Mikinski & Partners Law Office has a long-stand history in legal consulting in the field of banking law, providing legal services and assistance to credit intermediaries, credit institutions (banks), individuals and legal entities in connection with their lending. Our services span across the following spectrum of activities:
In relation to the activity of Credit Intermediaries:
- Credit intermediary registration. The law firm assists in the preparation and submission of all necessary documents for registration of a company as a credit intermediary in the Register of Admitted Credit Intermediaries kept by the Bulgarian National Bank.
- Submission of information to the Bulgarian National Bank, statements and all necessary documents related to the activity of the credit intermediary. Every company registered as a credit intermediary is obliged to submit periodic information to the Bulgarian National Bank, which requires specific knowledge and experience available to the Office.
- Assistance in complying with the requirements of a company and its employees for a credit intermediary. The law firm takes care of the full implementation of the requirements of the Bulgarian and Jewish legislation, which are introduced for the companies and its employees, which carry out this activity.
In relation to the activity of Credit Institutions:
- Consultation to ensure compliance with banking regulations. The law firm monitors the activities of the bank in accordance with European and domestic legislation.
- Drafting of internal acts and regulations, including general terms and conditions, framework and individual contracts, forms of documents, declarations, agreements and any type of documents related to the setting up of the internal processes in the bank.
- Communication with the relevant regulators of the banking system and implementation of instructions on their part.
- Assistance in concluding and amending bank loan agreements. Includes an in-depth review of bank loan agreements and their annexes when specific lending hypotheses and/or special conditions are present.
- Assistance in the title search of real estate to serve as collateral to secure a bank loan agreement. The law firm sees to the proper securing of bank loan agreements by a title search of movable and immovable property and sees to the full disclosure of encumbrances against the property – mortgages, easements, rights of use, foreclosures, registered claims, etc.
- Assistance in closing contractual mortgages and tacit hypothecations. Our firm provides assistance in the preparation of notarial deeds for raising contractual mortgages, as well as of applications for recording of tacit hypothecations with the appropriate state agencies.
- Setting up and registration of registered pledge agreements. The service includes drafting of a special pledge contract and the accompanying documents, submitting and recording the special pledge with the Central Register of Special Pledges.
- Court and out-of-court debt collection of defaulted loans, including declaring the loan pre-term executable, obtaining an order for immediate execution and a writ of execution, initiating and pursuing an enforcement case.
- Preparation of legal opinions on cases. The law firm provides legal opinions and rational solutions to problems related to the activities of the bank of any nature.
Advice to individuals and legal entities on lending:
- Assistance in the drafting and obtaining documents necessary for a bank loan, which includes submitting applications to the relevant institutions for obtaining certificates of encumbrances, tax assessments, real estate layouts/sketches, certificates of identity, certificates from the Registry Agency, etc.
- Assistance in executing a bank loan agreement for the purchase of real estate. In addition to assisting in the drafting and submission of the documents required for the bank loan agreement, the law firm conducts a comprehensive survey of the real estate that the borrower buys with the bank’s funds.
- Assistance in refinancing and rescheduling a bank loan agreement. The law firm enters into communication with the creditor in order to reschedule the borrower’s debt, obtain an additional payment term and/or raise additional collateral, which saves the debtor the burden of collecting his or her debt in court, fees, costs and directing enforcement against the property – public sale, etc.
- Protection in case of pre-term execution of a bank loan, which includes review of the bank loan agreement for null and void clauses, checking whether the conditions for pre-term execution are present, whether the amounts claimed correspond to the actual amount of the debt, etc.