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Sale of Bulgarian Heating Utility "Legal"
Business | September 17, 2004, Friday // 00:00
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Deyan Kavrakov, CEO of ADIS Ltd. claims the buyer is the legal owner of Ovcha Kupel utility and bears the responsibility for its halted operations. Photo by Yuliana Nikolova (novinite.com)
The Domestic Diplomatic Properties Agency defended Friday the legal sale of a local heating utility after its halted operations left people in a Sofia suburban area without hot water.
ADIS real estate agency, seller of the Ovcha Kupel utility, claimed that the new owner Tehem Services, a local power accountancy company, is responsible for the state of operation of the utility.
"The buyer, Tehem Services, offered the highest price for the utility, whose sale observed all legal regulations. The buyer is the legal owner of the utility and bears the responsibility for its halted operations," Deyan Kavrakov, CEO of ADIS Ltd. told journalists.
The station's normal work was halted, as the buyer refused to acquire the purchased assets, citing accounting reasons.
ADIS real estate agency underlined that it has repeatedly invited the buyer to get the assets and has offered access to all necessary information.
ADIS real estate agency, seller of the Ovcha Kupel utility, claimed that the new owner Tehem Services, a local power accountancy company, is responsible for the state of operation of the utility.
"The buyer, Tehem Services, offered the highest price for the utility, whose sale observed all legal regulations. The buyer is the legal owner of the utility and bears the responsibility for its halted operations," Deyan Kavrakov, CEO of ADIS Ltd. told journalists.
The station's normal work was halted, as the buyer refused to acquire the purchased assets, citing accounting reasons.
ADIS real estate agency underlined that it has repeatedly invited the buyer to get the assets and has offered access to all necessary information.
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