LM Legal Services Blog

Expat Properties Plc created for the purpose of buying land, is the first plc of this type in Bulgaria which has returned its license. The general shareholders meeting will take place on 8 June 2009 when it is expected that the shareholders of the company will take the formal decision for its liquidation. It is also expected that the shareholders will give a deadline of 6 months for the liquidation and will choose a receiver. The last deal of Expat Properties Plc was on 16 April 2008.

The management of the Bulgarian Stock Exchange survived the non-confidence vote after it received the support of the state at the shareholders meeting. The Ministry of Finance holds 44% of share capital of the stock exchange and rejected all proposals for the change of the management.