Two creditors of the Varna shipyard rejected the evaluation of the shipyard’s long-term assets prepared by the consulting company PriceWaterhouse Coopers (PWC) as too high. These two creditors demanded from the Varna Regional Court to convene a shareholders’ meeting of the shipyard to discuss the evaluation of the shipyard. According to Nikolay Vassilev, Deputy Prime Minister and Economy Minister the evaluation of Varna shipyard was realistic and a public tender is going to be held within a month. He added that Bulgaria expects both domestic and foreign investors to bid at the tender. The shipyard’s outstanding debt was estimated at BGN 165 M in the beginning of 2001.

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