By way of Decision No. 175 of February 13, 2026, the Council of Ministers submitted a proposal to the National Assembly for the denunciation of the Energy Charter Treaty (the “Treaty”) and its related Protocol on Energy Efficiency and Related Environmental Aspects, signed in Lisbon in 1994. This move is not an isolated national decision, […]
Bulgaria Withdraws from the Energy Charter Treaty Read More »
From January 1, 2026, the euro will become Bulgaria’s official currency for invoicing, financial reporting, and all monetary transactions, replacing the lev at the fixed exchange rate of 1 euro = 1.95583 leva, as determined by the European Council. Our team has summarized the most important information for companies regarding the introduction of the euro
Bulgaria’s Accession to the Eurozone: What Companies Should Prepare For Read More »
Chambers Europe has released its 2025 guide, ranking KDP among the best Bulgarian law firms at Corporate & Commercial and Employment. In the individual lawyer categories, our Managing Partners Ilya Komarevski and Venelin Dimitrov once again were recognized as a leading professional, earning the following rankings: Ilya Komarevski – Band 1 at Employment; Band 2
On February 25, 2025, the Minister of Finance and the Governor of the Bulgarian National Bank signed a request addressed to the President of the European Commission and the President of the European Central Bank for the preparation of extraordinary convergence reports on Bulgaria’s compliance with the criteria for joining the Eurozone. After reviewing these
Bulgaria Moves Closer to Euro Adoption Read More »
On January 31, 2025, the Regulations for the Organization and Activities of the Inter-ministerial Council for Screening of Foreign Direct Investments (the Regulations) were promulgated. This represents another step in the process of implementing the screening procedure for Foreign Direct Investments (FDI) in the country. Background In 2024, the National Assembly incorporated the screening procedure
A New Step in Bulgaria’s Foreign Direct Investment Screening Mechanism Read More »
It is a great pleasure to share that KDP has been ranked among the best Bulgarian law firms in Corporate & Commercial in Chambers Global 2025. In the individual categories, our Managing Partners have been recognized in Corporate & Commercial as well as in Dispute Resolution. What our clients and partners say about us: “KDP
KDP ranked by the Chambers and Partners Global 2025 guide Read More »
It is our pleasure to share the 4th part of our series on M&A Completion Mechanisms. Below we provide a comparison between the two completion mechanisms in their pure forms. See the full article below or download it.
Completion Mechanisms – Completion Accounts vs Locked Box Accounts (Part 4) Read More »
Unlike the Completion Accounts Mechanism, where the purchase price is finalized after Completion, in the “pure” Locked Box Accounts Mechanism, the purchase price is finalized prior to Signing, when the seller still holds title and control over the Target. Under the Locked Box Mechanism, the Equity Value is determined based typically on the accounts provided
Completion Mechanisms – Locked Box Accounts (Part 3) Read More »
The Completion Accounts Mechanism is praised in the M&A world for more accurately capturing the Equity Value. The simple reason is that the Equity Value is calculated as at the date of Completion. This allows to reflect into the Equity Value every transaction of the Target made by the date the Seller transfers the title
Completion Mechanisms – Completion Accounts (Part 2) Read More »
On 4 July 2024, the Minister of e-Government proposed a bill for amendment to the Cybersecurity Act transposing NIS 2 Directive (EU) 2022/2555. All interested parties may publish their comments on the bill in the public consultation process until 3 August 2024. The amendments in the Cybersecurity Act provide only general risk management and reporting
Non-solicitation (no-poach) arrangements may restrict competition between employers, lowering productivity and salaries, restricting expansion or entry of competitors, hindering innovation and even increasing consumer prices. We have outlined those aspects of the non-solicitation arrangements in our previous article on this topic Bulgaria: Non-Solicitation Clauses in Commercial Contracts. Non-solicitation arrangements are widely used in Bulgaria in
When will the FDI screening rules become applicable? On 08.03.2024 amendments to the Bulgarian Investment Promotion Act (“IPA”) were promulgated in the State Gazette, introducing criteria for foreign direct investments in Bulgaria, which will be subject to preliminary screening. However, the FDI screening will not yet be applicable in practice until the Council of Ministers
Bulgaria introduces a foreign direct investments (FDI) screening regime Read More »
