KTB

The highly contested election for head of state in Bulgaria "could trigger political instability in the Black Sea state and push it towards closer ties with Russia," Reuters says.

The Belgrade High Court has said it is to pursue with a decision on a pending extradition request from the Bulgarian government for businessman Tsvetan Vasilev, regardless of the latter's application for asylum.

The majority owner of Bulgaria's insolvent Corporate Commercial Bank, Tsvetan Vasilev, has said that he is suing his country at the European Court of Human Rights in Strasbourg.

Legal action taken against Bulgaria by the State General Reserve Fund of Oman is based on ill-founded claims, the country's Finance Minister Vladislav Goranov said on Tuesday.

He asserted Bulgaria was "prepared to fight this battle" and had already hired a team of lawyers.

The State General Reserve Fund of Oman has taken legal action against Bulgaria, seeking to recover the book value of its investment in collapsed Corporate Commercial Bank, Sofia-based 24 Chasa daily reported on Monday.

Bromak EOOD, the majority owner of collapsed Corporate Commercial Bank (KTB or Corpbank) and its executive officers are appealing last week's court ruling which declared the bank insolvent.

This was revealed by Menko Menkov, a lawyer for Bromak which is owned by Bulgarian businessman Tsvetan Vasilev.

Bulgarian Central Bank BNB's position on the developments at Corporate Commercial Bank (Corpbank or KTB) is a clear sign of the financial authority's "strong dependencies", KTB majority owner Tsvetan Vasilev has said.

Bulgarian prosecutors have accused a central bank official of deliberately failing to exercise proper supervision over the lending operations of collapsed Corporate Commercial Bank.

Bulgarian prosecutors have brought criminal charges against a former senior BNB official for suspected failure to exercise proper control over operations of Corporate Commercial Bank (KTB).

Rumen Simeonov, who served as deputy governor of Bulgarian National Bank (BNB) in charge of the banking supervision department from 2007 to 2013, was charged with abuse of office.

A top Bulgarian court has definitively refused to consider an appeal against the revoking of the banking licence of Corporate Commercial Bank (Corpbank or KTB), opening the way for an insolvency case against the collapsed lender to proceed.