New Balkans Law Office has acted for a Dutch investor, the claimant in legal proceedings which recently attracted considerable coverage by the British press and subsequently also in Bulgarian news media.

NBLO has represented its client throughout the matter, who preferred to remain anonymous, initially to successfully give effect in Bulgaria of a worldwide freezing order (WFO) given by the High Court in London and subsequently proceeding against Ms Radeva for her prejudicial actions against our client as a creditor and on various ancillary aspects.

Separately, through one of NBLO’s partners who is also an English barrister, NBLO formed part of the UK legal team. In the UK, our client won a summary judgment for the sum of £192,000 plus interest and legal costs. This was all of our client's claim relating to sums which Ms Radeva had requested from him to ostensibly invest on his behalf. For a separate part of the claim (approx. €36,000), the High Court was unable to give a summary judgment on the basis that unlike the investment related claim, what had been the basis of these transfers from our client to Ms Radeva could not be established on the requisite standard of proof without a fuller investigation of evidence including oral hearings.

Our client’s claim was successful in part because of the very clear indications which Ms Radeva had sought to give of her apparent intention to invest the sums and of the way in which she had presented herself as an investment professional. Ms Radeva’s alternative explanation, that the sums had been advanced for sundry expenses in a relationship and similar, did not have sufficient evidential base and the court decided that they were implausible.

The English court process offers a number of features different to that in Bulgaria including summary judgments. In this, the court looks at whether the defendant’s theory of the case is not sustainable and there is no other good reason for a full trial. This tends to reduce the cost and quicken the outcome as it dispenses with the questioning of witnesses and the process of disclosure.

NBLO is uniquely positioned to advance transnational dispute resolutions in the Bulgarian and United Kingdom courts and judicial forums.