Corporate Commercial Bank Begins Payments to Creditors After 10-Year Bankruptcy
Trustees of Corporate Commercial Bank (CCB), currently in bankruptcy, announced the commencement of payments to creditors starting at 09:00 on November 5, 2024
Tsvetan Vasilev, the majority owner of Corporate Commercial Bank (Corpbank or KTB), has said he could file a court claim against UK-based consultancy AlixPartners which in a report accuses him of embezzling billions from his own bank.
AlixPartners was hired by KTB's receivers to trace the assets of the insolvent bank which had collapsed following a run on deposits in June 2014, with Vasilev leaving the country.
The company's report was recently published despite objections from the company raised under confidentiality clauses.
On his blog, Vasilev alleged that AlixPartners might have been employed to create a document that would match the needs of the prosecution.
The businessman, now living in Serbia and awaiting a court decision on an extradition request from Bulgaria, maintains the run and subsequent insolvency of his bank was orchestated by his partner-turned-rival, controversial MP and alleged media mogul Delyan Peevski, and backed by state institutions.
He also reiterated that one of the aims of organizers had been to get hold of the "main assets" controlled by the bank, namely major telecom Vivacom, Technomarket, oil trader Petrol, and many others.
Ukraine's parliament has given the green light for the acquisition of two nuclear reactors initially intended for Bulgaria's Belene Nuclear Power Plant (NPP)
The Black Sea region in Bulgaria is facing a serious labor shortage ahead of the summer season
Parvomay Municipality in Bulgaria has become one of the first to prepare for the country’s euro adoption
Over the past two decades, more than 800,000 family-owned stores have vanished from Bulgaria
In 2024, nearly 36,000 foreign workers from 79 countries have been granted permission to work in Bulgaria
Professor Steve Hanke, who established Bulgaria’s currency board, emphasized that the country should maintain the current system, as it continues to work effectively
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