With the development of the market economy in Bulgaria, the term “banking law” has become more and more common in relations between private and public entities.
Banking law can be defined as a set of legal rules that regulate public relations that have arisen in the course of banking activities. At the heart of these public relations stays the relationship between a bank or a non-banking financial institution, on the one hand, and the end customer of a banking service (natural or legal person).
“Yosifova, Ivanov & Petrov” Law firm offers its clients full legal services in the field of banking law, where very often you can see interwoven various institutes of Corporate law.
If you are a corporate client, our law office may offer you the following legal services:
– assistance before the Bulgarian National Bank (BNB) during the procedure of issuing banking license in Bulgaria;
– assistance during the procedure for obtaining a license by the Bulgarian National Bank (BNB) for operating a branch of a foreign bank in Bulgaria;
– assistance and preparation of a package of documents, related to the acquisition of parts of a bank’s capital, including obtaining the relevant authorizations by the Bulgarian National Bank;
– preparation and drawing up of contracts, internal regulations and forms of any other documentation that ensures the normal operation of the activity of a bank or branch of a foreign bank in Bulgaria;
– preparation of legal statements on any questions/issue that may arise in relation to banking regulation, registration of a bank or non-bank financial institution or issues arising from relations with a client or a state regulatory authority;
– representation and consultations on bank loan agreements and transactions under which the bank will accept collateral;
– full legal service during registration of a bank or non-bank financial institution in Bulgaria;
– legal representation of banks in cases against clients – individuals and legal entities, or when challenging acts of state bodies;
If you are an end client of a bank or non-bank financial institution in Bulgaria, our law office may offer you the following legal services:
– review and consultation on bank loan contracts;
– full legal representation of a client before a bank or non-bank financial institution, when the client will secure the loan obtained with real estate or other security (review of a loan contract, review of a security contract – mortgage, special pledge or other);
– full legal representation of a client when concluding a loan agreement with banks or other financial institutions;
– full legal assistance of debtors (including joint debtor or debtors with a mortgage) and guarantors in case of ahead-of-term repayment of obligations as per bank loan agreement and actions taken by the bank to collect the outstanding amounts;
– full legal representation before a court in disputing unfair terms in bank loan agreements;
– full legal representation before a court in cases of borrowers against banks or non-bank financial institutions for disputing wrongful unilateral increase of interest on a loan agreement (the service is also offered if the loan has already been repaid by the client);
– representation of borrowers (out-of-court and judicial) against actions of a bank or non-bank financial institution, related to unilateral and unlawful change of conditions under а loan agreement;
If you have questions about any of our legal services in the field of banking law, or if you are interested in knowing more about banks and non-banking financial institutions in Bulgaria, please do not hesitate to contact us by using our contact details given in the „Contacts” section of our website.
You may also find useful information about our legal services in the field of banking law in the following article in our Blog section:
Registration of a financial institution in Bulgaria