The order of the Court of Appeal, as the second instance in the interlocutory proceedings, is final and not subject to appeal
In the case filed by the Minister of Economy and Industry Bogdan Bogdanov before the Sofia City Court, the second special request for seizure of 16, 314,400 registered dematerialised shares of the capital of International Fair Plovdiv AD was confirmed. The order of the Court of Appeal, as the second instance in the interlocutory proceedings, is final and not subject to appeal.
The measure was admitted earlier by the Sofia City Court to secure the claim brought by the State, represented by the Minister of Economy and Industry, against the Municipality of Varna for recognition of the State’s ownership of 16,314,400 registered dematerialised shares. The latter represent 29% of the capital of International Fair Plovdiv AD.
“The state should keep its ownership in Plovdiv Fair, but also work for the development of the company. The International Fair – Plovdiv is not effectively managed, so the Ministry of Economy and Industry is focused on developing a strategy for its development,” said Bogdan Bogdanov.
We remind that at the beginning of June the Minister of Economy and Industry ordered a full legal analysis of the case with the Plovdiv Fair. Later, by its decision, the Council of Ministers instructed it to carry out all possible actions to protect the state interest. In mid-July, a claim was filed for recognition of the State’s ownership of the shares, and to date both special requests have been granted by final orders: to suspend the entry of the transfer in the Commercial Register and to impose a seizure on the shares.