Възможно ли е, вместо да изплати дивидент, акционерно дружество да прехвърли свой имот?
Is it possible a joint-stock company to transfer a real estate of its own to a shareholder, instead of paying him a dividend?

Author(s): Zlatka Vangelova
Subject(s): Law, Constitution, Jurisprudence, Civil Law, Commercial Law
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: dividend; datio in solutum; non-cash asset; real estate; IFRIC 17; net assets; fair value
Summary/Abstract: The right of a shareholder in a joint-stock company to collect his dividend always occurs as a pecuniary receivable. It can be terminated by an agreement of datio in solutum, concluded between the shareholder and the company. The consent of the rest of the shareholders for conclusion of such agreement is not required. If the non-cash asset, by the transfer of which the dividend payment is terminated, is a real estate, there shall be applied IFRIC 17; according to IFRIC 17 the real estate shall be measured at its fair value. The rules of IFRIC 17 and art. 247a, para. 1 and 3 of the Commerce act are compulsory. If violated, they will lead to nullity of the datio in solutum agreement. The grounds for nullity are different and they depend on the specific rule violated.

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