Bulgaria to Open 2 New Refugee Shelters
The Bulgarian government has decided Wednesday to open two new refugee shelters for asylum seekers.
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
The deadline for shareholders of the troubled steel-maker Kremikovtzi to make a final decision on the recovery plan proposed by the assignee in bankruptcy expires on November 9.
The bondholders already rejected once, at the end of October, the recovery plan, which calls for converting their claims into equity capital, a change in the terms of the bond contract, which needs the nod of investors holding 75% of the issuance to pass.
A month ago the administrator Tsvetan Bankov invited all creditors to decide on whether they wanted to capitalize the money the factory owns them. According to the replies, the creditors wanted to transform into shares debts totaling BGN 1,6 B.
Should the creditors reject the rescue plan for the struggling company once again, the company businesses will be wound up and its assets – offloaded.
The total debts of Bulgaria’s former largest steel-maker amount to BGN 1,9 B, whereas the market value of all of its assets has been estimated at BGN 837 M.
The creditors of the steel plant include the state-owned gas provider Bulgargaz, the state power utility NEK and the railway operator BDZ.
The sprawling communist-era behemoth near Sofia was declared insolvent in August last year. It is a big source of pollution and urgently needs re-furbishing.
Kremikovtzi, one of Bulgaria's biggest companies, provides jobs for over 5 000 people and its future was a politically sensitive issue ahead of the general elections in the summer.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Online sports betting has taken the world by storm, offering enthusiasts an exciting way to engage with their favorite sports.
In response to the ongoing war between Russia and Ukraine, the European Commission has greenlit a significant aid package for Bulgarian farmers, totaling approximately 86.9 million euros
If you compare today's casino experience with two decades back, you can tell that a lot has changed.
Game distributors and casino sites want to be as accessible and user-friendly as possible.
The early decades of the 21st century have presided over huge changes in both society and technology, so much so that it is difficult to imagine what parts of the world today will survive to be distilled into the history books.
Farmers' protests in Bulgaria show no signs of abating as over 20 agricultural organizations demand an urgent meeting with Prime Minister Nikolai Denkov
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022