to the COVID-19 outbreak. On 23 March the Parliament voted on a special State of Emergency Act (COVID-19 Act) which...
February 2019 – On 3 December 2018, Bulgaria's Supreme Court of Cassation ("SCC") issued Interpretative Judgment No 1 (the "Judgement") on interpretative proceedings No 1/2017
Wolf Theiss
The Judgment addresses nine questions which were inconsistently resolved by lower courts.
International Law Office D. Vladimirov and Partners
The Bulgarian Commercial Code Chapter on Bankruptcy provides for reorganization or rehabilitation of a legal entity, maximizes asset recovery, and provides for fair and equal distribution among all creditors.
Djingov, Gouginski, Kyutchukov & Velichkov
The amendments concerning the stabilisation procedure will become effective as of 1 July 2017.
Borissov & Partners
Creditors will be able to request from courts to issue a European Account Preservation Order for bank accounts of debtors, read a project for the amendment of the Civil Procedure Code...
Wolf Theiss
For example, the requirement to appoint a special representative of the defendant provides another vehicle for debtors to potentially abuse the process and delay the proceedings while incurring additional costs for the claimant.
Schoenherr Attorneys at Law
On 24 March 2015, the Bulgarian parliament promulgated an emergency insolvency law that makes almost all of the major effects of insolvency proceedings applicable to Corporate Commercial Bank.
Schoenherr Attorneys at Law
Banks in Bulgaria are seriously concerned with borrowers fraudulently manipulating their accountancy books.
Schoenherr Attorneys at Law
The means of obtaining information on a person’s creditworthiness were broadened in 2011 by launching a pending execution proceedings register kept by the Bulgarian Private Bailiffs Chamber.
Schoenherr Attorneys at Law
How does a creditor take security over assets in Bulgaria?
CMS Cameron McKenna Nabarro Olswang LLP
A number of changes have been made to insolvency procedure to remove various discrepancies and controversial practices.
Schoenherr Attorneys at Law
The general legal framework of existing Bulgarian insolvency law covers the core features recognised by the international insolvency community and takes account of EC Regulations and Directives.
March 2019 – On 22 February 2019 and 26 February 2019 two bills were introduced in the Bulgarian parliament to amend the existing Bank Insolvency Act ("Bills").
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