Event Report

On May 30th, The Legal 500 returned to Sofia to host the GC Summit South East Europe 2023. The event brought together prominent general counsel and private practice practitioners from Bulgaria, Hungary, North Macedonia, Serbia, and Turkey. They engaged in insightful discussions and exchanged ideas on cutting-edge legal topics through five remarkable panel sessions.

The Summit commenced with keynote speeches by Vladimir Penkov, chairman and senior partner at Penkov, Markov & Partners, and Christina Koycheva, regional legal director at Veolia.

The first panel, moderated by Atanas Valov from Penkov, Markov & Partners, provided a comprehensive introduction to the execution of foreign court and arbitration awards in South East Europe. Erdem Atilla (Pekin & Pekin), Silvi Chernev (Arbitration Court at the Bulgarian Chambers of Commerce and Industry), and Tania Iossifova (Arbitration Court at the Bulgarian Industrial Association) joined the discussion. They delved into the unique challenges associated with enforcing foreign court and arbitration awards in the region, covering aspects such as the recognition of foreign judgments, the enforcement process, and the potential obstacles encountered in different jurisdictions. The panel also shed light on best practices, recent developments, and practical insights to navigate the complexities of execution.

Nemanja Stepanovic, managing director at JPM Jankovic Popovic Mitic, introduced the following session. The panel, consisting of Konstantin Atanasov (Coca-Cola Hellenic Bottling Company), Dessislava Boyadjieva (Hankel), and Georgi Penev (Bulgarian Fintech Association), explored the growing significance of legal technology in the legal industry. They highlighted the reasons behind this trend, such as the increasing demand for personalised client advice and improved service quality on a global scale. The panel also addressed the challenges of talent attraction, retention, and staff education, as well as the vast amounts of unstructured data that law firms possess. Expert speakers provided practical guidance on leveraging legal tech within organisations, encompassing its use, budgeting, and implementation strategies.

The third session was moderated by Nikolay Cvetanov, managing partner at Penkov, Markov & Partners. Alongside Anil Acar (Pekin & Pekin), Jasna Cvetkovska (Deutsche Telekom), Ventsislav Karadjov (Bulgarian Commission for Personal Data Protection), and Vihren Slavchev (Mnemonica), they discussed compliance challenges and developments in data protection and privacy, coinciding with the fifth anniversary of the GDPR’s implementation. The panel examined the implications of the digital evolution of business processes, the rise of artificial intelligence, and the widespread adoption of cloud computing solutions. They also explored the role of the European Data Protection Board in ensuring consistent implementation of data protection rules throughout the European Union.

Georgi Dimitrov, partner at Georgi Dimitrov Attorneys, chaired the fourth panel. Joining him were Igor Andreevski (Remoticom), Martin Dimitrov (WealthLock), Neven Duić (Croatian Academy of Engineering), Teodor Georgiev (Nestlé), Boyan Radecv (Denkstatt Bulgaria), and Nikolay Voynov (Penkov, Markov & Partners). They discussed the urgency of addressing sustainability in today’s global landscape. The panel focused on the Sustainable Reporting Directive, a regulatory framework aimed at standardising and enhancing sustainability reporting practices. Dimitrov explained that the Directive promotes transparency and accountability, empowering organisations to accurately measure and disclose their environmental impacts. In South East Europe, the transition to renewables and the implementation of the Green Deal hold great significance, bringing forth unique challenges and opportunities. The esteemed experts analysed the progress made, discussed potential roadblocks, and explored ways to advance the green agenda in South East Europe.

To conclude the Summit, Péter Berethalmi, partner at Nagy és Trócsányi, led a panel on the enforcement of drag-along, tag-along, call, and put options in South East Europe. Teodora Ivanova (Kaolin EAD and Quarzwerke Group), Boris Lazarov (Penkov, Markov & Partners), and Firat Yalcin (Pekin & Pekin) engaged in an engaging conversation, exploring the intricate realm of corporate transactions and their enforcement in South East Europe. The panellists shared insights, personal experiences, and ideas to navigate the complexities of implementing provisions in the region.

After a very compelling full-day Summit, attendees continued the conversation and enjoyed a valuable networking opportunity over drinks and canapés at the famed Balkan Palace.

A huge thank you again to all our panellists for sharing their insights, and special thanks to Penkov Markov & Partners, Georgi Dimitrov Attorneys, JPM Jankovic Popovic Mitic, Nagy és Trócsányi, Pekin and Pekin for partnering with us on this successful event in Sofia.

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