Close this search box.

Spasov & Bratanov successfully defended an individual against a claim for invalidity of the contract, on the basis of which this individual acquired interest in a limited liability company. The claim was brought against our client by the seller, who transferred the interest at its nominal value (i.e. that is the value recorded in the Commercial Register). Several years after the transfer, the seller challenged the transaction at court as contrary to the good morals due to significant difference between the agreed price and the actual value of the interest. With regard to the calculation of the actual value of the interest, the main issue under the dispute was whether the specific shareholder loan, provided by the seller to the company in the form of additional monetary contribution (in Bulgarian: допълнителна парична вноска), shall be regarded as equity (or not) and if this contribution shall be taken into account for the purpose of the calculation of the net value. The court upheld the arguments of our client that the monetary contribution of the shareholder shall not be considered as equity and in result the client kept his interest and the capacity of a shareholder in the company. Kremena Yaneva-Ivanova, Senior Associate, advised and represented the client on this matter.

Date: August 2023

Source: Spasov & Bratanov Lawyers’ Partnership

More Posts

Spasov & Bratanov advised AES Global Power Holdings B.V, a subsidiary of AES Corporation, the largest investor in the energy field in Bulgaria and one of the largest independent global

Read More »

Spasov&Bratanov Lawyers’ Partnership successfully defended a private individual against a claim for forfeiture of property alleged to be illegally acquired. The Supreme Court of Cassation rejected the claim totaling of

Read More »

Spasov & Bratanov Lawyers’ Partnership assisted Boleron – the innovator of the insurance industry in Bulgaria – in the course of its IPO – the first successful IPO on the

Read More »

Spasov&Bratanov Lawyers’ Partnership was successful for TUI in litigation on the annulment of transfer of commercial enterprise, aiming to prevent the creditors of the sole owner of the transferor to

Read More »