Sought out by Bulgarian and international banks, Kambourov & Partners regularly advises on complex financing and restructuring matters. It also represents a number of financial institutions, and is geared to support on structured finance, financial collateral and public and private bond placements. Leading the team, Yavor Kambourov has experience extending to restructuring, insolvency, and financial litigation and arbitration. The group also benefits from Ivo Alexandrov, who has in-depth understanding of regulatory issues and specialises in syndicated facility arrangements and the enforcement of security agent structures.Key clients
UniCredit Italia
Bank of China Limited, New York Branch
Contrail Aviation Support, LLC
Ecosafe
Holiday Village Aqua Nevis
FTAI Aircraft Leasing Ireland (2025) DAC
Metlen
Naksia
Radina House EOOD
Tessa Energy
UAB “BAA Training”, Lithuania
United GroupWork highlights
Advising UniCredit S.p.A. on the €65m restructuring of syndicated credit facilities supporting the development of a manufacturing site in Bulgaria.
Advising Tessa Energy EOOD on the Bulgarian legal aspects of a €86.5m financing arrangement for a 72MW wind farm project.
Advising Bank of China Limited, New York Branch, on the release and deregistration of Bulgarian-law aircraft pledges securing three facility agreements.
Commercial, corporate and M&A
The corporate practice at Kambourov & Partners is particularly impressive in cross-border M&A deals, acting for clients across the technology, manufacturing and financial services sectors. The team is led by two partners: Vladimir Rangeloff is involved in corporate finance, private equity investments, cross-border transactions and business separations, and Veronika Hadjieva has notable proficiency in foreign investments and corporate structuring. Angel Rizov is an authority in complex M&A deals, and Christian Dimitrov supports on restructurings and regulatory matters. Todor Vlaykov is another key member of the team.Testimonials
Collated independently by Legal 500 research team.'The most distinctive feature is that each team not only possesses a high level of legal knowledge and experience but also embraces a proactive, results-oriented, and collaborative approach. By anticipating our legal needs in advance, the firm minimises risks, accelerates processes, and provides clear solution alternatives.''Working with Angel Rizov has been a truly distinctive experience. What sets him apart is not only his deep legal expertise and extensive experience, but also his proactive, results-oriented, and collaborative approach. He consistently anticipates our legal needs in advance, helping us minimise risks, streamline processes, and clearly understand all available solutions.''Kambourov & Partners stands out not only for the depth of their technical expertise in corporate, commercial, and M&A work, but also for the way they tailor their advice to our long-term strategic goals. Their consistency, reliability and ability to handle complex issues seamlessly are unmatched in the market. The team combines outstanding legal knowledge with an unusually practical and commercial mindset. They understand the realities of our industry and deliver guidance that is clear, actionable and always geared towards achieving the best commercial outcome.''Market leading practice, very pro-active and commercially minded. Veronika Hadjieva is a star.''Vladimir Rangeloff's knowledge and experience are exceptional on the field of commercial, corporate and M&A legislation and projects. He also obtains a broad expertise in the regulatory legislation applicable to the credit institutions, investments and banks as well in the financing law and commercial legislation.'Key clients
RM Equity Partners
2Performant Network S.A.
Leading Turkish Industrial and Investment Group
Zuora
Globant
Diahem
Eurodivisas
Broadcom/VMWare
Lidl
Arlington Capital Partners
Hemse One
Mlin-97Work highlights
Acted as Bulgarian counsel to RM Equity Partners in their acquisition of Carista, a Bulgaria-based developer of diagnostics and customisation software for connected cars.
Advising a Turkish industrial and investment group on its bid to acquire Lukoil Neftohim Burgas, a Bulgarian refinery owned by Russian energy conglomerate Lukoil.
Advised Globant on the Bulgarian legal aspects of its acquisition of Blankfactor.LawyersLeading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Veronika HadjievaLeading associates
Leading associates with regular involvement in their team's key work, and recognition from peers or clients as being ones to watch.
