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Chambers Europe

Chambers Global

Legal 500

IFLR1000

Banking, Finance & Capital Markets

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Kambourov & Partners advises domestic and international banks, as well as other financial institutions, on cross-border financing and restructuring matters, in addition to financial regulatory issues. Notable client gains include Bank of China Limited (New York Branch) and United Group. The team is led by founding partner Yavor Kambourov and includes Vladimir Rangeloff, who assists international clients in corporate finance mandates. Ivo Alexandrov, who heads the firm’s restructuring and enforcement of securities practice, is a key member of the team.

Leading individuals: Vladimir Rangeloff

Practice head(s): Yavor Kambourov

Other key lawyers: Vladimir Rangeloff; Ivo Alexandrov

Testimonials

‘Diverse, broad expertise, trustworthy, competent, efficient and business oriented.’

‘Smart, deep knowledge and expertise, good standing and relations in the sector.’

Work highlights:

Assisted the Bank of China Limited (New York Branch) on the finance aspects of the leasing of three Airbus A320-214 aircraft.

Assisted United Group on the finance aspects of the acquisition of Nova Broadcasting Group.

Assisted Yapi Kredi Bank N.V. with regard to the granting of loans in Bulgaria.

Commercial, Corporate and M&A

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Kambourov & Partners fields a team of ‘true deal magicians’ handling complex domestic and cross-border M&A transactions, as well as corporate restructurings and reorganisations. The practice advised Silverfleet Capital on its €45m investment in the merger of the Bulgarian software company Bulpros and ec4u. Vladimir Rangeloff, who has extensive experience in the telecoms, energy and banking and finance sectors, leads the practice alongside ‘first-rate transactional lawyer’ Veronika Hadjieva, who is a ‘force of nature’ and acts for clients in the IT sector on M&A deals.

Leading individuals: Veronika Hadjieva

Practice head(s): Vladimir Rangeloff; Veronika Hadjieva

Testimonials

‘Diverse, broad expertise, trustworthy, competent, efficient and business oriented.’

‘I have been working with the corporate and M&A team for almost a decade and I can only say they are a truly exceptional group of top experts. A team that will guide you through any corporate matter with expertise, determination and great skill. They handle complex transactions like no one else and operate like a perfectly structured and smooth mechanism. They are true deal magicians, always up for that extra effort that makes a substantial difference. Extraordinary negotiators and talented closers. The team has established collaborations with international partners, which means you can count on many trustworthy connections across the globe. They are also among the few in the domestic legal market that dominate technology and actively use it to make everyone’s life easier.’

‘Veronika Hadjieva is the absolute best corporate and transactional lawyer on the local market. She is such a pro at managing and closing deals. Her talent for the law, her leadership and negotiation skills, her proactivity and resolution, and her piercing business awareness are some of the qualities that really make Veronika stand out. Christian Dimitrov from the corporate team also deserves special praise. He is a highly recommendable lawyer with huge knowledge and business insight, very resourceful and capable. I am very impressed with all the individuals I have worked with, as much by their professional qualities as by their culture, ethics and personalities.’

‘Very collaborative, always responsive, open-minded, flexible.’

‘What is truly unique about the practice is the fusion between its proven competence and its exceptional corporate culture. The Corporate and M&A group is a legal powerhouse built on decades of experience, strong commercial focus and stellar client service. It has an unbeatable track record with some of the most large-scale deals on our market, most of which involving many cross-border aspects. They are seasoned negotiators and deal-makers. In addition they foster a work environment based on mutual consideration, support and genuine sportsmanship. The practice truly puts the client in the centre – they would go above and beyond to protect your interests and assure the best possible results. As far as innovations, the practice has always been ahead of the curve – flexible billing, automation of work processes, ditigitization of burdensome procedures that they take care of at no additional cost. Also even before the pandemic they had a flexible work model in place, which is something very beneficial for the team and respectively for the clients.’

‘The entire team is outstanding and the best legal partner you could find out there. I would specifically mention the founding partner Yavor Kambourov, whom I find to be a remarkable lawyer and exceptional person. His enthusiasm and dedication are incessant even after over three decades of practice. I very much admire Yavor for his outstanding competence, as well as for the devotion, empathy and humanity. He is an exquisite professional and leader, who consistently promotes the same impeccable values and culture among the entire team, which is one of the main reasons the firm always stands out among the rest. Specifically in Corporate and M&A, I would highly praise Christian Dimitrov, who is a terrific transactional lawyer and handled flawlessly a rather complex deal. Christian is very commercially oriented and insightful. I highly value his strategic thinking, his ability to simplify complex legal aspects, his proactive problem-solving approach and the willingness to go the extra mile to assure success. Christian has really impressed me with his rigour, persistence and resourcefulness. Having Christian lead our transaction has been another demonstration of the firm’s culture of brilliantly training and then giving enough autonomy to young non-partner talent. M&A partner Veronika Hadjieva also deserves a special mention – she is a genuine force of nature and first-rate transactional lawyer. Her competence, vision and determination are truly impressive.’

