За характера на отговорността на управителя на дружеството с ограничена отговорност
On the Nature оf Liability оf the Manager оf а Limited Liability Company

Summary/Abstract: The manager is an authoritative representative of the Limited Liability Company (LLC) and in this capacity he/she has unlimited power of representation. His/her main role is to manage and represent the company in its commercial transactions, carrying out all the necessary legal and factual activities to that effect. Ultimately, the manager is the person whose activity is decisive for the company’s commercial realization in a competitive business environment. Therefore, the issue of liability ensuing from his/her potential failure to perform these obligations is of primary importance for the successful participation of the company in the realm of commerce. The topicality of the issue is determined by the fact that the conditions for realization of this liability follow the strictly established provisions of the Bulgarian Commercial Act, which must be cumulatively available for the liability to achieve its goals, on the one part, and to ensure that the rights of the managerial body will be guaranteed, on the other. Besides purely theoretical, these matters have great practical importance determined by the objective public necessity for clear and accurate setting of the limits of the liability of a manager. The purpose of this article is to characterize the manager’s liability and to clarify the limits thereof. The author makes theoretical analysis of the attributes of liability in the light of legal regulations, the different theoretical opinions and the judicial practice. On this basis, the main focal points are outlined and concrete conclusions are drawn.

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