Practice Areas

arsov natchev ganeva

Restructuring and Insolvency

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ANG`s team is known for its strong expertise in the field of restructuring, insolvency and forcible debt collection, with particular emphasis on contentious insolvency litigation. The managing partner Vladimir Natchev is recognized as one of the leading insolvency experts in Bulgaria and his close engagement and response to the clients` needs contributes to the high number of successfully resolved disputes between creditors and insolvent debtors.

We employ comprehensive approach to all aspects of already existing or emerging financial difficulties and provide flexible legal solutions in order to protect both the interest of the client, as well as the affected debtor. Our advice covers all aspects of restructuring and insolvency matters, including transactional and litigation matters, retention of title claims, enforcing securities, out of court settlements, to name a few.

We believe that the supreme aim and objective of the restructuring and insolvency proceedings is not the liquidation and the elimination of insolvent entities, but rather the remodeling of the financial and organizational structure of debtors experiencing financial difficulties in order to permit continuation of their business activities and eventually to lead to financial recovery.

In our activities in this particular legal field we advise domestic as well as international clients. Our restructuring and insolvency experience include:

  • Representing a number of international airport operators, such as Frankfurt Airport, Paris Airport, Heathrow Airport, Hanover Airport, Stuttgart Airport, FMO Passengers services in the notorious insolvency case of the Bulgarian Airlines “Balkan”;
  • Representing Ekopack Bulgaria, the largest packaging waste recovery organization, in a multitude of litigation insolvency proceedings against debtor companies. Many of those proceedings were closed with an out-of-court settlement which satisfied the interest of both parties involved;
  • Representing Danone Group in dozens of insolvency litigations versus debtors from various levels of the supply and distribution chain of dairy products commerce. ANG team managed to successfully close a large part of those disputes with settlements, which granted time for financial recovery to the debtors experiencing cash flow problems, as well as satisfaction of the client’s outstanding receivables;
  • Representing Arcelor Mittal Group in debt recovery proceedings as well as bankruptcy proceedings against some of its non-performing customers;
  • Representing the Kingdom of the Netherlands in the context of forcible execution and insolvency proceedings against a large Bulgarian company.