DGKV

On 15 November 2024, we are speaking on the national transposition of NIS 2 before members of AmCham Bulgaria. Join us for a discussion on the upcoming regulations and implementation challenges over a business breakfast organized by the Digital Economy Committee. Link in comments below:

На 17 октомври 2024 г. изтича срокът за транспониране на Директива #NIS2 (Директива (ЕС) 2022/2555 относно мерки за високо общо ниво на киберсигурност в Съюза) в националното законодателство. България няма да спази този срок, като се очаква необходимите изменения и допълнения на Закона за киберсигурност за въвеждане на Директива #NIS2 да бъдат предмет на обсъждане в Народното събрание след насрочените на 27 октомври 2024г. парламентарни избори. Периодът до окончателното приемане на измененията в националното законодателство дава възможност на задължените субекти да планират и предприемат мерки за осигуряване на съответствие с новите регулации за киберсигурност (#cybersecurity).   Екипът на DGKV Violetta Kunze и Georgi Sulev, подготви кратко изложение за обхвата на #NIS2 и задълженията на икономическите оператори, което искаме да споделим с нашите клиенти и заинтересовани страни.   On 17 October 2024, the deadline for transposing the #NIS2 Directive (Directive (EU) 2022/2555 on measures for a high common level of cybersecurity across the Union) into national law expires. Bulgaria will not meet this deadline. It is expected that the necessary amendments to the Cybersecurity Act to transpose the #NIS2 Directive will be debated in Parliament after the general elections scheduled on 27 October 2024. The period until the final adoption of the amendments into national legislation allows the in-scope entities to plan and take measures to ensure compliance with the new #cybersecurity regulations. DGKV’s team, Violetta Kunze and Georgi Sulev prepared a summary of #NIS2 scope and the obligations imposed on the economic operators, which we would like to share with our clients and stakeholders. The publication is available in Bulgarian:

DGKV is pleased to have supported the campus development project of the American University in Bulgaria aimed at improving the student experience. Our team provided comprehensive legal assistance throughout the process, from engaging the construction advisory team through reviewing tender documentation, to preparing the construction contract and the appointment of the contractor. We were involved in each stage, offering guidance to the client and project manager as needed. DGKV’s team comprised of partner Kaloyan Krumov, senior associate Nikolina Stefanova and associate Yavor G..

DGKV is delighted to announce that our IP practice is yet again highly recognised in the latest Managing IP’s Rising Stars and Corporate Stars rankings, which were revealed earlier this week. These lists, produced by Managing IP’s accreditation and titled IP STARS, showcase emerging talent in private practice as well as experienced in-house counsel who deserve recognition. DGKV’s IP practice group head Kalina Tchakarova has been named IP Star in Trademarks in the 2024 edition of IP STARS (Managing IP). Our Seniour Associate Krasimir Hristov has been recognised as a Rising Star 2024. The law firm reaffirms its excellent reputation in Intellectual Property Law being recommended for copyright and related rights. For eighth year in a row DGKV’s IP practice has also been recognised as a Tier 1 law firm for Trademark work and highly recommended in Patents and Copyright & related rights by the IP STARS (Managing IP). IP STARS (Managing IP) - the leading specialist guide to IP firms and practitioners worldwide, has been researching and ranking IP firms in over 80 jurisdictions since 1996. According to its publishers, this is the most comprehensive authoritative survey of the IP legal market available. The rankings are based on extensive six-month research of strength of the IP team, workload, record of accomplishments, as well as on client and peers’ feedback. CONGRATULATIONS!

We're #hiring a new Administrative Assistant in Sofia, Sofia City. Apply today or share this post with your network.

We're #hiring a new Administrative Assistant in Sofia, Sofia City. Apply today or share this post with your network.

DGKV advised the joint lead managers on a triple-tranche issue of EUR 3 billion and USD 1.5 billion sovereign bonds by the Republic of Bulgaria under its GMTN Programme. DGKV advised the joint lead managers on matters of Bulgarian law in relation to a triple-tranche sovereign bond issue in September 2024 under the Republic of Bulgaria’s EUR 20 billion Global Medium Term Note Programme. The issue consists of: EUR 1.75 billion 3.625 per cent. tranche due 2032, EUR 1.25 billion 4.250 per cent. tranche due 2044, and USD 1.5 billion 5.000 per cent. tranche due 2037. The tranches are listed on the Luxembourg Stock Exchange. The issuance attracted robust investor interest and marked the return of Bulgaria to the USD markets after 20 years. DGKV’s team was led by partner Gergana Monovska, LL.M.  

