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Europe 2022
Bulgaria Banking & Finance
Band 1

2 Ranked Lawyers


Provided by CMS

CMS Sofia was founded in 2005.  We are currently the largest international law firm on the local market, with almost 30 lawyers. CMS Sofia is the headquarters of CMS in Bulgaria. This means that, in addition to our strong local roots and excellent reputation on the Bulgarian market, we are part of an organisation with over 5000 legal and tax professionals in 40+ countries. All our lawyers work extensively with international colleagues across CMS and specialise in working within industry sectors from the beginning of their careers. As an organisation doing business in Bulgaria you will work with the right combination of lawyers from our full service practice.

Our banking and finance team’s expertise ranges from transactional support to regulatory work. Areas of expertise include regulatory and compliance advice, corporate finance, real estate finance, restructuring/insolvency, project and commodity finance, asset finance and leasing, derivatives, treasury management and capital markets. Our strong knowledge of the sector, combined with our depth and breadth of resources, means that we are able to provide assistance quickly and efficiently.

Chambers Review

Provided by Chambers
Banking & Finance - Bulgaria
Band 1
What the team is known for

CMS is sought after by financial institutions based across the CEE region, Germany and Austria thanks to the firm's strong European network. In Bulgaria it is a leading law firm for a variety of financing matters, including acquisition and real estate finance. The firm also offers experience in portfolio acquisitions and advises international investment banks as well as domestic ones. It offers English as well as Bulgarian law capacity within the team.


One client praises that "the delivery of the advice was immaculate, and the overall performance and professionalism of the team top-notch."

"They are able to give nuanced practical advice and put things in both a commercial and regulatory context," another client remarks.

Work highlights

CMS acted for the lenders on the EUR131.7 million syndicated refinancing of Business Park Sofia.

Notable practitioners

Elitsa Ivanova is a well-regarded lawyer who often advises on project and commodity financing as well as assisting clients with regulatory matters. One client remarks that "she is an excellent, practical adviser who is able to execute transactions in a sound manner without over-complicating or over-lawyering."

Gentscho Pavlov is co-managing partner of the Sofia office. He has a robust practice acting on behalf of financial institutions on syndicated refinancings as well as assisting with financial restructuring in the real estate sector.

Ranked Lawyers at

Provided by Chambers
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Banking & Finance

Elitsa Ivanova
Elitsa Ivanova
Band 2
Gentscho Pavlov
Gentscho Pavlov
Band 3


Provided by CMS

Dimitar Zwiatkow

Ivan Gergov

Katerina Hristova

Konstantin Stoyanov


Provided by CMS

Black Sea Trade and Development Bank


Eurobank Bulgaria




OTP Bank

SumUp Payments Limited

The Association of Banks in Bulgaria

The Bulgarian National Bank

UniCredit Bank Austria, UniCredit Bulbank, Erste Bank, MKB


Provided by CMS


Consumer products


Fast consumer lending

Financial institutions

Hotels & Leisure

Real Estate and Construction