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DGKV Successful for Bulgarian Mezzanine Partners Consortium in Public Procurement Dispute with Bulgarian Fund of Funds

DGKV Successful for Bulgarian Mezzanine Partners Consortium in Public Procurement Dispute with Bulgarian Fund of Funds

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DGKV has successfully represented Bulgaria's Mezzanine Partners Consortium before the Fund Manager of Financial Instruments in Bulgaria EAD, the Bulgarian Commission for Protection of Competition, and the Bulgarian Supreme Administrative Court, in a public procurement tender (and related disputes) for a manager of a BGN 75.4 million (approximately EUR 38.5 million) Mezzanine Fund/ Growth Fund, which is designed to provide financing to small and medium enterprises.

According to DGKV, "the latest dispute arose as the result of a decision by Fund Manager of Financial Instruments in Bulgaria EAD to replace the awarded bidder, Mezzanine Partners, as contractor, with the second ranking bidder, Consortium Mayfair Partners, due to Mezzanine Partners' alleged failure to provide necessary documents for the execution of the Operational Agreement."

According to the firm, "the FMFIB's decision was appealed and revoked by final and binding decision of the Supreme Administrative Court, and Mezzanine Partners was recognized as the awarded bidder." As a result, the firm reports, the Operational Agreement between FMFIB and Mezzanine Partners is expected to be finalized sometime this month.

DGKV’s team included Partner Georgi Tzvetkov, Counsels Anton Krustev and Valentin Bojilov, Senior Associate Gergana Monovska, and Associate Hristo Stoyanov.

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