Bulgaria’s Caretaker Prime Minister: CEO of Registry Agency Will Be Replaced
The caretaker government will replace the CEO of the Registry Agency Gabriela Kozareva.
A Monday letter of Denis Ershov to the media produced a new episode of the prolonged shareholder battle over Petrol Holding, a major fuel company in Bulgaria.
Ershov, a Russian national and co-owner of Petrol Holding, responded to a July 07 media assault of his rival, Mitko Sabev, focusing on the distant form of address of "foreign citizen Denis Ershov" and condemning Sabev's allegations that he attempted to "steal the company" through extensive manipulation of the law.
Ershov's statement also includes feedback from his lawyer asserting that Sabev's accusations are unfounded and reactionary and will be totally disregarded in the future.
On July 07, Sabev insisted that Ershov and his representatives had met with a number of notaries in a bid to negotiate the legalization of a false circumstance, namely the conduct of a general shareholders meeting.
"The motives and the goal of these actions are similar in nature to a spate of other steps taken by Denis Ershov- they seek to illegitimately replace the fully legitimate governing bodies of the Holding and to take over the company in an absolutely criminal way", Sabev insisted.
The scandal between Sabev and Ershov dates back to July 2010, when the controversial Russian businessman accused Sabev of representing him without due authorization at a meeting of the Supervisory Board which was reportedly held according to unannounced agenda.
Since then, the dispute between the two has been immensely aggravated, with Sofia and Varna-based courts handling numerous court actions brought by Sabev and Ershov.
Embezzlement charges involving different figures, as well as document fraud charges, have often been exchanged between the two high-profile businessmen.
The scandal has involved Bulgaria's Registry Agency, which has come under fire for "selectively" registering amendments to the company's file under external pressure.
In another episode of the saga, Petrol's bank accounts were misreported as frozen by court.
Bulgaria's Ministry of Justice stepped in to disprove the information released by Mitko Sabev.
At that time, the main point of contention was the legitimacy of the appointment of Ivan Kutevski as executive director of Petrol Holding AD.
In yet another episode of the court battle, the directors of Petrol Holding and its subsidiaries Petrol AD and Naftex Petrol, Orlin Todorov, Svetoslav Yordanov and Yordan Georgiev were temporarily removed from their posts.
The reason for the suspension of Petrol's executives was a trial initiated by Denis Ershov over alleged serious monetary damage inflicted to Naftex Petrol and Petrol Holding.
The long-standing shareholder feud is not likely to end soon, Bulgarian legal experts have said.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Eurostat's latest findings have shed light on the shifting landscape of household energy prices in the European Union, with Bulgaria emerging as a frontrunner in affordability.
The Nuclear Regulatory Agency (NRA) has greenlit the phased transition to a new type of nuclear fuel for Unit 5 of Kozloduy Nuclear Power Plant (NPP), manufactured by Westinghouse
In a bid to enhance its energy security and diversify its gas supply sources, Bulgargaz is gearing up for the first deliveries of liquefied gas through the Alexandroupolis terminal, set to commence in May
The Greek national electricity company, PPC, has announced plans to acquire 500 megawatts of photovoltaic capacity in Bulgaria
Oil prices have surged due to renewed concerns about the Middle East conflict. Brent crude futures increased by 0.32% to 90.80 USD per barrel, while American WTI crude rose by 0.3% to 86.50 USD per barrel
Bulgaria's state-owned energy company, "Bulgargaz," has suffered a significant setback, losing 27% of its market share as a result of a contract with the Turkish company "Botas"
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022