As the usage of remote work tools increases, so does the demand for distance communication between employer and employee. Many would say that this is already a fact and on-going employee issues are easily addressed by sending an e-mail or making an entry in the company’s human resources management system.
On 29 March 2022, the new Bulgarian Covered Bonds Act was promulgated in the country’s State Gazette, launching a new era in covered bonds regulation in Bulgaria.
From the beginning of 2022 significant legislative changes have been made in the field of consumer law, aimed at modernizing consumer protection rules and adapting them to the digital economy. A new Act on the Provision of Digital Content and Digital Services and on the Sale of Goods (hereinafter referred to as “APDCDSSG”) entered into force on 1 January 2022, while amendments to the Consumer Protection Act became effective on 22 May 2022 (hereinafter “CPA”). With the abovementioned legislative changes in practice the requirements of a package of acts of the European Union, including The Digital Content and Digital Services Directive (Directive 2019/770), the Sales of Goods Directive (Directive 2019/771), the Omnibus Directive (Directive 2019/2161), are introduced in the Bulgarian legislation.
In January 2022, the new Regulation (EU) 2021/2282 of the European Parliament and the Council of the European Union of 15 December 2021 on health technology assessment (the “HTA Regulation”) entered into force on the territory of the European Union.
On January 18, 2022, CEE Legal Matters reported that Tsvetkova Bebov & Partners had advised Dronamics Capital on its IPO and listing on the Beam market of the Bulgarian Stock Exchange. CEE In-House Matters spoke with Svilen Rangelov, Co-Founder and CEO at Dronamics Capital to learn more about the matter.
Tsvetkova Bebov & Partners have advised the sellers on the sale of 100% of the shares in the capital of Transact Europe Group to GreenBox POS
The circa $28 million transaction closed in early April, 2022. The closing followed clearance of the transaction from the Bulgarian National Bank and the Commission for Protection of Competition, as well the meeting of a range of other CPs.
According to its recovery plan, Bulgaria aims to achieve energy independence and security, increased employment, and positive environmental effects.
The Bulgarian General Labour Inspectorate announced the start of a campaign aiming at inspection of the working conditions of the employees working from distance. A new methodology for monitoring legal compliance of the distance work practices in Bulgaria will be used allowing employers to electronically submit self-check questionnaires on the working conditions applied.
In light of the obligation of the Bulgarian Commission for Protection of Competition (“BCPC”) to determine annually its enforcement priorities during the respective calendar year, taking into account the current economic situation, the need to increase competition in certain markets or to improve the market conditions, BCPC with its Decision No. 80/27.01.2022 adopted its annual priorities for initiating antitrust proceedings, and proceedings concerning unfair competition and unfair commercial practices.
January 28, 2022, Kluwer Competition Law Blog
Tsvetkova Bebov & Partners has advised Dronamics Capital on IPO and listing on the Beam market of the Bulgarian Stock Exchange.
According to the firm, “Dronamics Capital [is] a special purpose vehicle established with the main purpose of investing the raised capital in Dronamics Global Limited … [making] this transaction akin to a special purpose acquisition company IPO.”
Political stability, managed inflation, and support plans for the most vulnerable social groups and businesses could ensure a financially stable year in Bulgaria, according to Tsvetkova Bebov & Partners Managing Partner Nikolay Bebov.