Court of Appeals declared Vidachim, which was in a liquidation procedure, bankrupt, considered from June 21, 2001. Creditors Karbonex-Germany, First Private Bank, and Chimgasimpex won the case against the Vidin-based company, said Alexander Dimitrov,
liquidator of the tire producer. The works owes more than BGN 680,023 to First Private Bank, BGN 155,183 to Karbonex-Germany for coal supply, and BGN 1.713 million to Chimimport for raw materials. Lawyer Irena Alexandrova has been appointed temporary receiver. A meeting of the creditors is scheduled for July 6 to appoint receivers at Vidachim. The employees are fourth on the list of creditors. Knowledgeable sources say that the workers will not receive the wages due for 1998 and 1999 due to the declared
bankruptcy.