Corporate Commercial Bank Begins Payments to Creditors After 10-Year Bankruptcy
Trustees of Corporate Commercial Bank (CCB), currently in bankruptcy, announced the commencement of payments to creditors starting at 09:00 on November 5, 2024
NY Times: As Support for EU Flags Elsewhere, Bulgaria Sees Its Benefits
Views on BG | January 17, 2017, Tuesday // 14:47
- Tweet
Send to Kindle
Asset holders affected by the run and subsequent insolvency of Bulgaria's KTB bank managed to receive their deposits, partly due to pressure from the EU on the government in Sofia. File photo
Bulgarians have benefited a lot from their EU membership, with incomes rising and Brussels overseeing politicians, according to a New York Times piece.
Amidst the wave of EU skepticism, Bulgaria is benefiting from free trade, work and travel across the bloc, the impact of EU funding, and EU monitoring on corruption and organized crime.
The text also recalls the 2014 bank run at Corporate Commercial Bank (Corpbank or KTB), then Bulgaria's fourth-largest lender, which endangered the assets of thousands of account holders, but the EU pushed for the fulfillment of a government guarantee on depositors' savings.
"Both the EU Commission and the European Banking Authority then opened investigations into whether Bulgarian authorities had breached regional law by delaying payouts," with the government starting to pay to avoid formal charges.
"Businesses also benefit from Brussels's acting as a bulwark against Bulgaria's politicians," the text goes on.
Related Articles:
The Bulgarian Entrepreneur Tzvetan Vassilev is No Longer Wanted by Interpol
The defendant Tsvetan Vasilev is no longer wanted by Interpol, the information was confirmed for BTA by Vasilev's lawyer Konstantin Simeonov
Crime | August 10, 2022, Wednesday // 14:15
New York Times: Thousands of Civilians Killed in US Drone Strikes
False intelligence, imminent collateral damage and thousands of civilians killed: The New York Times has published a shocking investigation into the US military's drone strikes in its war against jihadist groups in Afghanistan, Iraq and Syria.
World | December 19, 2021, Sunday // 11:49
The White House Suspends New York Times and Washington Post Subscriptions
The White House has said it is preparing to end its subscription to the New York Times and Washington Post for government agencies.
World | October 25, 2019, Friday // 15:23
Bulgaria Reluctant to Seek ECB Scrutiny Before Euro Entry
Bulgaria, which is seeking to cement its path to euro adoption this year, said it has no plans to join Europe’s banking union before switching to the common currency.
Mexican Billionaire Carlos Slim Sells Part Of His New York Times Stock
Mexican multi-billionaire Carlos Slim has sold USD 10 million worth of shares from New York Times.
Business | August 2, 2017, Wednesday // 11:19
'Bulgaria Phone Scammers Rob, Blackmail Elderly'
Brazen Bulgarian gangs "terrorise the elderly and rob them over their life savings with increasingly aggressive phone scams nettling millions of euros," according to an AFP story.
Views on BG | February 27, 2017, Monday // 13:59
NY Times: Bulgaria Grows Uneasy as Trump Complicates Ties to Russia
The prospect of US President Donald Trump's moving closer to Russia has scrambled the strategy of "balancing East and West" used for decades by countries like Bulgaria, the New York Times says.
Views on BG | February 5, 2017, Sunday // 11:17
DW: German Businesses Prefer Trade with Bulgaria over Investment
German businesses prefer to trade with Bulgaria rather than invest into the country, an article on DW Bulgaria's website argues.
Views on BG | January 2, 2017, Monday // 14:32
The Economist: Bulgaria, Moldova Presidents 'Less Pro-Russian Than Advertised'
The truth about Bulgaria and Moldova's presidential elections is "more complicated" and should not be reduced to pro-Russian candidates winning, the Economist says.
Views on BG | November 15, 2016, Tuesday // 11:05
AFP: Bulgaria's Radev 'Struck a Chord by Attacking the Status Quo'
President-elect Rumen Radev "struck a chord with voters by attacking the status quo and stressing issues like national security and migration," AFP agency writes after the presidential vote on Sunday.
Views on BG | November 14, 2016, Monday // 15:31
Politico: Bulgaria May Veer Shaprly Back into Moscow Orbit after Presidential Vote
Bulgaria "looks set to veer sharply back into Moscow's strategic orbit after Socialist candidate Rumen Radev won the presidency in a landslide on Sunday," Politico writes in a report on the country's presidential election.
Views on BG | November 14, 2016, Monday // 15:12
