Bulgaria legislates away its cash economy instincts

May 3, 2011 - Kamen Shoylev

The New Act A new law (the Limits to Cash Payments Act 2011 (“LCPA”)) was enacted on February 22, 2011, and is already in force. LCPA mandates that payments must be made either by bank transfer, or by a deposit … Continue reading →

Recent amendments in the Commerce Act restrict eligibility for directorship by directors of insolvent private limited companies and others

February 23, 2011 - New Balkans Law Office, Sofia Office

Recent amendments (in force since the 15th of February, 2011) in the Bulgarian Commerce Act (“CA”) have created new provisions: arts 21 (3) 3, Art. 57(4) and art. 141(8) 8, CA. These introduce stricter requirements for the eligibility of procurators … Continue reading →