site.btaCorpbank's Bankruptcy Case Resumed, Hearing Scheduled for April 15

Corpbank's Bankruptcy Case Resumed, Hearing Scheduled for April 15

Sofia, April 3 (BTA) - Sofia City Court judge Ivo Dachev has
renewed the stayed bankruptcy case of failed Corporate
Commercial Bank (Corpbank). A hearing of the case has been
scheduled to be held on April 15, sources from the court said.

The case is resumed after on Thursday a five-member panel of the
Supreme Administrative Court upheld a ruling of a three-member
panel of the same Court stating that the shareholders appealing
Corpbank's delicensing decision have no legal standing. Because
of the appeal, Corpbank's bankruptcy case had been put on hold.

On June 20, 2014, Corpbank, Bulgaria's fourth biggest lender,
suspended all operations after a panic run by depositors left it
illiquid. The central bank withdrew Corpbank's banking licence
on November 5, 2014, and the bank's bankruptcy was petitioned
on November 7.