ECONOMY MINISTRY INVESTIGATES VIDACHIM

Business | September 14, 2001, Friday // 00:00

Economy Ministry experts check the procedures of Vidachim Chemical Plant liquidation for the period between September 1999 and June 2001. The Economy Ministry demanded the check-up after an Internal State Control Agency investigation. Losses exceeding BGN 200,000 are investigated, a source disclosed, quoted by Pari Daily. The prices at which fixed tangible assets were sold were much below the real prices. Many of these deals were covered by the directors and accountants who are still working at the company, the source also said. The results from the Ministry`s check-up will be announced at the general meeting of creditors on September 26. The meeting will elect a second receiver at the company. The lists of the creditors` receivables have been presented to the Vidin Regional Court. The Italian Marangoni, a Turkish holding and an Israel company have shown interest in the memorandums on the facilities and the thermal-power plant.

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