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This content is provided by Georgiev, Todorov & Co.

Managing Partner: Ivan Todorov
Number of partners: 8
Number of other lawyers: 52
Languages: Armenian, Bulgarian, English, French, German, Russian

Firm Overview:
Established in 1991, Georgiev, Todorov & Co. Law Offices is one of the first Bulgarian law firms. It has a particular emphasis on the banking and finance, M&A and concessions, energy and natural resources, real estate and construction, and telecommunications sectors. The firm has built a corporate culture, focused on a decision-oriented approach and aimed at understanding the business needs of both domestic and international clients in order to fully protect their interests, help them realise their full potential and achieve their business goals. The outstanding combination of in-depth knowledge of substantive law and the unparalleled expertise in judicial and arbitral representation enables the law firm to provide tailored legal services and to avoid any potential risks for its clients. Georgiev, Todorov & Co. has participated in many landmark transactions for key players. The law firm is recognised for its knowledgeable professionals and outstanding legal assistance in multiple sectors by the most reputable international directories. Moreover, it is a member of global legal organisations and guarantees for its services through the implementation of internationally recognised certified systems of quality management (ISO).

Main Areas of Practice:

Dispute Resolution:

Georgiev, Todorov & Co. is one of the leading Bulgarian law firms in dispute resolution for more than 25 years. It has been involved in a number of complex international projects in the fields of energy law, telecommunications, and banking, as well as in most of the largest privatisation transactions in Bulgaria. The law firm has extensive expertise in administrative and commercial litigation, as well as in financial, insurance, insolvency, and regulatory matters. The head of the department is the highly respected partner Arno Mamasian, who is an arbitrator in the Court of Arbitration with the Confederation of Employers and Industrialists in Bulgaria (CEIB) since 2017 and has represented key clients in court on some landmark cases. Highlights:
■Representing 47 renewable producers, owners of hydroelectric power stations, on a complex litigation procedure against the Energy and Water Regulatory Commission for damages in the form of lost income caused by the unlawful acts of the administrative body
■Advising several medical institutions on a number of cases initiated against the National Health Insurance Fund for payment of medical care provided above the limits set
■Representing BMF Port Burgas (the concessionaire of two terminals of Burgas port) before Sofia Administrative Court in a dispute with the national grid operator. The European Court of Justice upheld the argument put forward by the law firm on the scope of an EU Directive and the discretion allowed in relation to it in national legislation

Energy law is amongst the law firm’s specialisms and the department provides legal consultancy and court representation to both local and international electricity, renewable and cogeneration producers, gas and oil refineries, as well as natural resources companies. The in-depth knowledge of the regulatory framework and excellent dispute resolution practice make Georgiev, Todorov & Co. a reliable partner, highly valued by its clients. Its team has advised on infrastructure and development projects with a strategical significance for the sector and is consistently recognised for its work. Over the years, Georgiev, Todorov & Co. assisted Mitsui, Toshiba and ENEL regarding the rehabilitation of Thermal Power Plants Maritsa Iztok 2 and 3, and ENEL on the privatisation of Thermal Power Plant Bobov Dol. The law firm has been appointed as the local legal advisor of Atomstroy Export in the major arbitration case ‘Belene’ nuclear power plant against the state-owned Bulgarian National Electricity Company. Recently, Georgiev, Todorov & Co successfully advised the Bulgarian Stock Exchange regarding the deal for acquisition of all shares in the capital of Bulgarian Independent Energy Exchange from the Bulgarian Energy Holding.

Real Estate:
The real estate department has been involved in a lot of major real estate projects on the Bulgarian market. Key companies such as AG Capital, National Association of Property Developers, and BMF Port Burgas rely on the firm’s highly professional legal advice. The team provides full scope of services including contract drafting (sale and purchase agreements, construction agreements, contracts for establishing real rights), due diligence (complex analysis of real rights, ownership, territorial status of properties, territorial planning), representation in administrative and judicial procedures before the institutions on a daily basis for a group of construction companies and real estate entrepreneurs.

