The Municipality of Plovdiv has no right to a blocking quota in “Paldin Turinvest” JSC, believes Nikolina Kirilova, lawyer of the businessman Georgi Gergov in the joint venture. Her opinion was made public with the minutes of the meeting of the General Meeting of Shareholders, which was submitted for information to the Municipal Council. At the extraordinary session on January 9, the majority in the local parliament of GERB and Authentic Left BSP decided to increase the capital of “Paldin Turinvest” through a non-monetary contribution of 16,314,400 shares of the municipality of Varna, transferred from the capital of “International Fair Plovdiv”. AD.
When disputing the decision of the General Assembly, which increased the capital from BGN 177,984,899 to BGN 194,299,299, the opposition councilors refer to Art. 516 par. 2 of the Law on Municipal Property. It gives the right to a blocking quota to municipalities in mixed companies.
However, attorney Kirilova points out that this amendment to the ZOS entered into force on January 1, 2018 and is effective only in the future, if the Municipality of Plovdiv submits a new contribution, and not retroactively. She reminds that “Paldin Turinvest” AD was established in 2006.
At the meeting on January 9, the shareholders voted at the General Assembly for the contribution of the municipality of Varna. The shares were transferred by the state free of charge with a decision of the Council of Ministers taken on 29.07. 2016, and were evaluated by three experts. The representative of the Municipal Council Yasen Mihailov also voted for the capital increase, as “Maritsa” wrote. He has fulfilled the decision of the Municipal Council of January 9, with which consent is given for a new partner – the municipality of Varna in “Paldin Turinvest”.
The shareholders in the company, apart from the municipality of Plovdiv, are “Bulinvest Plovdiv” AD and “Stariya Plovdiv” AD, represented by Georgi Gergov and Velichka Gergova, and “IAG Invest” OOD with manager Tsvetomir Gergov.
