Novel Law - Kolcheva, Koev Law Firm

Novel Law firm operates in Bulgaria since 1994, currently we are 6 partners, other associates and staff. We are fluent in English, German, French and Russian. We have correspondent offices in all larger towns of Bulgaria.

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We have vast practice in litigation and liaison for the appointment of receivers in bankruptcy proceedings, restructuring of non-performing loans, bankruptcy, all and any court cases available under the bankruptcy law, foreclosure on asset of distressed borrowers. We have successfully participated in various court proceedings in bankruptcy, including proceedings before the prosecution in relation to criminal offense being committed by certain debtors. Legal counsel for the refinancing of projects, restructuring of non-performing loans, bankruptcy, foreclosure on asset of distressed borrowers. So far we have been entrusted to collect more than 500 mortgage loans, 700 medium sized commercial company loans and 70 large scale loans. We have successfully closed 90% of these cases.

Most of the cases include all acts and actions available under the Bulgarian law, such as speed procedures for obtaining writ of execution (enforcement order by court), full scale court cases to establish the existence of obligations to the creditor, enforcement proceedings before bailiffs, enforcement proceedings under the Specific Pledges Act, court cases against the invalidation of mortgages of the bank as a result of sale under the SPA, appointment of manager under the SPA, bankruptcy, all and any court cases available under the bankruptcy law, liaison with receivers in bankruptcy, participating in negotiations to settle disputes and restructure non-performing loans, foreclosure on asset of distressed borrowers, etc.

We have represented the banks before the prosecution in relation to criminal offence being committed by debtors, including tax avoidance. Litigation in relation to several complicated and difficult cases for enforcement of securities under non-performing loans of large amounts, including enforcement of pledge on going concern, pledge on separate assets, litigation, bankruptcies, including profound knowledge of mortgages and court practice on: validity of mortgage, notary deed for transfer of property title, invalidation of contributions in kind, challenge of decisions of general meetings of shareholders, challenges against court decisions for invalidation of mortgages, any detail in bankruptcy, various cases related as ancillary to bankruptcy, claims for criminal offense by the debtor. Consultant to banks in relation to the distressed corporate bonds loan of the State Railways Holding, whereby the bank acted as fiduciary of the bond holders.