Specialized Prosecution Office Plans to Bring Corpbank Case to Court before Mid-July
Sofia, March 30 (BTA) - The Specialized Prosecution Office (SPO) plans to take the case about the syphoning of Corporate Commercial Bank (Corpbank) to court before July 15, which is when courts go on vacation, said SPO Chief Ivan Geshev at a Thursday news conference.
He added that the prosecuting magistracy has not yet received a reply from the Serbian authorities regarding the extradition request for the bank's majority owner, Tsvetan Vassilev, who has been in Serbia since 2014, when his bank suspended all operations. There is no reaction from the European institutions concerning the prosecuting magistracy's inquiries, Geshev noted.
According to him, the SPO's work is plagued by a number of problems, which do not exist on other EU countries. The situation is gravest at the investigation department, which Geshev said is the busiest in the country, but its staff gets paid normal wages. He noted that attracting quality magistrates requires providing them with the adequate bonuses.
Corpbank suspended all operations on June 21, 2014 after a run by depositors left it illiquid. It was placed under conservatorship on the same day. The Bulgarian National Bank withdrew Corpbank's banking licence, effective November 6, 2014, when it found that the bank's own funds amounted to minus 3,700 million leva and its assets were impaired by 4,222 million leva. On April 22, 2015, the Sofia City Court adjudicated Corpbank bankrupt.
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