Ivaylo Dermendjiev

“Simeonov & Dermendjiev” Law Firm provides legal services in various fields of civil, commercial, corporate, tax and patent law. The firm offers a wide range of advice on foreign investment, privatization, real estate transactions, concession arrangements, etc. The firm is particularly focused on litigation and representation in domestic and international arbitration proceedings. Senior partner Ivaylo Dermendjiev is an arbitrator and member of the Board of the Arbitration Court at the Bulgarian Chamber of Commerce and Industry. Mr. Dermendjiev is member of the London International Court of Arbitration and is on the roll of arbitrators of the Court of Arbitration for Sport, Lausanne (Switzerland). 

Mr. Dermendjiev is a legal representative of the Government for the biggest international arbitration cases of Bulgaria (ICC - Paris, Geneva) - Privatization Agency of Republic of Bulgaria, Post – privatization control Agency (against “Zeevi Holdings” - Israel concerning the privatization of Balkan airlines, Arthur Andersen -  UK, Touristinvest - Switzerland, EVN – Austria, CEZ a.s. – Czech Republic). Also he is advisor and legal representative of National Electricity Company on international investment projects. 

Clients of the firm include individuals, commercial companies and state entities acting both as claimants and respondents in arbitration.

It can not be definitely said that particular type of clients or sectors of business are more or less suited for arbitration. Nevertheless, lease companies and construction companies often resort to arbitration as means for resolving disputes. The main advantage of arbitration is speed. Obtaining a final decision of a state court by going through all instances can take years. Conversely, in the general case a final arbitration award would be rendered within 12-14 months after commencement of proceedings.

Any dispute can be resolved by way of arbitration in Bulgaria unless the subject matter of the dispute relates to any rights in rem or possession of a corporeal immovable, maintenance obligations or rights under an employment relationship. Other ADR method that gains popularity is mediation.

Since Bulgaria joined the EU, a reform of judiciary has been already implemented. A new Judiciary System Act was adopted in August 2007 aimed at improvement of the system in terms of openness, accessibility, effectiveness and transparency in pursuance of the procedural laws. A new Code of Civil Procedure is in force effective 1 March 2008.
The Arbitration Court at the Bulgarian Chamber of Commerce and Industry is one of the major arbitration institutions and is regarded as the traditional and most influential and reputable arbitration institution in Bulgaria. The arbitration rules and fees are accessible at the second website listed above. Arbitration institutions endeavour to assist firms by organizing education, courses and symposia.

We can proudly and reasonably assert that our firm provides legal services in significant portion of the international arbitrations commenced annually and conducted under the aegis of international arbitration institutions with Bulgarian parties being involved and is recognized as the arbitration leader in Bulgaria.