Our latest thinking on the issues that matter most in business and management.
Everyone concludes at least one insurance contract in their lifetime – to protect their home, car, or life, or to ensure coverage of health expenses when traveling abroad. Most people are familiar with the main characteristics of the insurance contract – it is concluded in writing, most often in the form of an insurance policy, the general terms and conditions of the insurer apply to it, the policyholder has obligations to declare certain circumstances (the so called circumstances affecting the risk) and to pay a premium. In their turn, the insurer has one main obligation – to pay indemnity upon occurrence.
When it comes to cross-border debt collection, a range of impediments of a juridical, organisational or financial nature may occur. The Bulgarian preliminary security procedure, however, is rather creditor-friendly. In contrast to many foreign jurisdictions, a debtor’s assets in Bulgaria can be blocked without any prior notice to the debtor. Such an approach undoubtedly puts the creditor in quite an advantageous position. Moreover, this blocking result can be reached by means of a prompt and relatively cheap procedure.
In the modern globalised business environment, issues of corporate cross border transformations increase in significance. Such processes entail a complex range of problems, including corporate, tax, employment, regulatory, etc. which need to be analysed and considered accordingly. The present text is focused on one of the main aspects of cross border transformations, in particular: Does the Bulgarian legislation in general allow any transformations with participation of a company established outside the European Union and the European Economic Area?
Desislava Krusteva comments on the new existing mechanism for data transfer in the United States - the so-called EUU. S. Privacy Shield, adopted by the European Commission on July 12, 2016. The new agreement aims to regulate the exchange of data between data controllers in the European Union and in the United States of America (USA). *This publication is in Bulgarian.
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