Renewable energy in Bulgaria – new rules in force since October 2023
Important amendments of the rules on renewable energy have been passed by Bulgarian Parliament recently. Among other things those include: • Expansion of the framework for encouragement of RE projects; • Various changes to the rules on connection of RE installations to the grids; • Rules aimed at increased transparency and improvement of procedures and […]
Changes in rules on insolvency and stabilization in Bulgaria
Insolvency and stabilization proceedings in Bulgaria have recently undergone legislative amendments introduced with the objective of increasing their effectiveness. Our Bulgarian team summarised the changes in this article.
A new type of company introduced in Bulgaria
A new type of company has been introduced in Bulgarian company law for the first time in decades. The new company form is the variable capital company and our Bulgarian team has prepared a concise leaflet presenting the main features of the variable capital company in comparison with the two most popular traditional company types. […]
Amendments to anti-money laundering legislation in Bulgaria
A new law amending the Bulgarian Anti-Money Laundering (AML) Act was published on 14th of July 2023. It introduces a number of measures, some of them upon the recommendations of certain European institutions. We have selected and presented below those we find most important. I. Notifications to the Registry Agency in regards to incorrect UBO […]
PETERKA&PARTNERS Bulgaria advised local subsidiary of a leading chemical distributors in CEE on regulations governing the reserves of oil and related products
PETERKA&PARTNERS Bulgarian team advised the local subsidiary of one of the leading chemical distributors in the region of Central and Eastern Europe on matters arising under the regulations governing the reserves of oil and related products. The advice required a complex legal analysis, including unconventional issues and exploration of court practice in the context of […]
New Interpretative Decision on Preliminary Contracts in Bulgaria
On May 9, 2023, the Bulgarian Supreme Court issued a new interpretative decision concerning preliminary sale contracts and their conversion into final ones. Background Preliminary contracts are contracts on future contracts, i.e., agreements signed at an early stage of a transaction that aim to bind the parties to undertake certain steps and subsequently proceed to […]
PETERKA & PARTNERS Bulgaria advises a technology and logistics group operating in the CEE
PETERKA&PARTNERS Bulgaria assists the local subsidiary of a fast growing technology and logistics group operating in the CEE region providing services for e-commerce, retail, restaurants and fast food on various general commercial and compliance matters, including advice on contractual, lease, insurance, data and trade secrets protection.
PETERKA & PARTNERS Bulgaria contributes to the CEE Legal Matters Comparative Legal Guide for Corporate Governance
PETERKA & PARTNERS contributes to the latest CEE Legal Matters Comparative Legal Guide for Corporate Governance. Svetlana Todorova, Deputy Director and Senior Associate, and Ivelin Chernaev, Senior Associate, both at PETERKA & PARTNERS Bulgaria summoned up local laws, regulations, and industry standards that define the operations of a corporation and other legal responsibilities and obligations […]
Whistleblowing legislation adopted in Bulgaria
The local Bulgarian whistleblowing legislation is in place! The new law applies as from: • 2 May 2023 to employers with 250 or more employees and employers active in certain sectors irrespective of the number of employees;• 17 December 2023 to employees with 50 or more employees. Key issues to be addressed by employers: • […]
New Developments on Liability of Legal Entities for Criminal Acts in Bulgaria
Plamen Peev, Partner and Director at PETERKA & PARTNERS Bulgaria, prepared an article focusing on the new developments on liability of legal entities for criminal acts in Bulgaria and summarizing the most essential conditions for the liability of legal entities. For more detailed information please see the full article.