DGKV has been entrusted to represent ELEKTRORAZPREDELITELNI MREZHI ZAPAD EAD (formerly CEZ RAZPREDELENIE BULGARIA) – one of the largest electricity distribution companies in Bulgaria[1], in Case C-310/2024 before the Court of Justice of the European Union.   The case was opened based on a Request for a preliminary ruling made by the Sofia Regional Court on five questions relating to the interpretation of Directive (EU) 2019/944 on common rules for the internal market for electricity, Regulation (EU) 2019/943 on the internal market for electricity (part of the so-called Fourth Energy Package) and Directive 2011/83 on consumer rights.   The main procedure was initiated by an electricity consumer against ELEKTRORAZPREDELITELNI MREZHI ZAPAD EAD. In essence, the claimant is seeking a declaration that he is not required to pay an electricity bill that is based on estimated consumption for the three months prior to the reading of an electrometer that was defective and therefore was not accurately recording actual consumption.   According to the Court, the Rules for Measuring Electric Energy, providing the national rules on pricing in case of defective electricity meters, applicable in the case, require further legal interpretations of the relevant EU acts on issues of: § how electricity prices are set; § the components that are to be included; § how the principle of energy efficiency is to be applied; § whether a consumer is required to pay the price for an estimated amount of electricity if the metering device has failed or has recorded consumption incorrectly and that has been caused by an external influence; § the proportionality of costs in the energy system and the duty for consumers to bear such costs, in view of the principle that the supplier/operator is to be provided with incentives to limit its losses.   It also considers the interplay between the principles of energy efficiency and protection of consumers, both protected on EU level, in a situation where the consumer did not cause the damage to the electricity meter.   The case is crucial not only because it is one of the few opportunities to interpret the rules of the Fourth Energy Package, but also given the immediate implications it could have for electricity distribution companies, suppliers, consumers and the functioning of the energy market.   The team at DGKV is being led by the head of Dispute Resolution and Arbitration Angel Ganev and consist also of the partners Anton Krastev and Valentin Bojilov and senior associate Delyan Dzhurov.   [1] Operating in ten regions of Western Bulgaria, covering an area of 40,000 square kilometers, with a population of nearly 3,000,000 inhabitants [1] Operating in ten regions of Western Bulgaria, covering an area of 40,000 square kilometers, with a population of nearly 3,000,000 inhabitants

On 12 July 2024, the EU Artificial Intelligence Act (#AI_Act”) https://lnkd.in/eHB5C4yP was published in the Official Journal of the European Union. This landmark legislation establishes harmonised rules for AI governance, including for the placement on the market of AI systems and general-purpose AI models, as well as putting into service and use of AI systems. The AI Act has a direct effect and horizontal application in all EU Member States. The AI Act will enter into force on 1 August 2024 and will apply in its entirety from 2 August 2026 subject to a few exceptions including: (i)                 the prohibition of certain AI practices and the general provisions of the AI Act that start applying from 2 February 2025; (ii)               the obligations of general-purpose AI model providers and the AI Act provisions on unified AI governance, supervision and sanctions that start applying from 2 August 2025; and (iii)              the rules regarding the classification of AI systems as high-risk systems based on their intended use and the obligations of operators in this respect which start applying from 2 August 2027. Members of #DGKV AI Governance team: Violetta Kunze, Ralitsa Gougleva, Georgi Sulev and Anita Dangova, are pleased to share with clients, partners and fellows in #Bulgaria and beyond a publication AI ACT: summary OVERVIEW AND EXPLANATION OF KEY PROVISIONS/ „Акт за изкуствения интелект: КРАТКО ПРЕДСТАВЯНЕ И РАЗЯСНЯВАНЕ НА ОСНОВНИТЕ ПРАВИЛА” In it, you can find answers to the following questions: o  What does the AI Act govern? o  To which organizations and professionals does the AI Act apply? o  Whose rights and interests are protected? o  What is the regulatory approach? o  Which AI practices are prohibited? o  Which AI systems are defined as high-risk? o  What are the principal requirements to high-risk AI systems? o  What are the main obligations of high-risk AI system operators? How is responsibility allocated among operators? o  How shall a conformity assessment of high-risk systems be done? o  What obligations do operators have with respect to AI systems intended to interact directly with natural persons and AI systems that generate synthetic content? o  How are AI models classified? o  What obligations do providers of AI models have? o  How are AI unified governance and supervision provided? What are the sanctions? o  Any recommended first steps? The publication is available both in English (https://lnkd.in/e675MFUg) and in Bulgarian language (https://lnkd.in/ep6bRGys).