The appellate court of Serbia has overruled the extradition of Bulgarian businessman Tsvetan Vasilev which had been granted by the High Court of Belgrade.

On Thursday, it became clear that more than a month ago the High Court of Belgrade had granted the extradition of Vasilev to Bulgaria.

In an interview for private NOVA TV on Friday, one of Tsvetanov’s lawyers said that his extradition had been overruled by the second instance court and the ruling returned to the first instance court on Tuesday.

Vasilev, who was majority shareholder of insolvent Corporate Commercial Bank (KTB), is sought in Bulgaria on charges of embezzlement amounting to BGN 206 M.

This is the second time the extradition of Vasilev is granted by the first instance court and then reversed by the appellate court. The same happened last year.

Serbia’s justice minister will have the final say on Tsvetanov’s extradition.