Georgiev, Todorov & Co. covers all aspects of the telecommunication industry as well as broadcasting, media and technology. The firm’s experts provide legal advice on acquisition and project finance, capital markets, mergers and acquisitions in the sector, and have participated in most of the major telecommunication deals in Bulgaria. Its clients are companies with significant importance in the field such as operators, service and technology providers. Georgiev, Todorov & Co. is a long-term legal adviser of the biggest player on the Bulgarian telecommunications market – the Bulgarian Telecommunication Company. The head of the TMT team is the highly experienced Alexander Pachamanov, who is a senior partner in the law firm, and has strong litigation skills, as well as an in-depth knowledge and an excellent reputation in the field. Highlights:
■Representing Bulgarian Telecommunication Company on multiple allegations of unfair competition
■Consulting Viacom International Hungary in relation to compliance with the legal regime regarding foreign ownership of television assets and for the time shift broadcasting in Bulgaria
■Advising T-Systems Hungary on corporate, commercial and competition law issues concerning their trade operations on the Bulgarian telecommunication market

The tax department has a strong expertise in the field. The team offers comprehensive planning and consulting service to clients in various industries such as manufacturing, energy, mining, retail, software and telecommunications. It provides proficient advice in corporate finance, banking and finance, as well as real estate. The law firm is well known for protecting the clients’ interests before the Bulgarian tax authorities and its high success rate in tax litigation. Highlights:
■Successfully led two cases against the tax authorities in Bulgaria on behalf of New Image, in respect of levying VAT on the activity of producing films in Bulgaria
■Successfully represented the heating plants of several regional cities – Burgas, Pleven and Pernik before the Supreme Administrative Court in relation to refunds for excise duties
■Ongoing legal support on various tax issues to the Bulgarian Telecommunication Company

Banking & Finance:
Georgiev, Todorov & Co provides banking advice in relation to transactional and strategic advisory work. The team advises a wide range of borrowers, lenders, issuers, underwriters and other clients in relation to debt finance and capital markets activities. The lawyers’ personal approach enables them to add value to the clients through their in-depth local market knowledge, multidisciplinary expertise and seamless capacity to manage international teams on cross-border projects efficiently and effectively.

EU & Competition:
With its extensive knowledge and experience in the sector, the team advises clients from various industries and responds to their sophisticated and diverse needs. Georgiev, Todorov & Co ‘s expertise covers the whole spectrum of EU and Competition law issues: antitrust, state aid, public services, services of general economic interest, and merger control. As the landscape in the field is constantly changing, driven not only by a complex legal framework, but also by political and economic considerations, the law firm has been involved in major mergers and acquisitions, as well as privatisations following significant political changes in Bulgaria.

Corporate & Commercial:
The law firm combines strategic thinking and technical excellence to ensure that client’s business is soundly and securely based. Georgiev, Todorov & Co. provides a unique combination of experience and resources, and a partnering approach that allows it to focus specifically on what clients need. Besides providing legal advice, the law firm often fulfills the role of a business consultant as well, working as part of an in-house team to provide a first rate service. The team regularly handles high-value and cross-border matters for clients such as Hill Clinic, the Bulgarian Stock Exchange, and Piraeus Bank, particularly in the banking and finance, telecommunications and energy sectors.

Over the years Georgiev, Todorov & Co. has earned the trust of many clients of significant importance on the Bulgarian market and worldwide. Some of them include European Parliament and European Commission, National Association of Property Developers, Roche Bulgaria, Montupet, Bulgarian Telecommunication Company, Bulgarian National Bank, Borica, Aurubis Bulgaria, Asarel Medet, Brikel, Acibadem City Clinic, Sofia Municipality, Ciela Norma, Dundee Precious Metals, Kornikom, Hill Clinic, Rompetrol, Viacom International Hungary, Recordati Bulgaria, Bulgarian Maritime Fleet, the Heating Plants in the major Bulgarian cities, Urban Mobility Center, International Asset Bank, Ministry of Regional Development and Public Works, GPS Bulgaria, Bulgarian Stock ExchangeSofia, Central Depositary, Bulgarian-American Credit Bank, Microsoft Corporation, and Experian Bulgaria.