Bulgaria's Deputy Prime Minister and Finance Minister, Simeon Djankov, is taking over the management of the former royal palace Krichim to turn it into an art center.

The news was reported by the Bulgarian Standard daily.

At the beginning of June, the Bulgarian Supreme Court of Cassations (VKS) confirmed the rulings of two previous courts rejecting the claim of Bulgaria's former Tsar and Prime Minister Simeon Saxe-Coburg and his sister Maria-Louisa in the dispute over ownership of Krichim.

The palace will become a center for spiritual and arts advancement, managed by the Finance Ministry, and open for everyone.

Besides the hunting lodge, the palace, near the second largest city of Plovdiv, is known for its magnificent park. Mexican turkeys, pheasants, South American ostriches, rock partridges, grouse, and guinea fowl are all bred there.

Djankov plans to gather at the palace artists and archaeologists for plenaries and seminars.

"Krichim is the first royal estate the State was able to acquire back. We expect to have more soon," the Finance Minister says.

Saxe-Coburg's lawyer, Eli Hristova, says the family is far away from reconciling with the loss, and will sue Bulgaria in Strasbourg in the fall.