We have heard this question often from clients and peers, mainly from foreign jurisdictions. We’ve always responded that this is a relevant question and it must not be neglected since it needs to be considered along with all associated risks (such as legal, financial, reputational, etc.) and costs. We say: “If you are a third […]
As legal advisers of foreign investors, we sometimes, more often than we would have liked to, sense our current and prospective clients’ frustrations at certain inadequacies of the Bulgarian legal system and business environment. Negative experiences occasionally lead reputable and successful foreign companies that are market leaders in their and other foreign jurisdictions to the decision […]
Bulgaria’s Parliament is currently discussing a draft law on amendment of the effective Protection of Competition Act. The bill has been proposed by individual Members of the Parliament and is a result of a continued lobbying by several groupings of local companies, mainly from the food and beverage industries. If enacted by the Parliament as […]
THIS POST provides a summary overview of the national public procurement appeals legislation and procedure. Procedure Appeal before the CPC The procedure for appeal of decisions and actions of a contracting authority is set out in the Bulgarian Public Procurement Act (PPA). Submission and admissibility Complaints against decisions of the contracting authority can be […]
In Part 1 of this blog we discussed the criteria for the applicability of the merger control and in Part 2 the procedure and the relevant practice of the Bulgarian competition authority. In this final, Part 3 of the blog, we discuss the types of decisions that the CPC is empowered to take on merger […]
Should a contemplated transactions satisfy the criteria discussed at Part 1 of this post, the mandatory merger control would apply and the responsible party or parties must file a notification with the CPC. Filing must be made prior to closing/implementation of the contemplated transaction. Bulgarian competition laws do not specify an exact term for filing. […]
Introduction When you consider an investment in Bulgaria or exiting an existing investment (either an entity, a business as a going concern or a part of it, or an income generating asset) you would diligently check if the contemplated transaction would trigger the requirement for a mandatory merger filing. As a starting point, it will […]
Here are four important aspects of Bulgarian merger control that an investor may want to consider before proceeding with a contemplated acquisition of businesses or assets in our country: Merger filings are mandatory, if the specified annual turnover thresholds are exceeded. Only turnover generated in the territory of Bulgaria is relevant. Generally the party acquiring […]
