site.btaDepositors in Troubled Corporate Commercial Bank Expected to Sign Agreement with CCI Investigating Company Next Week

Depositors in Troubled Corporate Commercial Bank
Expected to Sign Agreement with
CCI Investigating Company Next Week


Sofia, November 9 (BTA) - An agreement is expected to be signed
in the coming week with investigating company Competitive
Corporate Intelligence (CCI) AG on behalf of depositors in the
troubled Corporate Commercial Bank (Corpbank). The agreement
will be signed by the Other Bulgaria political party, its
Chairman Bozhidar Tomalevski told a news conference Sunday.

On November 5, the Governing Council of the Bulgarian National
Bank (BNB) withdrew Corpbank's banking license. On June 20,
2014, Corpbank suspended all operations after a run by
depositors left it illiquid, and on the same day the BNB placed
it under special supervision for a maximum of six months to
allow a thorough audit and possible restructuring.

The depositors in the bank hire CCI to trace the cash flows from
 Corpbank. Tomalevski said that the company will be hired to do
the investigation even if the BNB too assigns an investigation
into the troubled banks' assets to a foreign firm. He said that
the investigation findings will be used to underpin a
forthcoming class action the depositors will bring in the Court
of Justice of the European Union in Luxembourg and in the
European Court of Human Rights in Strasbourg. Tomalevski said
that "Bulgaria will be convicted and the depositors will get
their money".

The depositors argued that the withdrawal of Corpbank's license
was "a plot by the State and high-ranking officials against the
people".

In a letter sent to various state institutions, the depositors
require from the BNB and Corbank information about alleged
transactions totalling 100 million leva made in the span of just
 eleven minutes late in the night on June 20, when the bank and
the payment settlement system had already closed for the day.
The depositors want to know how these transactions were
performed and who "the privileged recipients" are.

The depositors said they resume their protests on Monday noon in
 front of the Parliament building. SN /ZH/
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