Todor VlaykovPractice head
Vladimir Rangeloff; Veronika HadjievaOther key lawyers
Angel Rizov; Christian Dimitrov; Todor Vlaykov
Dispute Resolution
The dispute resolution team at Kambourov & Partners exhibits proficiency across the full spectrum of business law disputes, including cross-border commercial litigation and arbitration, shareholder and governance conflicts, and regulatory and administrative disputes. Representing multinational corporations, financial institutions and sovereign entities, the group is active in the energy, telecommunications and construction sectors. Emil Emanuilov spearheads the team, with experience representing clients before Bulgarian courts and in domestic and international arbitration proceedings. Emanuilov is supported by Ivaylo Nikolov, who has in-depth knowledge of insurance and public procurement disputes.'Kambourov & Partners’ dispute resolution practice is, without doubt, the very best in Bulgaria. The team combines world-class litigation and arbitration expertise with a practical, client-first approach, making them a trusted partner in even the most complex disputes. They are distinguished by their meticulous preparation, outstanding advocacy skills, and ability to navigate highly technical evidence with ease. What impressed us most was their consistency: whether in handling complex expert examinations, preparing detailed submissions, or advising on strategy, the team delivered excellence at every stage.
‘Emil Emanuilov is outstanding. While other lawyers tend to maintain a certain distance from the client (especially after several years of experience), Emil is still involved and takes over the case as his own. He really is "part of the team"!
'Compared to other firms, Kambourov & Partners is simply on another level. Their strategic vision, precision in execution, and exceptional teamwork make them not just effective lawyers, but true allies in dispute resolution. It is rare to find a practice that blends such depth of expertise with absolute commitment to client success.'
‘Emil Emanuilov has exceptional expertise in all and any dispute resolution and litigation matters. He always demonstrates problem solving attitudes in client's interests.'
'Emil Emanuilov is an outstanding dispute resolution specialist. His leadership, foresight, and ability to turn complexity into clarity are extraordinary. He combines sharp legal analysis with calm, confident advocacy that instils trust and reassures clients throughout the process. He is a true star in court and out of it, and the best ally you could have on your side in a complex, sophisticated dispute.'
'Yavor Kambourov brings immense authority and experience. His strategic judgment and ability to frame cases in a way that resonates with tribunals are exceptional. He is a true leader in the market whose involvement elevates every matter.'Key clients
First Investment Bank
Vivacom
Bonoil
United Towers Bulgaria
Euroins Romania
ČEZ
Investbank Bulgaria
ESTERA 2018
Bulgarian Football UnionWork highlights
Representing TAWAL and its Bulgarian subsidiary, United Towers Bulgaria, in administrative proceedings challenging the Bulgarian Commission on Protection of Competition’s approval of TAWAL’s 2023 acquisition of 3090 telecoms towers.
Representing Euroins Romania, part of Euroins Insurance Group, in international arbitration proceedings and related litigation.
Representing First Investment Bank in over 30 ongoing disputes.
Energy
Kambourov & Partners is home to an experienced energy and natural resources team that frequently assists with the development of renewable energy projects, electricity and gas infrastructure, and investments. The group represents a wide array of clients including energy project developers, investor-owned utilities and lenders. At the helm of the practice, Stefan Tzakov is particularly impressive in energy-related disputes, with experience before Bulgarian courts, the Energy and Water Regulatory Commission and the Ministry of Economy and Energy. Another key member of the team is Irena Petkova, whose practice has a notable emphasis on energy projects and regulatory matters.'They stand out for their exceptional collaboration, understanding of the energy industry, attention to detail, and promptness in answering the client's questions.'
'Stefan Tzakov is a leading practitioner in the firm’s energy and natural resources practice, recognised for his deep understanding of energy regulation, project development, and infrastructure transactions. He advises both domestic and international clients on the full spectrum of energy-related matters, including renewable and conventional power projects, licensing and permitting, energy trading, and regulatory compliance.'
'The energy and natural resources practice is recognised for its comprehensive industry knowledge and ability to deliver practical, commercially focused advice across the entire energy value chain. The team advises major domestic and international clients on regulatory compliance, project development, M&A, financing, and energy trading matters.'