Work highlights:

Advised Silverfleet Capital on its investment in the merger of the Bulgarian software company Bulpros and the German CRM leader ec4u.

Advised United Group on the acquisition of Nova Broadcasting Group (NBG).

Advising and assisting Webjet in connection with its investment in the Bulgarian blockchain-based travel marketplace LockTrip.

Dispute Resolution

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Kambourov & Partners provides ongoing multidisciplinary representation to prestigious clients such as the Bulgarian Telecommunications Company, which the team has advised on various disputes, including administrative claims, insolvency proceedings and tax-related issues. Experienced litigator and arbitrator Emil Emanuilov leads the practice with the support of deputy head Ivaylo Nikolov. One client praises Hristina Kirilova ‘as an eminent expert, especially in disputes in the banking and finance sector’, a sector in which the team has recently been engaged in multiple cases.

Leading individuals: Emil Emanuilov

Rising stars: Ivaylo Nikolov

Practice head(s): Emil Emanuilov

Other key lawyers: Ivaylo Nikolov; Hristina Kirilova; Yavor Kambourov

Testimonials

‘The dispute resolution team at Kambourov is by far the best one out there. What makes them unique are the many years of unmatched experience dealing with defining and complex cases, the utmost thoroughness, precision and accuracy of handling matters, as well as the determination and commitment in defending the interests of their clients. Many law firms will tell you they have all these things but this one actually does and has proven it on numerous occasions. The team is exceptional in litigation as well as in arbitration, with huge capacity and proven excellence in cross-border matters. The people in the team are brilliant litigators, with talent, technical capacity and skill. In addition everyone I’ve met in the team has been great at communicating, explaining and accommodating any requests.’

‘Specific for each of the individuals we have been working with is the in-depth commercial awareness and thus always a competent analysis of the relevant legal framework and case law. The main lawyers from Kambourov & Partners we have been working the most are Ivaylo Nikolov and Emil Emanuilov. The above mentioned lawyers are responsive, correct and available at any time. Their attitude to work is analytical, professional and competent.’

‘The individuals are all fantastic litigators and great people to work with. I’ve been most in contact with Hristina Kirilova, whom I’ve known for several years. Hristina is an eminent expert especially in disputes in the banking and finance sector. She is smart and discerning, with great skill in court but also a knack for negotiations. A highlight in dispute resolution and the top of the top would be the founding partner Yavor Kambourov. He is without doubt a superb litigator with an impressive track record. Yavor is what you would call a genuine talent for the law. His intelligence and perceptiveness are one of a kind and his judgement is spot on. With a strong business sense coupled with genuine care and involvement in client affairs, Yavor is a superb lawyer.’

Work highlights:

Provides ongoing multidisciplinary litigation representation to the Bulgarian Telecommunications Company (Vivacom).

Representing Strabag in several contentious matters.

Provides ongoing advice to ČEZ with regard to investment arbitration claims against the Republic of Bulgaria before the ICSID.

Energy and Natural Resources

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Kambourov & Partners handles the full spectrum of mandates arising out of the energy sector and is noted for its particular expertise in energy-related disputes, such as providing ongoing assistance to ČEZ regarding investment arbitration claims against the State before the ICSID. Practice leader and litigator Stefan Tzakov has experience representing clients before the Bulgarian courts, the State Energy and Water Regulatory Commission, the Ministry of Economy and Energy and others. Irena Petkova is another key member of the firm’s long-established energy and natural resources team.

Hall of Fame: Stefan Tzakov

Next Generation Partners: Irena Petkova

Practice head(s): Stefan Tzakov

Other key lawyers: Irena Petkova

Testimonials

‘We have been working with Kambourov & Partners for the last almost two years. Our impression is excellent. The strength of the team is their professional and in-depth studies in each case.’

‘The team are diverse, broad expertise, trustworthy, competent, efficient and business oriented.’

Work highlights:

Acting for ČEZ with regard to investment arbitration claims against the Republic of Bulgaria before the International Centre for Settlement of Investment Disputes (ICSID).

Advising and assisting United Group on a wind power project with installed capacity of 70 МW.

