CHasten Sydeben Izpylnitel Velichko Apostolov

Enforcement agent Velichko Apostolov Law Firm Law firm Private Enforcement Agent Velichko Apostolov was established in October 2006. Annually the law firm handles about 1000 executive procedures and the percentage of successful collections is over 80%. The sum of the made collections in favor of natural persons and entities, bank and non-bank financial institutions, the state and counties since the founding of the firm until the end of 2009 totals to several million BGN. Based on experience in the youngest profession in Bulgaria – private enforcement agent, good practices were integrated in the law firm during last year. Thanks to this a more effective management of the team’s work has been reached on every court decision. Law firm Private Enforcement Agent Velichko Apostolov has annual internship programs for law students from Plovdiv University “Paisii Hilendarski”. The aim of the programs is to give the students practical skills, knowledge and experience in every stage of the enforcement process in a real work environment, also to give an idea about the workings of a PEA’s law firm. Enforcement agent Velichko Apostolov ACTIVITIES Services and procedures A private enforcement agent is an office bearer who the law empowers to conduct executive procedures for private and public collections in the territory of the respective District Court. Rights In his service the PEA has the following rights: to inventory the debtor’s property; to make inquiries; to acquire documents, portfolios etc.; to determine the method of execution; to safeguard the inventoried property; to manage secured property; to mediate in the agreement between the parties; to receive deposits; to hand over pledged property; to sell pledged property; to give court summons and documents. Enforcement agent Velichko Apostolov Procedures When presented with a writ of execution or another executive document the PEA: makes collections for natural persons and entities, and when assigned by the state – makes public collections as well; performs: transfer of ownership of immobile property to natural persons and entities, transfer of mobile property, executive actions against debtors who are obliged to perform a certain action; locks down property to secure the property of the debtor in the enforcement procedure; by the assignation of the pledgee transfers the ownership of the pledged property according to sec.35 of ZOZ (pledge law) in relation to GPK (code on civil procedure); by the assignation of the pledgee sells the pledged property according to ZOZ (pledge law) or GPK; seals rooms, equipment, vehicles according to sec.651 TZ (commercial law); mediates between the parties in an enforcement procedure. Enforcement agent Velichko Apostolov Rights and obligations of the parties Creditor - Rights To ask of a competent PEA to initiate an enforcement procedure based on an act that is to be executed. To ask of the PEA to undertake interim measures To empower the PEA to determine the method of execution (against property, collections, shares and stocks of the debtor). To ask of the PEA to impose a restriction on the debtor’s-natural person, travels abroad if the debt is over 5,000 BGN and the other legal requirements are met. To ask of the PEA as a pledgee to be transferred the ownership of the pledged property according to ZOZ (pledge law) of GPK. To appeal to court about the unlawful decisions of the PEA and the refusal to perform a lawful action. Creditor- Obligations To present the judicial act and other documents necessary for the initiation of an enforcement procedure. To pay the PEA all owed fees and expenses according to TTR of ZCSI (Tariff of Fees and Expenses of Law on Private Enforcement Agents). Debtor- Rights To consult a lawyer То contest the collection of the creditor when the writ of execution has been issued on an out-of-court basis by appealing to court and presenting convincing written evidence that the sum in question isn’t owed. To appeal to the PEA in relation to the unattachableness of the property against which the enforcement procedure is directed. To make an offer that the execution is made using only some of the methods proposed by the creditor or against a certain portion of their property. To appeal to court the wrong and unlawful actions of the PEA. To make a complaint in the Ministry of Justice or the Bulgarian chamber of PEAs about the unlawful or unethical behavior of the PEA. To appeal to court about the wrong and unlawful actions of the PEA and the refusal to perform a lawful action. Debtor - Obligations To comply with the decisions of the PEA Not to impede the enforcement procedure Not to manage the locked down property.