'The team is professional and prompt, consistently providing support exactly when it is needed. They resolve every issue in a timely manner, demonstrating both reliability and efficiency. We truly value their ability to combine professionalism with responsiveness, ensuring that requests are addressed quickly and effectively.'
'The individuals we work with stand out through their professionalism, promptness, and commitment. We have particularly valued their responsiveness, reliability, and the confidence they inspire by resolving matters efficiently. Their dedication ensures that our requests are always handled quickly and effectively, which makes them a trusted partner to us.'
'I enjoy working with the lawyers at Kambourov; they are very knowledgeable about the peculiarities of Bulgarian construction law and the various permitting processes, which would be absolutely impossible to navigate without them.'Key clients
Kozloduy Nuclear Power Plant (NPP) – New Build EAD
Enerjisa Commodities B.V.
Balkan Logic
MVM Partner Zrt.
Trafigura Nat Gas Limited
Tessa Energy
Gastrade SA
NEPI Rockcastle/Sofia Commercial Centre EOOD
United Group
А29 Energia Bulgaria EOOD
Uniper Global Commodities SE
SD Gas & Power S.R.L.Work highlights
Advising Kozloduy NPP – New Build EAD on the development of Bulgaria’s second nuclear power plant, a €14bn project involving two 1000 MW reactors using AP1000® technology, to be constructed by Westinghouse and Hyundai.
Assisted Metlen with its acquisition of a 75% stake in Most Energy JSC’s energy trading business, a key step in Metlen’s regional expansion.
Advising Balkan Logic, a Bulgarian energy company, on the acquisition of a 70 MW wind energy project in Strazhitsa.
EU & Competition
Kambourov & Partners stands out for its work in competition litigation, in cases such as abuse of dominance and cartels. The group also has a strong advisory practice, including merger notifications and clearance procedures for clients across the energy, TMT, media and private equity industries. Leading the team, Plamen Yotov covers a wide array of matters related to dominance, cartels, state aid and merger control. Stefan Tzakov is another key member of the department, whose broad knowledge covers dawn raids, sector inquiries and abuse of a stronger bargaining position.'We can mention Plamen Yotov because his exceptional expertise in EU legislation and competition matters. He always demonstrates problem-solving attitudes and he is extremely devoted to the results in client's interests due to his excellent knowledge of the industry.'
'The team provides prompt and high-quality services where the motivation of the lawyers and their level of expertise are constantly expressed. We assess the level of service as excellent and we emphasise that the answers to the legal questions were provided by Kambourov & Partners law office in due time. Responses were accurate and always provided in close cooperation with in-house lawyers of the company.'
'Stefan Tsakov and Plamen Yotov offered exceptional guidance on competition and antitrust matters. Their deep expertise, strategic advice and ability to navigate complex regulatory issues were invaluable.'
'Their team was thorough, responsive and offered clear, practical advice that helped us navigate complex workplace matters and we appreciate the professional support which insures high success level including in court proceeding.'
'Very personalised approach. Always in contact with at least one partner and our account lawyer. Before committing to any report, they conduct in-depth research on the matter and present their arguments extensively.''Stefan Tzakov is a very good leader with customer-friendly attitude.'Key clients
MS Galleon
Dentatechnica
Global Exchange Group/Eurodivisas
Citygas Bulgaria
Elica Yard
Kamenitza AD/Starbev Netherlands B.V./Molson Coors
Kaufland Bulgaria
Prestige-96
Maxima Bulgaria
Lidl Bulgaria
United Group
VivacomWork highlights
Represented MS Galleon in merger control proceedings before the Bulgarian competition authority concerning its acquisition of sole control over Corab S.A., a Polish photovoltaic systems manufacturer and distributor.
Successfully represented United Group in court proceedings on competitors’ appeals against the merger clearance for United Group’s acquisition of Bulsatcom.
Represents Kaufland in the first-ever case on alleged unfair trading practices in the agricultural and food supply chain.
