Borislav Boyanov & Co.

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'The economic and political reform that started in Bulgaria since the beginning of 1990 brought massive changes in the structure of property. Today foreign investments in property in Bulgaria are growing fast and this trend is expected to increase with the expected accession of Bulgaria to the EU on January 1, 2007.

Our Property Practice has been rapidly developing in close relation with our Foreign Investment, Construction, Tax and Corporate Practices to meet the growing challenges. The complexity of the matters we deal with often requires joining the skills of different specialists of the firm. Therefore, Borislav Boyanov & Co. has established a specialised property and construction team to meet the requirements of the increasing number of foreign and domestic investors in real estates as well as the challenges of large infrastructure projects, which have to prepare Bulgaria for its successful integration into the common market of the EU. The firm is a preferred partner for British, Irish, Dutch, Israeli and other foreign and local investors and developers.

Borislav Boyanov & Co. provides a full range of property law services ranging from one-off opinions on specific matters and advice to individual investors to long-term advice on a portfolio of projects and support of large infrastructure projects. In particular, we provide advice and assistance in connection with:

property aspects of M&A, privatization and concession transactionsproperty acquisitions, including, property legal due diligence, structuring the transaction, including adjustment of its financial and tax aspects, negotiations with counterparties, drafting transaction documentation, collateralization of paymentsproperty development, including establishment of local special purpose vehicles, property and development options due diligence, relations between project partners, obtaining required construction and development permits and authorizations, relations with public authorities, infrastructure and utility companies, drafting construction contracts, sale or lease agreements or other contracts for the utilization of commercial propertiescapital in-kind contributions - real estate, machinery, equipment, securities, receivables, etc.
rent and lease (operational or financial) of real estate, aircraft, ship, commercial enterprises, etc.
collateralization of claims - pledges of commercial enterprises, securities, receivables, aircraft chattels, mortgages of real estates and ships; transfer of secured claimsdebt/equity swaps
foreclosure of mortgages and pledges
infrastructure projects - detailed and comprehensive advice on the legal framework, due diligence, assistance during the implementation of the project, negotiating and drafting transaction documents, negotiations with public authorities
property litigation
handling restitution claims

Major projects implemented with the assistance of Borislav Boyanov & Co. include the Euro 580 million project finance transaction for the rehabilitation of Maritsa East III Thermo Power Plant, which included contribution in-kind of the assets of the power plant into the capital of an SPV; acquisition of property companies managing large commercial properties such as the Sofia Central Department Store; Interpred (the former largest office building); Hotel Sheraton Sofia Balkan, Radisson SAS Hotel, etc. We have also advised McDonald’s Bulgaria in the process of the establishment of their restaurant network in Bulgaria through purchase, long-term lease or other transactions as well as AIG Life Bulgaria in the establishment of their network of offices and agencies throughout the country.

SEEuropeOilTransitBorislav Boyanov & Co. has been involved in the development of major infrastructure projects such as the Bourgas-Alexandrou-polis oil-pipeline, construction of regional gas distribution networks, concession of water supply networks, etc.

Borislav Boyanov & Co. has provided services and legal assistance on several projects of the UK based company First Choice Holidays, which has been financing the construction and development of a number of hotels at the Bulgarian Black Sea coast – in the Elenite, Golden Sands and Sunny Beach resorts.

Borislav Boyanov & Co. advises the Canadian Corporation Dundee Precious Metals on all aspects of its mining business in Bulgaria, including the acquisition of private and municipal land, construction of business and commercial facilities, recovery of the land at the end of the mine useful life, etc.

We have represented Ansett Worldwide, United Technologies, CIT Aerospace, Singapore Aircraft Leasing Enterprise Pte. Ltd., Deutsche Structured Finance GmbH and others in connection with the leasing of Western aircraft.

Borislav Boyanov & Co. is currently advising a consortium of foreign investors in a multimillion project for the development of a designated technological and industrial park near one of the major Bulgarian towns as well as the investors in a project for the development of the largest golf resort in Bulgaria.'

Source: http://www.boyanov.com/practice_areas.php3?prId=24

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Borislav Boyanov & Co.


Since its establishment in 1990 Borislav Boyanov & Co. has earned worldwide recognition as a stepping stone for many international businesses in Bulgaria and in recent years - in the region. The firm has developed a modern, dynamic and business oriented practice, dominating the market by providing the highest quality and effective legal services.

