Nikolay Yonkov: Gergov Stole TV 2

Society | July 31, 2008, Thursday // 00:00
Nikolay Yonkov: Gergov Stole TV 2: Nikolay Yonkov: Gergov Stole TV 2 Nikolay Yonkov, who still owns 20% of the Bulgarian channel Top TV, stated Thursday that has been robbed of TV 2 by Krasimir Gergov Photo by Nadiya Kotseva (Sofia Photo Agency)

Nikolay Yonkov, who still owns 20% of the Bulgarian channel Top TV, has been robbed of TV 2 by Krasimir Gergov, according to Yonkov's statements during a special press conference Thursday.

Yonkov accused Gergov of fraud and theft of over USD 200 M.

Wednesday the Central European Media Enterprises announced that they have purchased TV2 for USD 172 M.

According to Yonkov's claims, the saga had begun four years ago when he signed an agreement with Gergov and the "Technostyle" company to sell them 80% of the shares of Top TV for the fictitious amount of BGN 5,000.

An addendum had to be signed at the time with Gergov for future financial compensation. There has also been a verbal agreement to develop Top TV and to turn the future TV 2 into a national media with regional stations in different Bulgarian cities to be managed by Yonkov.

The agreement has been made due to an open dept Yonkov had with TIM, according to Yonkov's own statements. At the time the "Technostyle" company, controlled by Gergov, had obtained a bank loan to pay the dept and 80% of Top TV's shares remained in Gergov's company.

According to the agreement, 20% of the shares were left in Yonkov's possession, but Gergov's further actions had limited his rights over the shares.

"Gergov wants to legally terminate Top TV," Yonkov stated at the press conference.

Yonkov had filed three suits against Krasimir Gergov while the third one, namely against Gergov's attempts to liquidate Top TV has been won by Yonkov before two institutions.

The first two lawsuits for the transfer of the company and the transfer of shares have been returned back to the Court for re-examination and there were no decisions yet.

Yonkov also stated at the press conference that he had received treats and lucrative offers by Gergov Wednesday evening to force him to cancel the press conference.

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