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Banking & Finance

Bulgaria

As a participant in the global banking and finance industry, you are faced with increasing financial, regulatory and political pressures. New rules on capital requirements, risk profile and investor protection pose challenges for your organisation. We have unmatched geographical coverage and more internationally qualified banking and finance partners on the ground in CEE than any other law firm. We are your first port of call whether you are planning a cross-border transaction with a multi-jurisdictional security package or loan portfolio or implementing a first-of-a-kind financing structure in your domestic market.

Whether you are a financial institution, equity house, asset manager, mutual fund, accountant, privately owned company, corporation or public entity, your business is only as good as the products and services you sell. That’s why we organise our teams along the business lines of your sector, giving us deep insight into the commercial and legal issues you face. From general corporate lending to acquisition and leveraged finance, derivatives and securitisations to real estate finance and corporate recovery, we can help you achieve the best outcome, both locally and across jurisdictions.

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    Capital Markets

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    Restructuring, Business Transformation & Insolvency

    CMS can help you with restructuring, insolvency and transforming your business. Whether caused by rapid technological developments, consumer preferences, increased success of competitors, tightening of regulation or an overall economic downturn. When businesses experience decreasing revenue and profits it is better to act sooner rather than later. CMS has lawyers based in Bulgaria to help businesses to reduce risk and make the most of business opportunities both within Bulgaria and across the world.

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    29 May 20
    Loan Agree­ments in CEE/CIS: Force Ma­jeure and Pay­ment...
    14 May 20
    European Com­mis­sion post­pones the entry in­to force of CSDR set­tle­ment...
    The Com­mis­sion Del­eg­ated Reg­u­la­tion on set­tle­ment dis­cip­line (the “Set­tle­ment Dis­cip­line RTS”[1]) will now come in­to force on 1 Feb­ru­ary 2021 fol­low­ing in­dustry re­quests for more time for im­ple­ment­a­tion. ...
    CMS Ex­pert Guide to Coronavir­us Re­lated Loan Morator­i­ums
    30 Apr 20
    The in­ter­play between PSD2 and GDPR
    The un­cer­tain in­ter­play between the Pay­ment Ser­vices Dir­ect­ive 2 (PSD2) and the Gen­er­al Data Pro­tec­tion Reg­u­la­tion (GDPR) has made pay­ment ser­vice pro­viders (PSPs) ques­tion which pro­vi­sions they should...
    CMS Ex­pert Guide to Sta­bil­isa­tion and Re­struc­tur­ing...
    23 Apr 20
    COV­ID-19 Fin­an­cial sup­port for the avi­ation in­dustry and car­bon emis­sion...
    Giv­en the cli­mate emer­gency de­clared by many ad­min­is­tra­tions in many parts of the world, now at a time when the avi­ation in­dustry is in crisis due to the travel re­stric­tions caused by the pan­dem­ic, ques­tions...
    14 November 2019
    CMS Guide to Pass­port­ing (AIF)
    Rules on Mar­ket­ing Al­tern­at­ive In­vest­ment Funds in...
    14 Apr 20
    The Bul­gari­an Na­tion­al Bank ap­proves sec­tor-wide vol­un­tary morator­i­um
    A sec­tor-wide private morator­i­um on bank loan pay­ments dur­ing the peri­od of pub­lic emer­gency in Bul­garia stem­ming from the COV­ID-19 out­break was ap­proved on the 10 April by the Bul­gari­an Na­tion­al Bank...
    14 November 2019
    CMS Guide to Pass­port­ing (UCITS)
    Rules on Mar­ket­ing Un­der­tak­ings for Col­lect­ive In­vest­ment...
    08 Apr 20
    Right of with­draw­al in con­sumer cred­it agree­ments: a mere cross-ref­er­ence...
    In 2012, a con­sumer entered in­to a cred­it agree­ment with the bank Kre­is­s­par­kasse Saar­louis. The cred­it agree­ment gran­ted the bor­row­er a right of with­draw­al of 14 days and fur­ther­more stated that this...
    December 2018
    Fund­ing for films and au­dio-visu­al works in Cent­ral...
    30 Mar 20
    ESMA and FCA cla­ri­fy su­per­vis­ory ap­proach on SFTR back­load­ing re­quire­ments...
    This in­form­a­tion is cor­rect as of 11.30am on 30 March 2020 and will not be main­tained. The European Se­cur­it­ies Mar­kets Au­thor­ity (“ESMA”) has cla­ri­fied its po­s­i­tion on the re­quire­ments for ‘back­load­ing’...