Dear Fellow Owners, We would like to extend our wishes for a very Happy, Healthy and Prosperous New Year to all owners. The year has started positively, with another victory in Bulgaria’s High Administrative Court. Please see our solicitor’s comments below our Newsletter. Statement from Iva & Co. “Our next newsletter will focus on the utility expenses of the complex, the most sensitive topic for all owners. We will provide details showing what portion of the costs comes from individual usage (covered by the daily communal fees) and what portion is generated by the common infrastructure needed to keep the complex running (covered by the annual maintenance fees)”. Furthermore, Iva & Co.’s contract clearly states that anything not covered by the MM fees becomes the responsibility of the owners who signed their contract.Additional utility costs, such as air conditioning (noted as a significant issue in Sigma where a quarter of the building lacks air conditioning), as these units were situated on an owner’s balcony deemed illegal by a Bulgarian court. Boyan was ordered to remove them and has done so. Similar cases from other owners are awaiting court decisions to have the AC units removed from their balconies.It appears Boyan is using his trusted minions to carry out his agenda. We advise all owners to resist selling their apartments, as they are being approached to sell at significantly reduced prices.Please check the prices Boyan is asking for in Phase 3 Aqua Vista, which is scheduled to open in 2027— when Phase 1 will be fully operational, unlike last year’s incomplete setup. Also, review the price list (ranging from €2,600 to €5,000 per sq. metre) for the new resort being built next door to the ETA building, which has already made progress. Links Happy New Year to everyone. We hope you had a restful break, but we know the recent emails from Ivalina Parusheva regarding 2026 fees have caused a lot of stress. We wanted to reach out to provide a clear update. We are making significant progress in the courts, but it is vital that we see through the latest “promises” being sent to our inboxes. We are pleased to report that another of our fellow owners has secured a major win in the Sofia Administrative Court (Decision No. 41703 dated 12.12.2025). The judge ruled that the Energy Regulator (KEVR) was wrong to dismiss our complaints. The court confirmed that the electricity company has a legal duty to connect our apartments. This confirms that our rights are recognized by both the Bulgarian Courts and the EU Commission. We can provide an online copy and translation of the decision for those which are interested. The EU Pilot Case The EU Commission is closely monitoring our situation. We have been advised to keep asserting our rights through the Bulgarian courts. Every victory here proves to the EU that the local bureaucracy is failing to follow European law, strengthening the case for a systemic solution. 3. Promises vs. Reality: The “Individual Contract” Trap In her latest newsletter, Ivalina Parusheva mentions “preparing for individual utility connections” as a priority for 2026. However, we must look at the facts: The Contradiction: If they truly intended to let us connect directly to the utility company, they wouldn’t be trying to lock us into 5-year private contracts for “management” through their own private infrastructure. The Power of Your Signature: A majority vote at a meeting cannot force you to sign a private deal. Under Bulgarian law, a contract is only due and enforceable if you personally sign it. Lack of Transparency: At the last AGM, representatives for the new old management Boyan’s people and Iva voted together as a single block. It looked a little bit like North Korea without the forced clapping. They interdicted to film or even to make photos. Though they were unable to answer direct questions from owners like Sean Collins, regarding whether collected funds in Eta would actually be used for necessary repairs in Building Eta. And this we all know is a major concern. How they are going to manage when they are unable to answer a simple question. It was not about details, it was a simple Yes, No question. 4. Our Legal Appeal We have already filed a lawsuit to overturn the decisions from the December 9th AGM. We are also asking the court to “freeze” these decisions so they cannot be enforced against us while the case is being decided. But even without this it is legally impossible to force you to sign contracts. Don’t let the “urgent” deadlines on these proforma invoices pressure you into a long-term commitment. We are planning an online meeting soon to discuss these legal steps and the 2026 fees in detail. |
