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Financial Services & Insurance
22 lawyers
248 clients
Financial Services & Insurance


Our Financial Services & Insurance team has established an impressive track record over the years by, among other things:

  • Advising Bulgaria’s Single Resolution Board on legal considerations and requirements for the granting of collateral over the assets of a financial institution to which it has granted liquidity support as part of a resolution tool under the Single Resolution Mechanism Regulation.
  • Advising Mastercard Europe SA on the compatibility of its payment systems and payment-processing activities with Bulgarian and EU law, as well as on matters related to its relations with local business partners and various initiatives regarding proposals for legislative changes.
  • Advising Western Union Financial Services International and subsequently Western Union Payment Services Ireland Limited on banking-regulatory matters, including those related to the implementation of the Forth AML Directive.
  • Advising a Citigroup Global Markets-led consortium of managers on Bulgarian law aspects of international placements of Eurobonds issued by the state-owned Bulgarian Energy Holding, including a 2018 issue of EUR 400 million Eurobonds followed by two tap issues of EUR 150 million and EUR 50 million Eurobonds dually listed on Euronext Dublin and the Bulgarian Stock Exchange, and a 2021 issue of EUR 600 million 2.45 % Eurobonds listed on Euronext Dublin.
  • Advising joint lead managers J.P. Morgan Securities plcBNP ParibasCitigroup Global Markets Limited, and UniCredit Bank AG on the update of the Republic of Bulgaria’s Global Medium Term Note Programme (which increased from EUR 8 billion to EUR 10 billion in 2020) and its concurrent 2020 issuance of EUR 2.5 billion sovereign bonds.
  • Representing Exportní Garanční a Pojišt’ovací Společnost a.s. in its capacity as a joined creditor in bankruptcy proceedings as well as in a number of avoidance actions brought against third parties with regard to collection of over EUR 3 million in debt.
  • Providing advice to Visa Europe on applicable Bulgarian advertising regulations, performing compliance reviews of its advertising scripts and promotional activities, and advising it on antitrust and unfair-competition rules applicable to local operations and relations with merchant banks.