DISPUTABLE ISSUES IN CONNECTION WITH CAPITAL REDUCTION (ABOUT FORFEITURE OF SHARES UPON EXPULSION OF A SHAREHOLDER AND THE MOMENT UPON WHICH CAPITAL REDUCTION BECOMES EFFECTIVE) Cover Image
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СПОРНИ ВЪПРОСИ ВЪВ ВРЪЗКА С НАМАЛЯВАНЕТО НА КАПИТАЛА (ОТНОСНО „КАДУЦИРАНЕТО“ НА АКЦИИ ПРИ ИЗКЛЮЧВАНЕ НА АКЦИОНЕР И МОМЕНТА, В КОЙТО НАМАЛЯВАНЕТО НА КАПИТАЛА ПОРАЖДА ДЕЙСТВИЕ)
DISPUTABLE ISSUES IN CONNECTION WITH CAPITAL REDUCTION (ABOUT FORFEITURE OF SHARES UPON EXPULSION OF A SHAREHOLDER AND THE MOMENT UPON WHICH CAPITAL REDUCTION BECOMES EFFECTIVE)

Author(s): Zlatka Vangelova
Subject(s): Law, Constitution, Jurisprudence, Civil Law, Commercial Law
Published by: Институт за държавата и правото - Българска академия на науките
Keywords: Invalidation of shares; forfeiture; capital reduction; “Reserve” fund; decision of a general meeting entering in force; a moment upon which capital reduction becomes effective

Summary/Abstract: This article deals with two disputable issues. The first one concerns expulsion of defaulting shareholders. The author argues against the prevailing opinion that expulsion does not necessarily require capital reduction. The second issue concerns the moment upon which capital reduction becomes effective. The author accepts and proves that the inscription in commercial register under art. 231, para. 4 of Commerce act has a constitutive effect towards everyone.

  • Issue Year: LXV/2023
  • Issue No: 2
  • Page Range: 28-49
  • Page Count: 22
  • Language: Bulgarian