Advised and assisted Bulgartransgaz on the acquisition of 20% of the capital of the Greek project company Gaztrade SA, developer of the LNG terminal near Alexandroupolis, Greece.

EU and Competition

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Kambourov & Partners is praised for its ‘seamless combination of expert advisory and litigation services, which cover every competition aspect a business may encounter’, such as merger control, vertical restraints, compliance, market dominance and investigations, to name a few. Senior associate Plamen Yotov, who is commended for the ‘depth and breadth of his competition law acumen’, leads the practice group and is supported by ‘first-rate competition litigator’ Stefan Tzakov, who specialises in competition cases. Notable client gains include United Group and Silverfleet Capital.

Leading individuals: Stefan Tzakov

Rising stars: Elena Apostolova Plamen Yotov

Practice head(s): Plamen Yotov

Other key lawyers: Stefan Tzakov; Elena Apostolova

Testimonials

‘From our perspective, Stefan Tzakov and Plamen Yotov stand out as very precise and pragmatic lawyers. Stefan Tzakov brings a wealth of diverse experience and impeccable work ethic. Plamen Yotov has impressed us with the depth and breadth of his competition law acumen and his ability to tackle non-standard issues.’

‘Speaking as a long-term client of the competition practice of the firm, I am pleased to share that their great reputation on the market has always been justified. It combines litigation and competition skills in a unique way. The practice also provides sharp advice on the whole range of competition matters and is just as brilliant when it comes to representing clients before the Bulgarian Competition Authority and national courts. The team has extensive legal knowledge and experience which blends perfectly with their understanding of the markets in which their clients are active. Two of the things which we value the most about this practice are the complementarity of the team and its hands-on approach all the way from associates to senior partners. We always feel confident when they are by our side, having established deep trust with them over the years.’

‘We can mention Plamen Yotov because his knowledge and experience are exceptional in the field of EU, competition, commercial legislation, antitrust and unfair competition issues.’

‘Strong professionals with great capability of solving business issues.’

‘We mainly work with Stefan Tzakov and Elena Apostolova who have greatly supported us during the years. When it comes to issues concerning our company, they have always had a proactive approach, considering our business interests and priorities. Stefan Tzakov is undoubtedly a market leader with profound knowledge and excellent understanding of the Bulgarian competition authority’s practices. One of his greatest assets is that he is also a first-rate competition litigator. He is direct, to the point, and always on time. He always adds a personal touch to his advice and is a true pleasure to work with. Elena Apostolova is highly organised, extremely responsive and always alert. She has broad knowledge and experience in competition law, a very keen eye for details, and strong determination to always get the best results, qualities which make her a key member of the team and an asset to the clients of the practice.’

‘What is unique about the practice is the seamless combination of expert advisory and litigation services, which cover every competition aspect a business may encounter. The team is spectacular on both operational and strategic level, truly client-oriented and always looking out for the client’s best interests from a legal and commercial perspective. Their expertise is tried and tested on local and international level and for the past several years they have been a valuable partner for us. Excellent capabilities and resources, as well as a wide network of international partners.’

‘Stefan Tzakov is hands down an exceptional lawyer. Deeply specialised, profoundly experienced, detail-oriented and completely in charge of every situation. He is equally fantastic for competition advisory and litigation work and is proficient in EU law. Plamen Yotov is another lawyer we work with in competition. He is efficient, results-driven, structured and organised. Plamen has excellent professional competence in all areas of competition law.’

‘The whole team, with expertise in competition law, has outstanding qualities and capabilities.’

Work highlights:

Successfully obtained merger control clearances for the acquisitions by United Group of Nova Broadcasting Group and Telegraph Newspaper.

Represented Silverfleet Capital in merger control proceedings regarding the acquisition of the Bulgarian software company Bulpros and the German CRM company ec4u.

Advising the fashion company BY FAR on the competition compliance of its business activity.

Intellectual Property

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Kambourov & Partners ‘provides premier advice in key pillars of intellectual property law, from registrations, oppositions, and renewals of industrial property to franchise agreements and licensing’. Noted for its capability in representing local and multinational companies in contentious trademark, patent and copyright cases, the team has a strong reputation acting for clients across the media and telecoms sectors, among others. ‘Rigorous’ partner Margarita Guigova, who has 15 years’ experience in this space, leads the practice group and is supported by senior associate Yana Todorova, who is ‘an asset to the team’.

Hall of Fame: Margarita Guigova

Rising stars: Yana Todorova

Practice head(s): Margarita Guigova

Other key lawyers: Yana Todorova

Testimonials

‘The team has exceptional legal, technical, and personal skills, complemented by great team depth.’

