Second Russian bank has control over BTC

46% of the telecom has been pledged to Bank Otkritie: the Russian lender which was rescued from bankruptcy through nationalization and which is believed to be extremely close to Kremlin   A Russian bank that was recently rescued from bankruptcy with the help of the…

Borisov’s privatization: few competitive procedures, a lot of Peevski

“An overarching priority of the Privatization Agency in 2010 will be completing the privatization of the state’s equity in Bulgartabac Holding.” The year is 2009 and GERB leader Boyko Borisov has just taken power for the first time. The year will remain in history with…

Behind the scenes of “Ginka buying energy distributor”

It may be less than two months since the beginning of 2018 but the sale of the electricity distribution business in Bulgaria of Czech state-owned CEZ can certainly be nominated as “deal of the year”. Firstly, because it is a key asset that has implications…

Bulgaria faces arbitration again

Bulgaria is again facing arbitration in Washington. Again, it is an energy case. Due to changes to the legislation regulating the buy-out of electricity from renewable sources, the owner of the largest photovoltaic park in Bulgaria, Maltese company ACF Renewable Energy Limited, has filed a…

Prosecutor’s monarchy

Constitution of Bulgaria Art. 1 (1) Bulgaria shall be a republic with a parliamentary form of government. (2) The entire power of the state shall derive from the people. The people shall exercise this power directly and through the bodies established by this Constitution. (3)…

KTB’s trustees in bankruptcy give up BTC completely

While lawmakers in the National Assembly, led by Movement for Rights and Freedoms MP Delyan Peevski, are urgently adopting extraordinary legislation intended to prevent the embezzlement of Corporate Commercial Bank’s (KTB’s) assets, the trustees in bankruptcy are demonstrating, without much ado, how one can act…

Municipal Bank’s privatization follows Bulgartabac’s model

The state, in the person of prime minister Boyko Borisov and economy minister Emil Karanikolov, may have declared the end of privatization but Bulgaria’s largest municipality is about to sell its most significant asset that is subject to privatization. That concerns the sale of Sofia…