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Commenting article: KTB Majority Owner Appeals Banking Licence Withdrawal

The majority shareholder in Bulgaria's collapsed Corporate Commercial Bank, or KTB, has appealed the central bank's decision to scrap KTB's banking licence, frognews.bg reported on Wednesday.

Bromak, a company owned by Tsvetan Vasilev, is KTB's majority shareholder. The appeal was filed with the Supreme Administrative Court (SAC).

According to unnamed sources, other shareholders and many depositors in KTB have also submitted appeals against the central bank's decision with SAC, the media outlet said.

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#1
Philippe - 20 Nov 2014 // 03:15:30

Novinite, I couldn't find this news on frog... URL?

#2
Philippe - 20 Nov 2014 // 02:39:44

I think Mr. Vasilev should present himself to the BG prosecutors and explain where the 4.5 B is. And if he cannot recover this money, he can enjoy a BG prison.

Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria