CorpBank

Bulgarian Chief Prosecutor Sotir Tsatsarov has said the Corporate Commercial Bank (Corpbank or KTB) failure case will be submitted to the the Specialized Criminal Court in February or March.

Tsvetan Vasilev, the majority owner of insolvent Corporate Commercial Bank (Corpbank KTB), is to appear before the Belgrade High Court on Wednesday.

Vasilev is facing an extradition request from Bulgaria, which has been seeking to indict him with charges of embezzling BGN 206 M from his own bank.

A government agency in charge of forfeiting illegal assets announced on Thursday it had filed a claim against Tsvetan Vasilev, the majority shareholder of insolvent Corporate Commercial Bank (Corpbank or KTB).

At a press conference, the Commission for Illegal Assets Forfeiture (CIAF) accused Vasilev of unlawfully acquiring BGN 2.2 B (EUR 1.12 B), BGN 1.4 B of them being secured.

Bulgarian businessman Tsvetan Vasilev accused controversial lawmaker Delyan Peevski of blackmailing him and asking to take over key companies in return for sparing Corporate Commercial Bank (Corpbank or KTB) back in 2014.

Vasil Velev, Chair of the Bulgarian Industrial Capital Association (BICA), has rejected allegations of an upward trend in corporate bankruptcies, stressing that H1, 2015 data testifies to the opposite.

Bulgaria's Registry Agency announced on July 16 that the number of bankruptcies had gone up by 34% on the year in H1, 2015 to a total of 341 companies.

The Bulgarian Stock Exchange-Sofia (BSE-Sofia) has reported a 68% decrease in turnover to BGN 250,6 M on the year in the first half of 2015.

June 2015 brought a 65% decrease on the year to BGN 26,4 M, according to data of BSE-Sofia.

Developments at TV7, where a bailiff accompanied by dozens of police officers tried to switch the station off air, are dominating other Bulgarian media outlets on Thursday.

What just happened in a nutshell:

Bulgaria's Prime Minister Boyko Borisov on Wednesday said he had ordered police to leave the headquarters of private TV7 channel in Sofia after increased police presence in the building sparked accusations of infringement on media freedom.

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.