In issue 3/2023 of the European Company Case Law journal, Attorney Emanuil Damyanov Kolev published a case law commentary titled “The Conflicting Approaches of Bulgarian Courts to the Right of Shareholders to Convoke a General Meeting in Non-Listed Joint-Stock Companies.”
This case law commentary informs the European legal community about the general approach of Bulgarian courts to a fundamental shareholder right—the right to convoke a general meeting at the request of shareholders.
This right is crucial for investors, particularly as a safeguard against management entrenchment. Emanuil Kolev’s analysis highlights the divergent case law that has emerged from attempts by majority shareholders to remove and appoint directors in non-listed joint-stock companies.
Attorney Kolev notes that Bulgarian courts are increasingly adopting a more functional approach to this shareholder right—a positive trend for shareholder protection in Bulgaria.
The full text of the publication is available here.
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