Popov & Partners Legal Office presented its know-how on receivables collection to banks and key companies in the Bulgarian economy

On 18 June 2009 at Crystal Palace Hotel in the form of an elegant presentation and cocktail event, the associates at Popov & Partners and several of its team members explained their innovative approach applied as part of the highly popular service of Extrajudicial and Judicial Collection of Receivables. This hot topic gathered numerous representatives from a wide range of companies in the Bulgarian business sector and raised many comments and considerable interest in the course of the event.

‘In the time of crisis, one of the best ways to survive is to organise your own finances efficiently and to set your documentation flow in order, so that you preserve optimal clarity in the management of your company’s capital,’ said Ms Iskra Kishkova, Managing Associate, at the thematic cocktail.

In view of the serious number of debts among companies as well as of the users of public services, Popov & Partners presented an innovative and sustainable approach to collecting receivables, which included a mechanism for the systematic implementation of a series of measures building towards the ultimate successful collection of the receivable. Active participation by the audience transformed the meeting into a healthy discussion which provided a vision for attaining high collectibility of receivables despite current heavy indebtedness.

‘There is always money,’ explained Iskra Kishkova, ‘the trick is to analyse the financial state of the debtor and to identify the right moment in which they will be able to make the payment.’ Mr Galin Popov, Senior Managing Associate, added that the asset of a mobile and flexible team ensures high level of collectibility of the receivables.

A software product, unique for Bulgaria, was presented as a successful mechanism in collecting various types of receivables – regardless of their number, amount or source. Consultancy services also comprise a significant share of the activities at Popov & Partners, yet the possibility to ensure a reliable working mechanism for collecting receivables appears to be of the greatest importance in the daily management of affairs.

Among the guests who indicated serious interest in the know-how were the representatives of UniCredit Bulbank, DSK Bank, Bulgarian-American Credit Bank, United Bulgarian Bank, Municipal Bank, International Asset Bank, and other Bulgarian and international companies, including Toplofikatsia – Sofia, Sofiyska Voda, DHL Express Bulgaria, Sofia France Auto, and Fairplay Properties Management.

The team of Popov & Patners managed to respond individually to all questions raised by participants during the event. Certain guests indicated their interest to start using the service as soon as possible.