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Insights June 2022

Bulgaria: Director duties and ESG considerations

Bulgarian law requires that the directors of Bulgarian joint-stock companies perform their functions as directors by adhering to the “duty of care” standard of a prudent businessperson and always in the interest of the company and its shareholders. If a director fails to comply, they could be held liable for any damages caused to the company. The required duty of care standard is not easily reconciled with the current shift in corporate governance towards compliance with material ESG factors. While important for all stakeholders (e.g., employees, customers, vendors, and the communities where the company operates), ESG compliance could trigger additional financial costs and potentially be an obstacle to maximising profits.

News March 2022

Kinstellar announces new promotions to Partner and Counsel

Kinstellar is delighted to announce the promotions to Partner of Nina Tsifudina (Sofia) and to Counsel of Atanas Mihaylov (Sofia). PARTNER Nina Tsifudina, Sofia Nina has over 14 years of experience advising on large international transactions. She is counsel to local and multinational companies on a wide range of commercial matters and cross-border deals, reorganisations and market-entry strategies, with a focus on the TMT, pharma and financial services sectors. She also represents private equity and venture capital firms on acquisitions, disposals and restructurings, as well as portfolio companies on all corporate matters. Nina is highly experienced in all employment aspects of multi-jurisdictional