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Penkov, Markov & Partners

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Chairman and Senior Partner: Vladimir Penkov
Managing Partner: Nikolay Cvetanov
Number of partners: 6
Number of lawyers: 30
Languages: Bulgarian, English, German, French, Russian

Firm Overview:
Established in 1990 Penkov, Markov & Partners is one of the first law firms in Bulgaria having nowadays the biggest and most significant client portfolios and being respected both domestically and internationally. The firm currently has approximately 40 partners and associated members, several external legal consultants, 12 trainees, 12 assistants and staff members. The firm publishes its own newspaper PMP Legal News, circulation 2200 (published in Bulgarian, English and German languages) which is also available on its website. PM&P is a member of Lex Mundi and FLI Net and is the first law firm in Bulgaria certified under ISO 9001:2015 standards by Bureau Veritas Certification and four times awarded Superbrand of the year.

Main Areas of Practice:
Banking & Finance
Anti-Money Laundering, terrorist financing, fraud prevention
Commercial & Company
Bankruptcy & Restructuring
Energy & Natural resources
Real Estate & Project Development
Competition and Antitrust & Consumer Protection
Public Procurement
Labour & Social Security
State Regulatory
Trademarks & IP
Litigation & Arbitration
Compliance and Personal Data Protection

Banking & Finance:
3 Partners, 7 Fee earners
■Representation of KBC Group and its local affiliate United Bulgarian Bank in various matters.
Partners: Ivan Markov, Nikolay Cvetanov
■Representation of micro-credit companies (Finances Center and Tamga Invest - Bulgarian subsidiary) in procedures before the Bulgarian National Bank for registration as financial institutions.
Partner: Nikolay Cvetanov
■Acting as central contact point of MoneyGram International SPRL for Bulgaria, regularly advising the payment institution on various matters in the banking and finance sphere (PSD2 related issues, currency exchange, payment limitations, remote provision of services rules, etc.), as well as AML/CFT regulations.
Partner: Nikolay Cvetanov
Key clients: KBC Group, Finances Center, Tamga Invest, MoneyGram International SPRL
Contact: Mr. Vladimir Penkov / Mr. Ivan Markov / Mr. Nikolay Cvetanov
Tel: + 3592 971 39 35
Email: [email protected] / [email protected] / [email protected]

Anti-money laundering, terrorist financing, fraud prevention:
2 Partners, 4 Fee earners
■Structuring of AML/CFT policies, procedures and internal rules of more than 50 companies (some of them leading Bulgarian financial institutions, wholesalers, pharma companies, contracting entities in the public procurement field, leasing undertakings, etc.) obliged under the new Bulgarian AML Act.
Partners: Nikolay Cvetanov, Roman Stoyanov
Key clients: Zagorka (part of Heineken Group), Doverie (the largest Bulgarian pension fund part of Vienna Insurance Group), 4finance (part of Finstar Group), MoneyGram International SPRL, Karelia Bulgaria (part of Karelia Group), UBER, Bulgartransgas (the largest combined gas operator in Bulgaria), IKEA, Stihl (part of Stihl Group), Berlin Chemie, MVB Truck and Bus Bulgaria (the exclusive MAN distributor for Bulgaria).
Contact: Mr. Nikolay Cvetanov
Tel: + 3592 971 39 35
Email: [email protected]

Commercial, Company & M&A:
3 Partners, 7 Fee earners
■Representation of Colibra (the winner of the 2019 Startup World Cup – Bulgaria competition) in the acquisition of 25 % of the company from one of the largest Bulgarian business/investment groups, structuring of the transaction, attracting financing.
Partner: Nikolay Cvetanov
■Partial restructuring of Teletek Group – acquisition of 100 % of the capital of Siltek Engineering by Polistar Group, including arrangement of related external relations – public procurement obligations, bank financing, etc.
Partner: Nikolay Cvetanov
Contact: Mr. Nikolay Cvetanov
Tel: + 3592 971 39 35
Email: [email protected]

Competition, Antitrust & Consumer Protection:
1 partner, 5 Fee earners
■Provision of legal assistance and support to ČEZ a.s. and EMCO Ltd., one of the leading players in the special (military) production market within the overall merger control procedures before the Competition Protection Commission related to a transaction for sale of the local Bulgarian assets of ČEZ a.s., respectively a transaction for acquisition of sole control over another leading participant on the same market , including in-depth investigation part thereof and further representation before the competent Bulgarian administrative courts for challenging the Commission’s bans on concentration.
Partner: Ivan Markov
Contact: Vladimir Penkov
Tel: + 3592 971 39 35
Email: [email protected]

Energy & RES:
4 Partners, 5 Fee earners
■Representation of CEZ a.s. in the transaction of electricity distribution company and electricity grid operating company, the biggest electricity trading companies operating in both free and regulated markets, few electricity production plants, including from renewable energy and electricity software servicing company.
Partner: Ivan Markov
■Representation of Mondi Stambolijski EAD, Zlatna Panega Cement EAD, etc. in obtaining state funding in connection with their financial burden as large investors and producers within the territory of the country.
Partners: Ivan Markov, Roman Stoyanov Key clients: ČEZ a.s., Mondi Stambolijski EAD, Zlatna Panega Cement EAD, Minstroy Group, EMR Kaolinovo EOOD
Contact: Nikolay Cvetanov
Tel: + 3592 971 39 35
Email: [email protected]

Real Estate:
2 Partners, 6 Fee earners
■Representation of Arteks Engineering AD and Artkes Zlaten Vek OOD in the development of a number of luxury residential projects in Sofia with a total market value of the projects of above EUR 250,000,000.
Partners: Milena Gaidarska, Atanas Valov
■ Representation of Kambana Bourgas AD in sale of a regulated plot needed for the project on extension of Galleria Mall, Burgas.
Partner: Milena Gaidarska
■Representation of Siko Service EOOD on the negotiations for a long-term lease of logistics facility with EdgeConnex.
Partner: Milena Gaidarska
Key clients: Arteks Engineering AD, Artstroy Group, Siko Service EOOD, Bul Dom OOD, Nedvizjimi Imoti SIPJV, B & B Hotels
Contact: Milena Gaidarska
Tel: +3592 971 39 35
Email: [email protected]

Litigation & Arbitration:
4 Partners, 8 fee earners in the practice area
■ Representation of Arteks Engineering AD and Artkes Zlaten Vek OOD in administrative disputes related to the validity of the construction of the skyscraper “Zlaten Vek” with overall value of the cases over EUR 100,000,000.
Partners: Atanas Valov, Milena Gaidarska
■Representation of Emco EOOD in administrative proceedings before the Supreme Administrative Court for prohibition of concentration of the client with Dunarit AD by the Competition Authority with a value of the case of above EUR 45,000,000. Partners: Ivan Markov, Vladimir Penkov
■Representation of DNV GL SE in a tort dispute with the descendants of the deceased from a boat accident in the Ohrid Lake in Northern Macedonia, with a value of the claim against the client of more than EUR 5,000,000.
Partner: Atanas Valov
Key clients: Arteks Engineering AD, Emco EOOD, DNV GL SE, Zagorka AD, BA Glass Bulgaria AD, Minstroy Group
Contact: Atanas Valov
Tel: +359 2 971 39 35
Email: [email protected]