With more than 30 lawyers working in offices in five major Bulgarian cities and a representative office in the heart of Europe - Brussels, in close association with the best law firms of the world and as a founding member of South East Europe Legal Group (SEE Legal) and Central and Eastern Europe Law Offices (CELO), Borislav Boyanov & Co. is uniquely positioned to deliver innovative and comprehensive solutions to the needs of international and local clients.

The firm's clients list includes hundreds of the largest multinationals and industry leaders in the world - names famous in banking, financing, insurance, brewing, food, tourism, transport, property, construction, oil and gas, mining, energy, media and communications.

Borislav Boyanov & Co. has advised on the successful privatisation of four banks in Bulgaria, among which also the biggest Bulgarian bank - Bulbank; on the privatisaton of the largest working copper and gold mine in Europe; on the obtainment of the first private national coverage television license; on the privatisation of the incumbent telephone operator - the Bulgarian Telecommunications Company (BTC), as well as on many other very significant foreign investment projects. Throughout the years the firm has advised more than 7,000 foreign and multinational companies.


Foreign and Multinational Companies

adidas - Salomon AG;
Air BP Limited;
Allianz AG
Allied Domecq;
Amadeus GTD;
Amazon.com, Inc.;
American International Group;
American Standard Inc.;
Ansett Worldwide Aviation;
AO Avtovaz;
Aventis CropScience GmbH;
Banco di Napoli;
Bank of America;
Bechtel International, Inc.;
Bell Helicopter Textron;
Bestfoods Europe;
Boyar Estates S.A.
BP Oil International Ltd.;
Carl Zeiss Hungaria Kft;
CISCO Systems;
CGNU plc.
Cogent IPC AB;
Credemlux International SA
Credit Agricole Indosuez;
Credit Suisse First Boston;
Crown Agents;
Daewoo Corporation;
DB Systems GmbH;
Deutsche Bank AG;
Diageo / UDV;
DRS Ahead Technology;
DSD Dillinger Stahlbau GmbH;
Edwards Logistics;
EETEK Hungary;
EFG Eurobank SA;
Electricite de France;
ENEL Produzione SpA;
Export Credit Bank of Turkey;
Fortis Bank NV;
General Electric;
Goldman Sachs & Co.;
GTS Central Europe Holding;
Graffiti BBDO;
Heidelberger Druckmaschinen;
HeidelbergCement AG;
Homestake Mining Company;
HSBC Bank International Limited;
Hungarian Export Credit Insurance Company Ltd. (MEHIB);
Interbrew S.A./N.V.;
International Financial Corporation (IFC);
iRegent Group Limited;
Johnson & Johnson;
JP Morgan;
Kintec SA;
Kraft Foods International, Inc.
Leo Burnett Worldwide;
Maersk Sealand;
Marubeni Deutschland;
Maxus Energy Corp.;
McDonald's Corporation;
Merrill Lynch;
Monsanto Europe S.A.;
Morgan Stanley;
Motorola Inc.;
Mott MacDonald;
Munich Reinsurance Company;
Nalco Chemicals;
Navan Mining plc;
News Corporation Limited;
Nichimen Corporation;
Norsk Hydro;
Nortel Networks plc;
Norpharma SpA;
Ogilvy & Mather GmbH;
Philip Morris;
Procter & Gamble;
RTZ Corporation plc.;
Salomon Smith Barney;
San Paolo IMI;
SBC Warburg Dillon Read;
Seaboard Corporation;
Societa Italiana Acetilene & Derivati S.p.A.;
Sumitomo bank;
The Coca-Cola Company;
TNT Express Worldwide;
Total Fina Elf;
UniCredito Italiano SpA;
Union Bank of Switzerland;
Uniroyal Chemical;
Vinmar International. Ltd.;
Videoton Holding RT
West Merchant Bank Ltd.;
Westinghouse Electric SA;
William Grant & Sons Ltd.;

