Penkov, Markov & Partners

05/06/2026

As part of the regulatory measures following the introduction of the euro, new consumer protection legislation has been proposed, setting strict rules on when traders may increase prices during a one-year period starting this summer, following the measures already adopted under the Euro Act.

The proposed sanctions for non-compliance are significant, and it remains to be seen how the new framework will be applied in practice by the regulatory authorities.

Bulgaria’s Parliament adopted amendments to the Consumer Protection Act introducing anti-speculation measures, expanded CPC powers, daily price reporting obligations for large businesses, and substantial sanctions for unjustified price increases.

02/06/2026

We were delighted to be represented by our colleagues Roman Stoyanov and Asen Apostolov at the General Counsel Forum for Central and Eastern Europe, organized by Lex Mundi in Belgrade.

The forum brought together leading legal and business professionals from across the region to discuss key developments shaping today's business environment, including current trends in M&A transactions, market dynamics, and practical challenges facing companies and their legal teams.

We are particularly proud that Asen Apostolov contributed as a panelist in the M&A session, sharing insights drawn from his extensive experience advising on complex transactions.

Participation in events such as this reinforces our commitment to delivering high-quality legal services while strengthening relationships with colleagues and clients across Central and Eastern Europe and the broader international business community.

We extend our sincere thanks to Lex Mundi for organizing another excellent forum and to JPM | Partners for their warm hospitality and outstanding organization.

We look forward to continuing these valuable discussions and collaborations across the Lex Mundi network.

28/05/2026

Penkov, Markov & Partners is proud to announce that the firm’s Managing Partner, Nikolay Cvetanov, has been shortlisted for the Legal 500 Central & Eastern Europe Awards 2026 in the Lawyer of the Year in Bulgaria category.

This nomination recognizes Nikolay’s outstanding professionalism, leadership, and long-standing contribution to the legal market in Bulgaria.

Over the years, he has built a strong reputation for delivering strategic advice, leading complex projects, and earning the trust of both local and international clients.

At the same time, this achievement reflects the strength, expertise, and dedication of the entire Penkov, Markov & Partners team. At PMP, we remain committed to providing high-quality, business-oriented legal solutions and supporting our clients across some of the most important and dynamic sectors of the market.

We are grateful to our clients, colleagues, and partners for their continued trust and support.

28/05/2026

📈 Pricing Regulation 💰 Pay Transparency ⚖️ Competition Rules 🏛️ Public Procurement

In this edition of our Legal Digest, we highlight several important legislative developments in Bulgaria, including new rules on price regulation following the introduction of the euro, implementation of the long-awaited EU Pay Transparency Directive, proposed changes to competition law, and updated inflation indexation rules for public procurement contracts.

The proposed reforms are expected to have a significant impact on businesses across a number of sectors, particularly in relation to pricing policies, employment practices, competition compliance, and long-term commercial and infrastructure projects.



https://penkov-markov.eu/en/legal-digest

22/05/2026

Significant changes are being introduced in the regulation of financial services provided remotely, aimed at strengthening consumer protection and ensuring greater transparency in the digital environment.

Businesses in the field shall duly comply with the new framework in order to avoid substantial sanctions.

Amendments to Bulgaria’s Consumer Protection Act implement Directive (EU) 2023/2673, strengthening rules for distance financial services—enhanced pre-contract information, withdrawal rights, clearer explanations, and bans on manipulative online practices

15/05/2026

With the adoption of the new Law on Transparency in the Representation of Interests, Bulgaria introduces its first comprehensive framework regulating lobbying activities, placing transparency and accountability at the core of interactions with public authorities.

The new regime significantly broadens the scope of what constitutes influence, introduces a public register and traceability mechanisms, and is set to reshape how businesses and organizations engage in the policy-making process.



https://penkov-markov.eu/en/legal-digest/for-the-first-time-regulation-of-lobbying-in-bulgaria

11/05/2026

The successful hosting of the Giro d’Italia 2026 stages in Bulgaria marks a landmark achievement not only for international sport, but also for the country’s growing presence on the global stage as a premier destination for world-class events.

Bringing one of the most iconic and widely followed cycling competitions in the world to Bulgaria required vision, coordination and the successful navigation of a highly complex legal, regulatory and organisational framework.

The event attracted international teams, officials, media representatives, sponsors and thousands of visitors, while showcasing Bulgaria’s breathtaking landscapes, cultural heritage and vibrant cities to a global audience of millions.

From picturesque mountain routes and historic landmarks to modern infrastructure and hospitality, the race offered an extraordinary opportunity to highlight some of Bulgaria’s most beautiful locations and to demonstrate the country’s capacity to host projects of exceptional international significance.

We are proud that Penkov, Markov & Partners have been honoured to serve the legal issues thus becoming part of this milestone project.

Great thanks to our managing partner Boris Lazarov and our experienced associate Nikolay Voynov who have led and advised on the whole public procurement process and of course, having advised on contractual, IP and compliance matters and provided the strategic guidance on regulatory, supported the successful implementation of the event.

The project stands as another example of PM&P’s capacity to support successfully more complex, high-impact international mandates requiring multidisciplinary expertise, seamless coordination and a deep understanding of both the legal framework and the commercial objectives behind transformative projects of national importance.

Beyond its significance in sport, the event generated substantial visibility for Bulgaria, reinforcing its attractiveness not only for tourism, but different investments and future international initiatives - a development we deem so important in the geopolitical situation.

At PM&P, we remain committed to supporting projects that shape industries, elevate Bulgaria’s international profile and create lasting economic and social impact, as we have done many, many times the past decades.

08/05/2026

The EU has taken a major step toward aligning insolvency frameworks across Member States with the adoption of Directive (EU) 2026/799, introducing common minimum standards in key areas such as asset tracing, avoidance actions and pre-pack sales.

The new rules are set to enhance efficiency, transparency and cross-border predictability in insolvency proceedings, and will require significant legislative adjustments at national level, including in Bulgaria.

Directive (EU) 2026/799 introduces common insolvency rules across the EU, covering avoidance actions, asset tracing, pre-pack sales, and new directors’ duties. Legislative changes in Bulgarian law are expected by 2029.

30/04/2026

💸 insolvency 🏛️ lobbying act 💰 financial services 🛍️ consumers 🚛 road transport

With the start of the spring, this edition of the Legal Digest explores key new developments shaping the regulatory landscape-from important EU-driven mechanisms in insolvency and the long-awaited first regulation of lobbying in Bulgaria, to upcoming changes in road transport and financial services.

Reflecting broader trends of digitalization, transparency and accountability, these frameworks signal increased compliance expectations and a more structured environment for businesses.

https://penkov-markov.eu/en/legal-digest

29/04/2026

We are delighted to share that Penkov, Markov & Partners has been shortlisted among the three finalists for National Law Firm of the Year - Bulgaria at the IFLR Europe Awards 2026.

Over the past year, our work has focused on complex M&A transactions, banking and finance, and large-scale project development and project finance - often combining these elements within a single mandate.

From renewable energy projects and cross-border acquisitions to corporate restructurings and innovative financing structures, our focus remains on delivering solutions that are both technically robust and commercially meaningful.

What makes this recognition particularly important to us is the way it is earned - through the substance of the work, the challenges behind each transaction, and the trust of the clients we work with.

To our clients, thank you for giving us the opportunity to be part of projects that shape businesses and industries.

And for our team, this is a reflection of consistency, precision, and commitment over time.

We are honoured to be among the leading firms in Bulgaria and excited for what lies ahead.