Office

69 Bulgaria Blvd.
Infinity Tower, 14th floor
1404 Sofia
Bulgaria

+359 2 9048 300

Map and directions

Sofia | Bulgaria

Bulgaria introduces a range of derogations from the EU General Data Protection Regulation

March 2019 – Bulgaria has introduced a set of specific requirements relating to the processing of personal data in addition to the requirements under the EU General Data Protection Regulation (the “GDPR”). Such specific requirements (commonly known...

Two proposed amendments to Bulgaria’s Bank Insolvency Act have been introduced to harmonise local law with EU rules and to further refine the legislation

March 2019 – On 22 February 2019 and 26 February 2019 two bills were introduced in the Bulgarian parliament to amend the existing Bank Insolvency Act (“Bills”).
The purpose of the first of the Bills is to introduce the provisions of Directive...

Kinstellar advises Lion’s Head Investments on 3 office acquisitions in Bulgaria and Romania with a total transaction value exceeding EUR 310 million

February 2019 –  Kinstellar is delighted to have advised its client, Lion’s Head Investments, on the acquisition of three major office buildings: two in Sofia (Polygraphia Office Centre and Megapark) and one in Bucharest (Oregon Park).  All three...

Bulgaria’s Supreme Court of Cassation issues interpretative judgement strengthening the equal treatment of creditors and expediting insolvency proceedings

February 2019 – On 3 December 2018, Bulgaria’s Supreme Court of Cassation (“SCC”) issued Interpretative Judgment No 1 (the “Judgement”) on interpretative proceedings No 1/2017 of the General Assembly of the Panel of Commerce. The Judgement...

Mandatory cyber security standards apply to operators of critical infrastructure, digital and public service providers in Bulgaria

December 2018 – Bulgaria-based operators of critical infrastructure, digital and public service providers must deploy state-of-the-art technology and processes in order to fend off cyber incidents and be able to immediately report unauthorised access...

Bulgaria-based corporates and NGOs must disclose their ultimate beneficial owners by June 2019

December 2018 – Significant regulatory developments marked the year 2018 in Bulgaria. A new Act on the Measures against Money Laundering (the “AML Act” or the “Act”) was also adopted with view to transposing Directive (EU) 2015/849 on the prevention...

When freedom of contract slips into an abuse of a stronger bargaining position. The Bulgarian Competition Authority fines A1, the Bulgarian subsidiary of Telekom Austria.

December 2018 – Last week, the Bulgarian competition authority fined A1, the Bulgarian subsidiary of Telekom Austria, a total of BGN 804,340 (approximately EUR 411,252) for abusing its bargaining power by imposing high sales targets on a local distribution...

New European Union regulation promotes free flow of non-personal data and more extensive data aggregation and storage in the cloud

November 2018 – A set of new EU-wide rules facilitating the cross-border free flow of non-personal data within the Union is expected to become effective at the end of 2018 or early 2019.
These rules are intended to remove within the next two...

Kinstellar advises on the sale of global IT company Comparex AG to SoftwareONE, a global technology provider

October 2018 – Kinstellar, together with Linklaters and bpv Hügel, has successfully advised on the sale of Comparex AG, a global IT company, to SoftwareONE, a leading global platform, solutions and services company. The terms of the deal have not been...

Kinstellar hosts exclusive, first-of-its-kind event in Bulgaria for heads of legal departments and senior in-house lawyers

June 2018 – On 12 June 2018, Kinstellar’s Sofia office held the conference “The Growing Role of Company Lawyers in a Multi-Challenging Business Environment”— an exclusive, first-of-its-kind event in Bulgaria dedicated to general counsels, heads...