Insolvency

Over 200 seamstresses, who have not received their salaries from a company located in the industrial zone of Plovdiv, will meet today with Ombudsman Maya Manolova.

Over 80% of Bulgarian citizens want an introduction of a law on private bankruptcy. This was announced by Ombudsman Maya Manolova.

"A law that regulates the insolvency of individuals, a huge percentage that is adequate to the huge problem that Bulgarians have difficulty paying their loans - to banks, to fast loan companies, leasing houses, including household bills, "she added.

Applications to enter the new, 120-tranche payment scheme for the settlement of social security arrears up to 50,000 euros will be accepted from January.

More than eight months after the Croatian state took control of the hugely indebted Agrokor company, the management has decided to transform debts owed to creditors into ownership of the company.

The beginning of the new millenium was a period of significant reform in Slovenia as the country prepared to join the European Union in 2004. A new insolvency law was adopted in 2007 but it was inadequate, it did not cope with the challenging economic and financial conditions brought on by the global financial crisis of 2008; many companies became insolvent.

Alpha Bank is transferring debts in its portfolio from cards, consumer loans and small corporate loans delayed between five and seven years, with a total value of 2.5 billion euros.

''The Ministry of Economy is starting active work on acquiring the ''Dunarit'' ammunition factory'', Minister Emil Karanikolov told journalists at a briefing.

The process for companies to sign up for the out-of-court debt settlement scheme after the recent launch of the online platform allowing firms to apply has proved difficult and time-consuming.

The Turkish government has collected almost 23 billion Turkish Liras ($6.5 billion) through its latest debt and tax restructuring plan, Finance Minister Naci Ağbal told state-run Anadolu Agency on June 2. 

The Turkish government has collected 21 billion Turkish Liras ($5.9 billion) in line with the latest debt and tax restructuring plan, a top official has said, adding that a fresh system would slash the need for another restructuring plan.