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 BGN 175,205.95 in its entirety due to the failure of the claimant – the Commission for Forfeiture of Illegally Acquired Property, to establish and prove significant discrepancy between the property held at the beginning and at the end of the period under review. The court decision is in line with Interpretative Decision No 4/18.05.2023, according to which money passing through bank accounts which is not available at the same bank accounts at the end of the period under review is not subject to forfeiture and does not constitute ‘property’ within the meaning of the law, and accordingly shall not be taken into account when the amount of discrepancy is being determined.
The client was advised and represented by our name Partner – Boyko Bratanov.
Date: April 2024
Source: Spasov & Bratanov Lawyers’ Partnership