The shares, subject to in-kind contribution by the Municipality of Varna to “Paldin Turinvest” JSC, representing 29% of the capital of „International Fair Plovdiv“ JSC, have been seized, the Ministry of Economy and Industry /MEI/ announced. Thus, for the time being, the state’s shares in the Plovdiv Fair cannot be transferred to the private company until the end of the legal dispute.
The court allowed security for the claim filed by the State, acting through the Ministry of Economy and Industry against the Municipality of Varna, by imposing a lien on 16,314,400 registered dematerialized shares from the capital of „International Fair Plovdiv“ JSC.
„Protecting public interest and state property is only the first step. We must revive the potential of the Fair and ensure its efficient management from now on,“, Minister Bogdanov commented.
Minister Bogdan Bogdanov, upon taking office, ordered a full analysis of all possible legal actions by the Ministry of Economy and Industry in the case of the Plovdiv Fair, so that the state interest is protected. Following the analysis, the Minister was instructed by a decision of the Council of Ministers to take all possible actions.
A case with two claims was filed by the Ministry of Economy and Industry. A request was filed to stop the registration of the contribution of the Plovdiv Fair shares by the Municipality of Varna shares to „Paldin Turinvest“ and a special request was made – to allow collateral for the claim by seizing the shares.