Bulgarian Companies

ABB Control EOOD;
Access Bulgaria EAD;
AIG Bulgaria Insurance and Reinsurance Company EAD;
AIG Life Bulgaria Zivotozastrahovatelno Druzestvo EAD;
Allied Domecq Agencies Bulgaria EOOD;
Amadeus Bulgaria OOD;
Amstan Hotels AD;
Amstan Trane Bulgaria AD;
Aquarex B AD;
Balkan Mineral and Mining AD;
Balkan News Corporation EAD;
Bimak AD;
BNP Paribas;
Bulbank AD;
Bulgarian Post Bank AD;
Bulgarian Retail Services AD;
Cisco Systems Bulgaria EOOD;
Coca Cola Bulgaria EOOD;
Daru Invest AD;
Demirbank Bulgaria AD;
Eurofrio OOD;
European Hotel Enterprises AD;
Eventing OOD;
Granitoid AD;
Ideal Standard Bulgaria AD;
International Lodging of Bulgaria AD;
Kamenitza AD;
Kappa Technology AD;
Kraft Foods Bulgaria AD
Maersk Bulgaria Limited EOOD;
McDonald's (Bulgaria) EOOD;
Motorola Bulgaria EAD;
Mott MacDonald (Bulgaria) EOOD
Navan - Chelopech AD;
Nortel Networks (Bulgaria) EOOD;
Otis Lift EOOD;
Philip Morris Services Bulgaria EOOD;
Podem AD;
Regent European Property Bulgaria EOOD;
Samba Cafe OOD
Security Management Technologies Bulgaria EOOD;
Sony Bulgaria EOOD;
Summit Inc. AD;
TBG DID Plovdiv OOD;
TBG RDP - Sofia OOD;
TNT Express Worldwide (Bulgaria) EOOD;
Umicore Med AD;
Vidima AD;
Vinprom Rousse AD;
Zlatna Panega AD

Source: http://www.boyanov.com/


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Borislav Boyanov

borislov.imagesMergers and Acquisitions Lawyers
Country: Bulgaria
Country details | Legislation guide | Areas of expertise | Firm listing
Borislav T Boyanov
Borislav Boyanov & Co

82, Patriarch Evtimii Blvd
Sofia 1463
Tel: (359) 2 981 3007; 981 3103
Fax: (359) 2 981 7733
Email: b.boyanov@boyanov.com
Website: http://www.boyanov.com/

Borislav T Boyanov founded Borislav Boyanov & Co in 1990 and is its managing partner.
His practise includes foreign investment, M&A, banking law, corporate and commercial law, mediation, public affairs, energy law, and legislation.

Mr Boyanov's career includes lecturing on civil law at Sofia Economic University (1986-1987), acting as honorary consul for Malta in Bulgaria (2000) and as an honorary advisor to the Minister of Justice on International Legal Relations (2002 – 2005).

Mr Boyanov has been chairman of the board of directors of AIG Insurance and Reinsurance Company since 1994.

He is a registered patent and trademark attorney (1998) and European patent and trademark attorney (2002). He is an arbitrator with the Court of Arbitration of the Bulgarian Chamber of Commerce and Industry.

Mr Boyanov was the first chairperson of SEE Legal (The South East Europe Legal Group) (2003 – 2005) and remains an Honorary Chairperson.

Mr Boyanov holds a Master of Law degree from the Legal Faculty of Sofia University St Kl Ochridsky (first of class of 500, 1978 – 1982) and also studied at the Academy of American and International Law, Southwestern Legal Foundation – Dallas, US in 1990. He was admitted to practise in Bulgaria in 1984.

Mr Boyanov is a member of the Sofia Bar Association and acted as deputy chairman of its Specialized Bureau of Business Law from 1988 to 1990. He has been a member of the Bulgarian Bar Association since 1984.

He is also a member of the International Bar Association (senior vice-chair of the European Forum (1994 to 2004), co-chair of the European Forum since 2004, and country representative); the Brussels Dutch Bar (registered on the list of foreign lawyers); the American Chamber of Commerce in Bulgaria (president, and member of the board of directors); the Confederation of Employers and Industrialists in Bulgaria (board member since 2004, vice president since 2005); Center for American and International Law, Dallas (member of the advisory board of the Institute for International and Comparative Law); British Balkan Legal Foundation (co-founder and director); Balkan Legal Forum (chairman); British Bulgarian Legal Association (honorary member); Center for International Legal Studies – Austria (honorary member); OASIS Legal Association (representative for Bulgaria); TerraLex (representative for Bulgaria); World Services Group (representative for Bulgaria); Legal Development Foundation (chairman); and the Bulgarian Business Leaders Forum.

