At the end of October it will be clear whether the Court approves the purchase of Credit Bank by Roseximbank. The evaluation of the bankrupt financial institution Credit bank and the contract signed between the bank`s trustees and the candidate buyer were submitted to judge Svetlin Mihaylov from the Sofia City Court. Judge Mihaylov deals with the affairs of the failed bank, which used to be owned by the insurance group Multigroup. After the court is ready with a decision, the Bulgarian National Bank has to announce its position on the issue within one month. Only then Credit Bank will become property of Emil Kyulev`s bank Roseximbank. Roseximbank remained the only potential buyer of Credit bank after Hedger investment broker refused to negotiate. The evaluation prepared by Sokolova & Co. shows that the bank`s assets amount to BGN 8.7 M. The debts to juristic and natural persons exceed BGN 21 M. The clients of the bank with deposits up to BGN 10,000 were fully compensated. Credit Bank was closed on January 12, 1999. If the deal is approved by the Court, the bank will become the third bankrupt institution bought by an operating bank, Pari Daily wrote.

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