НАСЛЕДЯВАНЕ И СЪПРИТЕЖАНИЕ НА АКЦИИ. УПРАЖНЯВАНЕ НА КОЛЕКТИВНИТЕ ПРАВА НА АКЦИОНЕРИТЕ ПРИ НАСЛЕДЯВАНЕ
INHERITANCE AND CO-OWNERSHIP OF SHARES. EXERCISING COLLECTIVE SHAREHOLDER RIGHTS IN CASES OF INHERITANCE

Summary/Abstract: The absence of special provisions in Bulgarian legislation on inheritance of shares has given rise to a number of conflicting opinions in the legal doctrine and judicial practice. In this context, the present paper aims to propose a unified and predictable approach to the issues of establishment and exercise of shareholder rights of heirs, based on an analysis of the legal nature of shares and examples from comparative law. Furthermore, the paper analyses the issues of co-ownership of shares, exercise of shareholder rights in cases of co-ownership, termination of co-ownership and dispute resolution among co-owners. The paper argues that a simple majority among co-owners is sufficient for exercise of individual shareholder rights. In contrast, regarding the exercise of collective shareholder rights, the paper argues that the indivisibility of shares allows each co-owner to independently exercise the collective rights for co-owned shares.

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