Mr Boyanov's published work covers international mergers, litigation in Bulgaria, the Bulgarian insurance market, and privatization in Bulgaria. He has written the chapters on Bulgaria in Insurance Regulation in Europe, International Joint Ventures, Legal Aspects of Doing Business in Europe and Commercial Agencies and Distributorships: An International Guide. He also contributes to publications on aircraft finance, business organizations, foreign investments in Bulgaria, equipment leasing, environmental protection, law firm management, the development and future of the legal profession, and others.

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Borislav Boyanov & Co.



The leading bankruptcy practice of Borislav Boyanov & Co. is focused on bankruptcy proceedings against Bulgarian banks and companies and acquisition of assets and on-going business of insolvent companies. The volume of work handled by the firm continues to expand, rendering services predominantly to foreign companies or their Bulgarian subsidiaries. The Bankruptcy Practice is closely related to the Banking, Finance, Commercial, Property and Litigation Practices, as far as the success in this area requires complex knowledge and experience. We assist our clients in the enforcement of their rights against the insolvent entity, and in structuring their claims in the most effective and safe manner. Our services in this area include:

assisting banks and other corporate lenders in taking effective security of their claims

advising banks and other corporate lenders on the enforcement of security and other rights against borrowers

pre-bankruptcy negotiations and rescheduling of debt

preparation and filing applications for the initiation of bankruptcy proceedings

advising on all aspects of the litigation by or against the insolvent entity

representation of creditors in bankruptcy proceedings including representation at Creditors' Meetings and Committees

advising on and preparation of rehabilitation plans

advising on arrangements with creditors, property issues and bankruptcy problems on the financial markets

advising on debt - for - equity swaps, debt - for - debt swaps and similar

advising on and assistance in the implementation of liquidation plans including the purchase (sale) of the on-going business and/or assets of the insolvent entity

collection and repatriation of proceeds from the liquidation of the bankruptcy estate

advising directors on their duties in relation to possible bankruptcy

The firms practice is noted for both the quality of the work undertaken and its broad range. Over the last years the firms lawyers have worked on many of the largest and most complex bankruptcy cases in Bulgaria. As an example: Borislav Boyanov & Co.
represented and assisted 14 creditors holding over 65% of the claims of foreign banks against Mineralbank and Economic Bank, two of the largest state-owned commercial banks. Borislav Boyanov & Co. provided legal assistance to the Spanish credit insurance agency (CESCE) and the Italian state owned foreign credits insurance agency SACE in connection with the transformation of their claims into state debt. The firm has been representing some of the largest foreign creditors of Balkan Bulgarian Airlines.

Bulgarian Business Fear Wave of Bankruptcy in EU


Bulgarian businesses are afraid of a wave of bankruptcies once the country is in EU and also a possible delay of the entry by a year.
These and other apprehensions of 1000 senior managers from various economic sectors were reflected in the annual survey Business Barometer carried out by an association of university professors.

Some 30% of approached managers said they do believe in the enlarged opportunities once Bulgaria gets access to the EU common market, but a total of 37.3% feared Bulgarian business would be incompatible to their European peers.

The percentage of optimists believing in their equal competitive potential stood at 4.2%.

Nearly half of respondents - 44.6% - said the EU entry of the country would produce a wave of bankrupt enterprises here against 3.9% more optimistically thinking businessmen. More than 50% of approached however appeared to be not categorical whether the accession would be more advantageous than disadvantageous to local competitiveness.

The percentage of pessimism concerning the date of Bulgaria's entry to the bloc appeared to be higher than that of optimistic views, as 44.2% expected the country would be delayed for 2008. On the other belief were found to be 42.9% of respondents who are more prone to think Bulgaria will become a EU member on 1 January 2007.

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Borislav Boyanov & Co.

Borislav Boyanov & Co. have been Awarded a Prize in 2006 Bathroom of the Year Competition

liquid-inside 3-pc bathroom set_747February 27, 2007

A bathroom at Borislav Boyanov & Co.’s new offices has been awarded a jury prize in the Hotel and Business Bathrooms category at the 2006 Bathroom of the Year competition which was held by Ideal Standard under the motto Express Yourself. Over 50 projects completed in 2006 and utilizing Ideal Standard products have been included in this third consecutive edition of the competition.


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