This review was prepared for Ukrainian refugees by the law firm Tsvetkova Bebov & Partners upon request and in coordination with the international legal network Multilaw and Ukrainian law firm Arzinger. The review is as of March 11, 2022, will be updated as relevant, also Ukrainian translations will be added. The review is not a legal advice and is for informational purposes only. For updates, please follow www.multilaw.com and/or www.arzinger.ua

On April 5, 2022, leading lawyers from across all of CEE will be coming together for the Dealer's Choice Conference and Deals of the Years Awards Banquet. Leading up to the event, we spoke with Oana Ijdelea of Ijdelea & Associates to learn what they are looking forward to the most.

On August 19, 2021, CEE Legal Matters reported that Schoenherr had advised the MET Group on the acquisition of a 60-megawatt operational wind park in Suvorovo, Western Bulgaria, from Grupo Enhol. CEE In-House Matters spoke with Sandor Zorad, M&A Legal Counsel at the MET Group, to learn more about the deal. 

In 2012, the Bulgarian Parliament introduced statutory rules regarding the activities of temporary staffing enterprises (TSAs). Before that, their existence and operations were recognized and tolerated in practice, but their activities took place in a legal vacuum.

At the end of November 2021 Bulgarian Competition Protection Commission (CPC) launched inquiry of the consumer goods and services e-commerce sector (The Sector Inquiry). The Sector Inquiry is part of CPC's priority in the field of antitrust for 2021 to monitor constantly digital markets for prohibited agreements or practices as well as for abuse of dominant position. CPC also defines the e-commerce sector as one of its investigations top priorities in 2022.

Bulgaria is already in delay with the transposition of Directive (EU) 2019/1937 on the protection of persons who report breaches of Union law (the “Whistleblowers Directive” or the “Directive”): like several other member states, Bulgaria has so far failed to bring into force the laws, regulations, and administrative provisions necessary to comply with the Directive. The European Commission has already sent a formal notice for non-transposition of the Directive on the grounds of Article 258 TFEU - Article 260(3) TFEU.

In 2018 the Bulgarian Stock Exchange (BSE) was granted approval by the Financial Supervision Commission (FSC) to create the new Small and Medium Enterprises (SME) Growth Market BEAM (Bulgarian Enterprise Accelerator Market), under the provisions of the Markets in Financial Instruments Directive 2014/65/EU (MiFID II). The new segment of the BSE aims to promote the development of small and medium-sized companies, which have a key role in the economic growth of the country.

Gugushev & Partners has promoted Victor Gugushev and Dafinka Stoycheva to Senior Partner.

Political stability, managed inflation, and support plans for the most vulnerable social groups and businesses could ensure a financially stable year in Bulgaria, according to Tsvetkova Bebov & Partners Managing Partner Nikolay Bebov.

In December 2021 the Bulgarian Parliament adopted a moratorium on electricity, water supply and heating prices on the regulated market. The moratorium was imposed due to the record high electricity prices on the Independent Bulgarian Electricity Exchange ("IBEX") and the expected adjustments in the prices on the regulated market applicable to household customers. The Bulgarian Energy and Water Regulatory Commission ("Regulator") has been prevented from taking any action regarding these price increases until 31 March 2022 by virtue of the moratorium.

The first regular government formed after three extraordinary parliamentary elections, with pending reforms on the horizon, are a source of moderate optimism in Bulgaria, according to Djingov, Gouginski, Kyutchukov & Velichkov Partner Violetta Kunze.

Contributed by Schoenherr.

Tsvetkova Bebov Komarevski has changed its name to Tsvetkova Bebov & Partners, following the departure of Ilya Komarevski. Aside from the new name, the firm announced that Victoria Tzonkova and Damyan Leshev were elevated to Partner, while Eleonora Mateina was appointed to Head of Competition and Pharmaceuticals. 

Former Tsvetkova Bebov Komarevski Partners Ilya Komarevski and Venelin Dimitrov have established a new firm in Sofia – Komarevski Dimitrov & Partners.

Former Kambourov & Partners Founder and Partner Mitko Karushkov opened a new law firm in Sofia – Karushkov Legal solutions.

In February 2021, the Bulgarian Parliament adopted a major amendment to the Law on Protection of Competition (LPC). More than a hundred provisions were amended or newly introduced, making this change arguably the largest since the initial adoption of this law in 2008.

Antoniya Markova, Daniela Petkova, Yoanna Ivanova, and Kostadinka Deleva have been appointed as Partners with Gugushev & Partners in Bulgaria.

In recent years, as a result of the global political and economic environment and the consequences of the Covid-19 pandemic, the e-commerce has become a preferred method for trading goods and services for both businesses and consumers. More and more online trading platforms are emerging, where platform operators connect sellers and buyers using different business models and payment mechanisms.