Publications
Deep dive into the trends shaping the future of law and business.
Preventive restructuring - an opportunity for real salvation for businesses
In 2024 only 3 applications for preventive restructuring of a trader were filed before Bulgarian courts, while the number of insolvency proceedings initiated was 737. This ratio is somewhat strange, given that the purpose of the former is to serve as a lifeline for a business even before it has fallen into complete inability to service its creditors. Our senior associate Tsvetelina Koleva, an expert in dispute resolution, arbitration and insolvency, explains for Capital what the procedure for preventive restructuring of a trader is, when it is the right time to proceed and why it is so unpopular in Bulgaria.