site.btaFinance Minister Sends to Parliament Corpbank Asset Tracking Report

Finance Minister Sends to Parliament Corpbank Asset Tracking Report

Sofia, February 23 (BTA) - Finance Minister Vladislav Goranov has sent to Parliament's secretarial office a classified report by AlixPartners Services UK LLP which was hired to track and recover the assets of the failed Corporate Commercial Bank (Corpbank), the Finance Ministry said Tuesday.

Responding to a request by the government that the report be made public, AlixPartners wrote to the Finance Ministry on Monday that in the interest of preserving the bankruptcy estate, the confidentiality clauses of their contract should be observed. However, considering the overriding public interest to uncover the truth about the failure of Corpbank, AlixPartners agree to have the report available in the classified department of Parliament's secretarial office where the MPs can view it on condition of non-disclosure.

According to the Finance Ministry, AlixPartners argue that the reportn contains sensitive financial and commercial information, and making it public might undermine the efforts to recover the Corpbank assets.

The authors of the report are adamant that only the original English-langauge version is to be considered authentic and they shall not be responsible for any Bulgarian-language translations.

AlixPartners was hired in June 20015 by the Corpbank trustees in bankruptcy and they received its report on September 23, 2015, the Finance Ministry says.