Ivo Dachev

The Sofia City Court has declared the state of bankruptcy of Bulgaria's Corporate Commercial Bank (KTB) and announced the initial date of its insolvency was November 6, 2014.

The Sofia City Court (SCC) has resumed proceedings on the insolvency case of Corporate Commercial Bank (Corpbank or KTB).

Court hearings will be held on 15 April starting at 10 a.m. (0700 GMT), legalworld.bg reported on Friday.   

Another of the deputy chairs of Bulgaria's Sofia City Court (SGS) - judge Nikolay Dimov resigned due to personal reasons.

Dimov, who was in charge of the administrative department, deposited his resignation at the Supreme Judicial Council (VSS) on Thursday, daily Sega reports.

Chairman of Bulgaria's Supreme Court of Cassation (VKS) Lozan Panov announced that one of the deputy chairs of Sofia City Court (SGS) - judge Ivo Dachev resigned on Wednesday.

Although both Panov and Justice Minister Hristo Ivanov have demanded the immediate resignation of SGS's management en bloc, this has not happened to date, Darik radio reports.