‘Margarita is undoubtedly and unsurprisingly at the top of her field. It goes without saying that she has in-depth legal knowledge and wide experience. What makes her truly unique to us is that she knows our universe and understands our company’s objectives. She is rigorous and creative at the same time, and she always hits the ground running.’

‘Yana Todorova is very knowledgeable, energetic, and highly responsive. She has great listening and relationship management skills. Extremely efficient and an asset to the team.’

‘They are exemplary. The IP practice provides premier advice in key pillars of intellectual property law from registrations, oppositions, and renewals of industrial property to franchise agreements and licensing. It is the best for brand protection.’

‘The team not only knows our company’s industry inside and out but also a lot of other closely related industries – a circumstance which perfectly complements their legal advice, adding a layer of priceless commercial awareness.’

‘The team is proactive, fast-moving, competent, and powerful. Most importantly, it channels reliability and trust – a key ingredient in any long-term business relationship. What distinguishes them most from other firms is that we simply trust them, and they have gained this trust by continuously delivering fantastic results.’

‘Margarita Guigova and Yana Todorova are great professionals, with deep business understanding and sense of urgency.’

‘Strong professionals with great capability of solving business issues.’

Work highlights:

Represents BTC in court proceedings related to collective management in the digital environment.

Provides ongoing advice and assistance to MPA on a broad range of issues.

Advised Chivas Holdings Limited in relation to a breach of intellectual property.

Projects and PPP

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Kambourov & Partners’ caseload features high-profile mandates, ‘ranging from airport and port concessions to pipelines and power plants, highways and other infrastructure projects’. In one highlight, the group advised the consortium HSS-Monolit Sofia on a public procurement procedure for the design and construction of a new section of the Third Line of the Sofia metro. Atanas Shopov, who heads the firm’s real estate and construction practice, jointly leads the team alongside energy specialist Stefan Tzakov, while practice deputy head Elena Apostolova is praised as an ‘excellent expert in public procurement’.

Leading individuals: Atanas Shopov

Rising stars: Elena Apostolova

Practice head(s): Stefan Tzakov; Atanas Shopov

Other key lawyers: Elena Apostolova

Testimonials

‘The team is very well experienced and competent. They are all rounders, with across-the-board expertise and the resources to cover every possible legal issue. Also exceptional litigators.’

‘They have excellent technical skills, as well as strategic vision and commercial orientation. They are available all throughout the project, keep you up to date and make sure things move forward as fast as possible.’

‘Top-quality advisors and brilliant litigators with deep expertise.’

‘We can mention Stefan Tzakov and Atanas Shopov because their knowledge and experience are exceptional in the field of PPP. They also have a broad expertise in the regulatory legislation applicable to the investments in the field of energy and construction.’

‘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 emphasize 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 Tzakov combines vast experience and knowledge, with analytical capabilities, pragmatism and business notion. Stefan is great for any kind of project, from the tendering stage if any, to dispute resolution, if needed, to execution and successful completion. He is great at navigating you through legal complexity and instrumental in achieving results. His specialties are energy, transport and infrastructure.’

‘Elena Apostolova – excellent expert in public procurement, a knowledgeable, competent and hard-working lawyer.’

Work highlights:

Represented the consortium HSS-Monolit Sofia with regard to a public procurement procedure for the design and construction of a new section of the Third Line of the Sofia metro.

Advised Alstom Transport S.A. on certain aspects of a public procurement tender of the Bulgarian State Railways (BDZ).

Advising United Group on a renewable energy project in Bulgaria.

Real Estate and Construction

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Noted for its capability in residential, industrial and infrastructure projects, Kambourov & Partners ‘provides prompt and high-quality' advice on the full cycle of development and construction matters, including transaction structuring, financing and litigation. The team continues to expand its portfolio with regard to commercial developments, such as construction of retail centres and office buildings. Practice leader Atanas Shopov has considerable experience in assisting investors, retailers, hotel chains, energy and infrastructure companies with large-scale projects.

Hall of Fame: Atanas Shopov

Practice head(s): Atanas Shopov

Testimonials

‘The team provides prompt and high-quality services.’

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.’

‘All team members with expertise in real estate and construction are highly qualified and with great capabilities.’

Work highlights:

Advised Monolit on the conclusion of a construction agreement for the newest factory of Balkanpharma.

Advised United Group on the potential acquisition of a wind power project.

Advised Alorica Bulgaria on real estate matters.

