site.btaMPs Raise Questions over Name of Firm Contracted for Tracing Corpbank Assets

MPs Raise Questions over Name of Firm Contracted for Tracing Corpbank Assets

Sofia, March 10 (BTA) - MPs of the Patriotic Front, the Reformist Bloc and GERB have sent an inquiry about the name of the firm which has been commissioned to draw up a report on the assets of the failed Corporate Commercial Bank (Corpbank). Valeri Simeonov, Martin Dimitrov, Peter Slavov and Metodi Andreev on Thursday told journalists in Parliament that they had asked the Finance Minister over inconsistencies in the information submitted by the Bulgarian Deposit Insurance Fund.

Peter Slavov said that the Fund has cited two different names AlixPartners Services UK in an official statement and AlixPartners UK in a reply through the Finance Ministry. Under the Bank Bankruptcy Act, the bank's trustees in bankruptcy should conclude a contract with a firm with an international experience in bank bankruptcy investigations and not with their subsidiaries.

Martin Dimitrov said that they have been denied access to the contract between the company and Corpbank's trustees in bankruptcy. He said they will table an amendment to the Bank Bankruptcy Act which will allow the report and the contract with the asset tracing company to be published.

Dimitrov also said that the most important question was why the firm was not tasked with the recovery of Corpbank's assets as well and who wanted that.