site.btaState Has Withdrawn BGN 1,675 Mln to Pay Guaranteed Deposits in Corpbank - Minister

State Has Withdrawn BGN 1,675 Mln to Pay Guaranteed Deposits in Corpbank - Minister

Sofia, February 26 (BTA) - The state has withdrawn 1,675 million leva to pay the guaranteed deposits in Corporate Commercial Bank (Corpbank) through the Bulgarian Deposit Insurance Fund (BDIF), Finance Minister Vladislav Goranov said during Question Time in Parliament on Friday.

"The BDIF loan will be repaid as we hope that this will be done using part of the stolen Corpbank assets as soon as they are recovered," the Minister also said.

Hundreds of set-offs have been challenged in the recent months; there are frozen assets and a huge number of bankruptcy proceedings against debtors of the bank, Goranov noted. "We have been working round-the-clock to recover the bank's assets but this is a very difficult process involving many proceedings. For many years, smart but ill-meaning people had worked in the opposite direction, so that we would be unable to restore the bank's money."

Goranov promised to MP Martin Dimitrov a written reply regarding the scope of the agreement with Alix Partners Services UK LLP which was hired to track and recover the assets of the failed Corpbank. Goranov assured Dimitrov that it exceeds by far what is envisaged in the law.

Goranov also said that he is getting familiarized with the reasons for errors in the lists of Corpbank depositors and may come up with a decision on whether there will be replacements of trustees in bankruptcy immediately.