REGULATION (EC) NO 593/2008 (ROME I) AND THE UN CONVENTION ON CONTRACTS FOR INTERNATIONAL SALE OF GOODS (VIENNA CONVENTION OR CISG) – BRIEF ANALYSIS OF THEIR SCOPE OF APPLICATION
Contractual relationships with an international element (that part of the relationship which links it with the legal systems of two or more countries) are a means for the implementation of the civil and commercial turnover that itself has long outgrown the boundaries of individual countries. The cross-border nature of these relationships poses the question of the applicable law – i.e. the...
FESTIVE PHILHARMONIC CONCERT IN CELEBRATION OF THE DAY OF SOFIA
Festive Philharmonic Concert in celebration of the Day of Sofia held on the 16th September 2012 at the Bulgaria Concert Complex under the patronage of Ms. Yordanka Fandakova, the Mayor of Sofia and the Culture 2012 Program of Sofia Municipality. The concert is co-financed by Law Firm Tascheva & Partner in support of the nomination of Sofia for European Capital of Culture 2019.
THE ARBITRATION COURT AS AN ALTERNATIVE TO THE STATE COURT PROCEEDINGS
The Arbitration Proceedings offer a quick and effective procedure for the hearing of civil and commercial disputes. The Arbitration Court being a voluntary means of resolution of property disputes which the Parties cannot amicably settle between themselves has established itself as an alternative to the State court proceedings. Object of arbitration proceedings may be any civil or commercial...
MEASURES AGAINST THE LAUNDERING OF MONEY IN THE INSURANCE BUSINESS
As a member of the EU, Bulgaria has introduced all the significant norms of the EU law in its internal legislation. The Anti-Money Laundering Act stipulates a number of obligations affecting a considerable number of addressees, a big part of which are legal entities. The circle of these legal entities includes all insurers and registered insurance agents.
AMENDMENT OF THE PUBLIC PROCUREMENT ACT
Repeal of the Regulation on the Award of Small Public Contracts The amendments to the Public Procurement Act repeal the Regulation on the Award of Small Public Contracts in order to reduce the number of different types of procedures for assignment of public contracts. The procedures which until now were assigned under the repealed Regulation are now regulated by the Public Procurement Act.
TRADE BANKRUPTCY IN BULGARIA: LEGAL PROBLEMS IN DEFINING THE STARTING DATE OF THE BANKRUPTCY
From the standpoint of legal theory the principle valid in bankruptcy is as follows: the moment the merchant falls into bankruptcy, respectively over-indebtedness – all his creditors form a particular group, namely that of the bankruptcy creditors of the debtor. It may well be the case that some of the creditors have found out about their debtor’s bankruptcy only after the opening of the...
CROSS-BORDER TRANSFORMATION OF TRADING COMPANIES WITHIN THE EU
Trading companies long since have passed beyond the borders of countries in which they have their registered office, central administration and principal place of business. Internationalization is gaining ground both in the sphere of activities and in the structure of the companies pursuing the increase of their profits and has put on the agenda the question of their correct and advisable...
THE MOST RECENT AMENDMENTS TO THE LAW ON RENEWABLE ENERGY SOURCES
At the end of 2011 a second bill was introduced into parliament for the revision of the Law on Renewable Energy Sources. On 28th March 2012 the amendments in the law were voted at second reading, and they will be published in the State Gazette. What essentially are the amendments: Amended is the moment of determining the preferential purchase price of the electric energy produced from RES...
THE NEW DOUBLE TAX AVOIDANCE TREATY WITH AUSTRIA
The new Double Tax Avoidance Treaty with Austria came into force as of 3 February 2011. The Treaty applies to taxation at source of profits made on and after 1 January 2012. Concerning other types of taxes, the Treaty is applicable as of 1 January 2011. In contrast with the old treaty, the new Double Tax Avoidance Treaty with Austria entirely follows the structure of the Tax Convention Model...
ON SOME ASPECTS OF THE ENVISAGED TAX ON FINANCIAL TRANSACTIONS
As is well known, as a result of the financial crisis ЕU’s two major member states – France and Germany exerted pressure on the European Commission to introduce the so called tax on financial transactions. Consequently, on 28th September 2011 the European Commission presented a proposal for a Council Directive for a common system of financial transaction tax and amending Directive 2008/7/EC.