Transport (including shipping)

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Kambourov & Partners has demonstrable experience in large-scale projects, pertaining to metro lines, as evidence by its advice to consortium HSS-Monolit Sofia on a public procurement procedure for the design and construction of a new section of the Sofia metro, as well as highways and port concessions, among others. The team continues to expand its expertise in the automotive sector, with new client gains including Toyota. Stefan Tzakov focuses on state-related matters in this space and leads the practice alongside Atanas Shopov, who specialises in infrastructure projects.

Rising stars: Elena Apostolova

Practice head(s): Stefan Tzakov; Atanas Shopov

Other key lawyers: Elena Apostolova

Testimonials

A very responsive and reliable partner firm. Reasonable approach and provide practical advice.’

Work highlights:

Advising ICBCIL Aviation Company on the leasing of three Airbus A320-214 aircraft from Bulgaria Air.

Advised the consortium HSS-Monolit Sofia on a public procurement procedure for the design and construction of a new section of the Third Line of the Sofia metro.

Advising SAAB on the development and construction of transport infrastructure for the needs of the Bulgarian military aviation.

Healthcare and Life sciences

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The multidisciplinary practice at Kambourov & Partners focuses on start-up undertakings and innovative provider outlets in the healthcare sector and covers the full range of matters, including regulatory issues, employment, competition, corporate transactions, IP rights and patient confidentiality. ‘Standout partners’ include practice co-leaders Andrey Alexandrov, who advises stakeholders in the pharma and healthcare sectors on ‘employment, personal data protection and regulatory’ issues, and Ivo Alexandrov, who ‘covers regulatory and finance matters’. The team often acts as local partner to international firms to advise on the Bulgarian aspects of transactions.

Practice head(s): Ivo Alexandrov; Andrey Alexandrov

Other key lawyers: Yana Todorova; Mario Arabistanov

Testimonials

‘The practice covers every aspect of the operations of any stakeholder in the healthcare industry, including regulatory, competition, intellectual property, corporate, commercial, tax, finance, employment, litigation. This makes it a one stop legal shop for any healthcare business and as a client, gives you the reassurance that any matter can be handled expertly regardless of its legal nature. The team has very deep insight and all-round knowledge of the healthcare sector, as well as a strong commercial focus. They are remarkably results and client-oriented, approachable and consistently attentive and supportive.’

‘Strong life sciences practice in Bulgaria.’

‘Much can be said about the things that make the individuals stand out such as their immense knowledge, experience, business sense, deep professionalism. They are also some of the most thorough and dedicated professionals I have met. They stay on top of things, consistently reinventing and improving themselves to adequately respond to the ever changing market conditions. Standout partners include co-heads of the healthcare practice, Ivo Alexandrov and Andrey Alexandrov. Ivo covers regulatory and finance matters, while Andrey focuses on employment, personal data protection and regulatory. I’d highly recommend both of them.’

Work highlights:

Represented Specialised Hospital for Active Treatment in Obstetrics and Gynecology Selena as a respondent in proceedings before the Bulgarian competition authority and subsequently was retained to advise and assist on the sale of Selena University Specialised Hospital.

Advised on certain regulatory and compliance aspects of Merck’s operations in Bulgaria.

Advised Takeda Pharmaceuticals on various aspects of the Bulgarian pharmaceuticals legislation.

TMT

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Praised for its demonstrable experience in handling ‘domestic and international telecoms and satellite communications law’ matters, Kambourov & Partners’ caseload includes landmark transactions, as well as litigation, compliance and regulatory mandates. The team’s diverse and enviable client list includes United Group, Facebook, TikTok and private equity firm Silverfleet capital. Following the departure of Mitko Karushkov in February 2021, IP specialist Margarita Guigova leads the practice group and is supported by key contacts Mario Arabistanov, who focuses on personal data protection compliance, and Yana Todorova.

Practice head(s): Margarita Guigova

Other key lawyers: Mario Arabistanov; Yana Todorova

Testimonials

‘The team provides continuity and an exceptional knowledge of Bulgarian law and practice. Notwithstanding, what precedes the team has an impressive potential and capacity to learn and to advise in complex matters such as, but not limited to, domestic and international telecoms and satellite communications law and regulations.’

‘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. The term sheets and reports are always submitted on time, and we have always been satisfied by the value of their services.’

Work highlights:

Advised Silverfleet Capital on its €45m investment in the merger of the Bulgarian software company Bulpros and the German CRM leader ec4u.

Advising the Bulgarian Telecommunications Company on a number of transactional and regulatory matters.

Advising TikTok on regulatory matters.