• Analysis Of Problems Related To The Admission Of The Security Measure "Distraints On Bank Accounts" By Consecutive Imposing Of Distraints
  • December 2, 2015
  • Law Firm: Dimitrov Petrov Co. - Sofia Office
  • The security measure ‘distraints on bank accounts’ is often applied by the court under the condition that the distraint should be imposed consecutively from bank to bank, where the distraint is imposed on another bank account only after ascertaining insufficiency of funds in the first one for payment of the debt. On the one hand, this manner of proceeding aims at protecting the interest of the debtor, but on the other hand, it poses many risks for the creditor and its chance to receive adequate protection of its rights.