The Bulgarian Entrepreneur Tzvetan Vassilev is No Longer Wanted by Interpol
The defendant Tsvetan Vasilev is no longer wanted by Interpol, the information was confirmed for BTA by Vasilev's lawyer Konstantin Simeonov
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
Lawmakers in Bulgaria have voted to approve on second reading changes to the Bank Insolvency Act paving the way for the publication of a report tracking the assets of insolvent Corporate Commercial Bank (Corpbank or KTB).
Until now the text was only available in Parliament's secret registry, which was not accessible to the general public but only to lawmakers.
Instructions on receivables collection offered in the report will not be disclosed to avoid disruption of the work of receivers.
KTB collapsed following a bank run in June 2014 which pushed the Bulgarian National Bank to place it under supervision.
The publication of the document has been highly controversial among politicians, but has also drawn fire from UK-based consultancy AlixPartners which was tasked with authoring it under clauses of strict confidentiality.
AlixPartners' agreement to lift secrecy was limited only to access by lawmakers, which resulted in Finance Minister Vladislav Goranov sending the report the the secret registry of Parliament where it was available for MPs.
However, legislation changes authored by lawmakers Petar Chobanov, Yordan Tsonev and Delyan Peevski (all from liberal Movements for Rights and Freedoms, or DPS, party) obligate KTB's trustees to upload the report on their website.
Tsonev has reiterated for months that the DPS is committed to a process of "unveiling the whole truth" about KTB.
But his fellow lawmaker Peevski has been linked in a number of media reports to the bank's collapse, which occurred soon after the fallout between Peevski and the bank's majority owner Tsvetan Vasilev with whom the former was said to be involved in a number of joint business ventures.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
In order to protect the economic interests of consumers, there will be a period of double labeling of the prices of goods and services - in leva and in euros
As Bulgaria inches closer to joining the Eurozone, concerns arise over the implementation of rounded prices in euros, potentially impacting citizens' wallets upon adoption of the single currency
On a briefing held at the National Press Club of BTA, Nikola Ilchev, the creator and organizer of the Balkan eCommerce Summit, showed projections indicating a significant rise in Bulgaria's e-commerce sector
The Ministry of Finance in Bulgaria has revealed that the process to facilitate the exchange of levs with euros in the country will come with a hefty price tag, estimated to be at least BGN 500 million
As Bulgaria steers towards adopting the euro, economists dispel concerns over potential price increases, assuring the public that the impact on inflation will be minimal
The Ministry of Finance has released a draft law for public discussion concerning the adoption of the euro in Bulgaria. The primary aim of the proposal is to ensure a smooth and transparent transition to the European currency
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022