Paul Hastings Obtains Eurostat Approval for Trakia Motorway d.d.

October 08, 2007

Paul Hastings Obtains Eurostat Approval for Trakia Motorway d.d.

London (October 8, 2007) – Paul, Hastings, Janofsky & Walker LLP, a leading international law firm, assisted its client Trakia Motorway d.d. ( a company owned by Portugese companies Lena, MSF and Somag and Bulgarian Companies Technoexportstroy and Automagistrali) in obtaining a favourable off balance sheet Eurostat ruling. Obtaining a favourable ruling was critical to enabling Trakia Motorway d.d. to undertake the Euro 750 million Trakia Motorway Project in Bulgaria (the first Bulgarian PPP motorway project) as the Bulgarian Government had refused to proceed with the Trakia Motorway Project unless the project obtained off balance sheet from a Eurostat perspective.

London partner Jonathan Simpson led the Paul Hastings team, which included partner Liubomir Roglev and associates Costanza Russo and Kirk Lovric.

John Hawkins, Head of Paul Hastings’ Global Projects Group said: “Paul Hastings’ retention by Trakia Motorway d.d., underscores the firm’s reputation as the go-to firm for Central and Eastern Europe’s most ground breaking and high profile motorway project deals. In addition to Trakia Motorway, d.d., Paul Hastings is currently advising the governments of the Republic of Slovakia and the Republic of Croatia on a number of PPP motorway projects, valued at approximately $6 billion.”

Jonathan Simpson, Head of Paul Hastings European Projects Group said, “We are delighted to have helped Trakia Motorway d.d. and the Bulgarian Government successfully navigate the Eurostat minefield. We are also proud that our specialist advice has enabled the Trakia Motorway project to proceed.”

About Paul Hastings Global Projects Group: The Paul Hastings Global Projects Group is internationally recognized for the breadth and depth of its project finance capabilities. With more than 25 years of experience, Paul Hastings has one of the most experienced teams of project lawyers in the world. In the last few years, the Global Projects Group has represented clients in more than $40 billion of project transactions globally.

Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is a leading international law firm with over 1,200 attorneys in 18 offices. The firm serves a diverse client base including many of the leading global financial institutions and Fortune 500 companies and offers deep capabilities in capital markets, finance and restructuring, intellectual property, international arbitration and dispute resolution, investment management, labor and employment, mergers and acquisitions, private equity, product liability, project finance, real estate, securities litigation and tax advisory services. For additional information, please visit our website at www.paulhastings.com.