DGKV acts as a legal counsel and representative of Consortium Bulgarian Mezzanine Partners (“Mezzanine Partners”) before the Fund Manager of Financial Instruments in Bulgaria EAD (“FMFIB”; the Bulgarian Fund of Funds), the Bulgarian Commission for Protection of Competition and the Bulgarian Supreme Administrative Court in a public procurement tender for selection of a Fund Manager of a Mezzanine Fund/ Growth Fund to the amount of BGN 75.4 million (approx. EUR 38.5 million), which is to provide financing to SMEs at their growth stage, and related to the tender disputes.
The latest dispute arose as a result of a decision of FMFIB to replace the awarded bidder Mezzanine Partners as contractor with the second ranking bidder Consortium Mayfair Partners due to alleged failure of Mezzanine Partners to provide prerequisite documents for the execution of the Operational Agreement. The FMFIB decision was appealed and revoked by final and binding decision of the Supreme Administrative Court and Mezzanine Partners was recognized as the awarded bidder.
The execution of the Operational Agreement between FMFIB and Mezzanine Partners is expected to be finalized in January 2021.