Non-performance of monetary obligation in Bulgaria I part

Money are due on the acquisition of certain property (goods) or against the right to the enjoyment. With the amount of money most frequently are payed the development of a chattel or provided service. Salary (remuneration) also gets money. In currency debt “convert” and outstanding non-cash liabilities when seeking their realization through court. Damages from [...]

Failed election for Chairman of Supreme Court of Cassation of Bulgaria

After 8 – hours of electing procedure for Chairman of the Supreme Court of Cassation (SCC) and in less than two minutes vote, the Supreme Judicial Council failed to make a successful choice early today.

Nominations for Chairman of the SCC of Bulgaria

Supporting Judge Tanya Raykovska voted 15 members, six were “against”, [...]

Business Formations in Bulgaria I part

Possible business formations is a matter regulated under Bulgarian Commercial Act. There are situated the rules with regards of incorporation, management, relation between shareholders and managers, insolvency, bankruptcy, liability and so on.

Issues not addressed in the Commercial Act are redirected to the general civil legislation of the Republic of Bulgaria.

Starting a business in [...]

Directive 2011/7/EU or Combating Late Payment In Commercial Transactions

Directive 2011/7/EU of the European Parliament and of the Council

of 16 February 2011

on combating late payment in commercial transactions

(recast)

(Text with EEA relevance)

THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 114 thereof,

Having [...]

Statutory Interest Rates Overdue Payments – Bulgaria.

Of course and in Bulgaria on overdue payments may be charged interest rate. How can we determine these rates? Is there a formula?

Statutory interest is due when the debtor is in default. Bulgarian law determines when the debtor has fallen into default. It is different for the various types of commitments.

When the day [...]

Getting Bulgarian Citizenship

Coat of arms of Republic of Bulgaria

 

This matter is regulated by the Bulgarian Citizenship Act as the law defines the terms and conditions for the acquisition, loss and restoration of Bulgarian citizenship.

Bulgarian citizenship shall be governed also by the Constitution of the Republic of Bulgaria by law and by international treaties [...]

Corporate Debt Collection World Wide

A credit card, the biggest beneficiary of the Marquette Bank decision (Photo credit: Wikipedia)

Belcheva & Associates Law Office offers worldwide debt collection, but as close to the debtor as possible. Per country and per region, Belcheva & Associates Law Office is locally connected to debt collection specialists to support you in your international [...]

Looking For a Long-Term Partner In Bulgaria?

Are you planning to expand your business and are looking for a long-term partner in Bulgaria, who will support your operations? See in addition what we can do to support your business:

Professional and cost effective local Business Representation optimising your ability to win new business and retain existing business.

To help these companies and [...]

Preliminary Agreement

In the preliminary agreement the parties undertake to enter into another contract in the future. Preliminary contract may precede the conclusion of various agreements the most often used to arrange the sale of real estate.

Typically a preliminary contract is concluded when the parties need a longer time period to be bound by the final, [...]

Competition Law in Bulgaria

Bulgarian Competition Law is designed to protect and foster competition and free enterprise in economic activity. Over the years the law was repeatedly changed by the legislature to meet the requirements of economic life.

Bulgarian Competition law provides protection against agreements, decisions and concerted practices, abuse of monopolistic and dominant and all other acts and [...]