Notorious Bulgarian tour operator On Travel is selling property to pay off its creditors, according to Deputy Minister of Economy, Energy and Tourism Ivo Marinov.

Marinov informed that the investigation at the company was still underway.

On October 7, On Travel left 88 Bulgarians stranded in a hotel in the Marbella beach resort in southern Spain

The tourists had been scheduled to leave Saturday after a week-long vacation, organized by the On Travel Company, only to be told they could not be provided a return trip home.

The Bulgarian Embassy in Spain interfered to assist the return trip of the tourists.

On October 10, 38 other tourists were trapped in the Turkish resort of Marmaris.

On the fourth day of their holiday, the Bulgarian tourists were asked to pay an extra EUR 350 for their overnight stays or leave the hotel.

After the intervention of Bulgaria's Ministry of Economy, Energy and Tourism, the tourists were able to continue their holiday and return home on October 13 as scheduled.

On Monday, Marinov informed that the inspection of the Bulgarian Commission for Consumer Protection at On Travel was still underway.

He said that when the check was wrapped up, a review of the documents would be made, and if the expert committee on registration of tour operators tabled a motivated proposal, a decision would be taken on the revocation of the license of On Travel.

Bulgaria's Deputy Minister in charge of tourism explained that On Travel had not yet filed documents to initiate bankruptcy proceedings.

"Since the thresholds for compensations to consumers were raised, On Travel has an insurance amounting to BGN 1.4 M which will suffice to compensate the tourists," the Deputy Minster explained.

Marinov assured that the sums were available and only the mechanism of handing them out to foreign contractors and consumers was yet to be figured out.

Marinov made clear that the compensation procedures had started.

He said that the consumers affected by the irregularities had been invited to submit documents after On Travel informed the insurer about the case.

Bulgaria's Deputy Minister made clear that the documents were still accepted and the inspections were underway.

He vowed that all customers who showed documents certifying that they had signed a contract and had made a payment would receive compensation.