29.06.2021
We advised a client on his rights to influence and demand dividends distribution by a company he has a minority interest in. The position of the shareholder was complicated and rather unfavorable because of the existing Articles of Associations of the company that haven’t protected its minority rights. Last but not least Bulgarian law does not oblige companies to distribute profit which opens widely the door for misuse of company funds separated as undistributed profit to the detriment of minority shareholders. The existing resolutions of the Supreme Cassation Court were also perused for the purposes of the advice but did not back up the position of the client sufficiently.
