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LT Law (Ivanov & Tsoncheva) Advises Quendoo on Financing from Vitosha Venture Partners

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LT Law (Ivanov & Tsoncheva Law Firm) have assisted one of the local startups Quendoo on all legal matters in completing its financing of €750k. The financing is part of investment made by one of the VCs in Bulgaria – Vitosha Venture Partners which officially completed its first investments with a total of €2.4m. Quendoo …

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Restructuring of Bulsatcom

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Attorneys-at-law Mrs. Liliya Tsoncheva and Mrs. Gergina Kyoseva advised the biggest TV and satellite operator in Bulgaria – Bulsatcom EAD on its financial and operational restructuring on matters of Bulgarian law. The transaction involved restructuring of EUR 80 million existing syndicated bank facility by converting debt into equity in favour of the current lenders of Bulsatcom, including London-based …

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Compulsory VAT registration of related parties and persons acting in concert, which carry out the same activity

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Amendments aiming at termination of avoidance of VAT registration by taxable persons were introduced by the provision of Art. 96, para. 10 and para. 11 of the Bulgarian Value Added Tax Act (the “VAT Act”) as of 1 January 2020. Often upon reaching the VAT taxable turnover of an entity, a new legal entity is …

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