Release of sums deposited as security

Under Article 403 of the Bulgarian Code of Civil Procedure, the defendant may seek compensation from the claimant for loss caused by an interim measure if the secured claim is dismissed, if it is not brought within the time allowed to the claimant, or if the proceedings are discontinued. To obtain release of the security, the interested party files an application with a copy for the defendant. The defendant may object to release within one week of service of the application and bring a damages claim within one month of service. If the defendant neither objects nor brings a claim within those time limits, the security is released.

According to the binding interpretation in point 2 of the interpretative ruling in case No. 6/2014 of the General Assembly of the Civil and Commercial Divisions of the Supreme Court of Cassation, the court is not a third-party debtor under Article 508 of the Code. Without the account holder’s express consent, the sum cannot be released and transferred to the enforcement officer’s account to satisfy monetary claims, even in enforcement proceedings based on the final judgment in question (Supreme Court of Cassation Order No. 13 of 30 January 2020 in civil case No. 35/2019, Second Civil Division, Civil Chamber, reporting judge: Presiding Judge Plamen Stoev).

Point 3 of Interpretative Ruling No. 6 of 23 October 2015 in interpretative case No. 6/2014 of the same General Assembly gives a further binding interpretation. An order granting or refusing an application to release security deposited under Article 403(2) or, as applicable, Article 282(4) of the Code is not subject to appeal. It falls within neither category in Article 274(1): it does not prevent the proceedings from continuing and the legislature has not expressly provided for an appeal.

This article does not constitute a legal opinion or advice concerning a particular situation or person. For assistance with a similar case, consult a civil or commercial lawyer.