Date: 13.08.2018

Readed: 1219

The crash of the Commercial Register was defined as extremely alarming by the Bulgarian Industrial Association. It is a matter of systematic problems, which should be analyzed. BIA demands for the reasons to be publicly announced, quickly resolved and not cause any loss of information.

Maria Mincheva, Legal Adviser, BIA:

To a large extent, it creates a real risk of blocking day-to-day trading - bank lending, notary deals. There is no possibility of entering any new circumstances, which, for a number of companies, could mean impossibility to carry out their business if, for example, they do not have a registered manager. It is important to understand the nature of this technical malfunction, is there unauthorized access to the documents contained in the company accounts, is there a risk of loss or manipulation of the information, what the consequences will be. We hope that the state will respond adequately to the situation and will not allow the imposition of sanctions on traders and non-profit legal entities.”

Unfortunately, we are yet again witnessing problems in the functioning of the Commercial Register, which impede its main purpose. At the beginning of the year the activity of the register was again blocked due to the publication of the declarations of inactivity of the enterprises that did not operate in the past year. It seems to be a matter of systemic problems, which should be thoroughly analyzed by the responsible institutions.