Q: How is the management of a complex regulated? What do I need to be aware of? [Condominium Act etc]
The Bulgarian Condominium Management Act (“CMA”) is a statute which regulates relations between owners in a development. The owners may have also approved a governing document which further fleshes out the way in which the running of the development is organised.
By law, the owners of units in a property development can use the common areas of the development and share in their management. Each owner has a right to enjoy his property without interference from the others.
According to art. 6 CMA, owners must also:
- not cause damage to other properties within the development and common areas;
- avoid causing more than minimal inconvenience to other owners or occupants;
- not tamper with any part of the development (whether buildings, shared areas, etc.) intended for general use;
- comply with the resolutions of the governing bodies of the development;
- cover the cost of repairs, reconstruction and renovation of the common parts, its facilities and equipment, and contribute to a fund for the "repair and improvement" of the development, in proportion to their share of the commonhold;
- bear the cost of the management and maintenance of common parts;
- comply with health and safety regulations and standards of hygiene;
- provide access to their own property or parts thereof, if necessary for the investigation of, design and planning of, or conduct of repairs, renovations etc, as above.
Typically, the General Assembly of Commonhold Owners chooses a Manager (which in larger developments may be a maintenance company co-owned by all unit owners or set up as a business), such Manager running the day-to-day affairs of the development.
Asset tracing and fraud: Use of evidence from parallel criminal proceedings in a civil trial
Over the last year, we have assisted the victims of a multi-million dollar large-scale international fraud. Certain of the scheme’s operations were embedded in Bulgaria’s thriving business process outsourcing (BPO) ecosystem.
As part of our representation for clients, we have pursued a claim in a regional Bulgarian court (the organisers of the fraudulent scheme having transferred the registration of the relevant entity to a disused building in that location). We were pleased to obtain a very helpful intervention from the court at first instance including an order to append files containing a substantial amount of evidence generated through a criminal investigation into the fraud to the civil case. This provides rich evidential pickings for proceedings which are either already being conducted or are being contemplated in a range of international jurisdictions as well as Bulgaria.
© New Balkans Law Office 2018