site.btaDeputy PM Simeonov to Petition Prosecutor General on Arbitration Court Decision about NMB

Sofia, October 6 (BTA) - Deputy Prime Minister Valeri Simeonov will alert the Prosecutor General on alleged unlawfulness of the decision of the Arbitration Court with the Bulgarian Chamber of Commerce and Industry (BCCI) on the case for amending the agreement for the privatization of Navigation Maritime Bulgare (NMB), the Government's Press Service said Friday.

According to Simeonov, the Arbitration Court decision is based on incorrect interpretation and application of a Commerce Act provision on economic intolerance which is inapplicable to privatization agreements. Besides, the Arbitration Court has drawn its conclusions on the application of the Commerce Act on the basis of false analyses, said Simeonov.

Therefore, the Arbitration Court decision to amend the NMB privatization agreement and accept the scrapping of a considerable part of the NMB fleet as admissible and necessary is unlawful.

According to the Deputy Prime Minister, apart from being unlawful and servicing the interests of the privatizing company, the decision goes as far as threatening the national security.

KG Maritime Shipping, which owns 70 per cent of the NMB capital, requested from the Arbitration Court to change certain conditions of the privatization agreement. The question is about two commitments to the state: to have a set tonnage of ships and maintain a certain number of employees.
The owner claimed that the fulfillment of these commitments would incur considerable costs for the company, in particular around 55 million leva.

In April 2017, the Arbitration Court granted the request and authorized the change of the privatization agreement.