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Negotiations is often the fastest, cheapest and most efficient method of alternative dispute resolution in which a trustworthy commercial lawyer can be of great legal help to the companies they are representing. Negotiations save time and cut costs – compared to court litigation – and can be held from a distance. For example an attorney working on commercial cases in Sofia can conduct negotiations from his office with another lawyer in Plovdiv using the internet to exchange various documents and data. The mutual concessions in preliminary negotiations are in most cases advantageous to both parties and if the negotiations are successful all agreements have to be drawn in legal form.
If no agreement has been reached in a dispute, initiation of commercial litigation proceedings is then used as a traditional method of conflict resolution. Experienced Bulgarian business lawyers are quite familiar with all aspects of court proceedings and know what to do in order to protect their clients’ interests. In the recent years Bulgarian Civil Procedure Code provides faster procedures for hearing commercial cases and in this relation unconscientious defendants sometimes try to find ways to avoid hearings in trials against them and to delay the entire process as long as possible. It is also important for plaintiffs to secure assets by freezing bank accounts, place injunctions etc. in order to ensure that the defendant will have enough assets to cover the amounts awarded by court.
There are a lot of specific moments in commercial legal matters in Bulgaria which are not widely known but the observing of which is really important for the best interest of any business entity. Something not very important at first sight – e.g. an official change of the seat and registered office or of the authorized representatives of the company – can have negative impact which could result in thousands and even millions of losses. The general principle in Bulgaria is that the rules for conducting commercial cases are stricter compared to civil litigation and should be followed very carefully.