HC requires changes in the activity of companies with special investment purpose
HC requires changes in the activity of companies with special investment purpose
Group members offer fails to ban the special purpose vehicles securitising real estate, invest in other companies
Group members propose legislation governing the securitization of real estate and monetary claims (property rights or rights to monetary claims materialize securities offered to the public) in the Republic of Bulgaria, to eliminate the ban companies with special investment purpose securitising real estate to invest in other companies, as well as to remove the requirement that the claims which can be securitized, they are not subject to legal dispute.
It provides the possibility one third of the assets of the special investment purpose can be invested in other companies operating in the real estate market in the country. Discussed for protection of investors require companies that invest in construction companies use mandatory counseling for investments by licensed investment advisors.
Next, a draft Law amending the Law on Special Purpose Investment establishes requirements for the disclosure of information regarding the investments to ensure appropriate transparency and information to investors for assets subject to securitization and risk wear. In order to ensure investor protection, it is proposed statutes of the companies that securitized outstanding receivables, specifically provide for this, and the information that will be securitized outstanding receivables to be
Attorney at law Iuila Danova
#3, Dobrotica Str., Varna, Bulgaria
Mob: +359 895 64 59 40
WWW: advokatvarna.com
Email: iulia.danova@abv.bg