site.bta PM Borissov Confirms Meeting Corpbank Majority Shareholder Vassilev Last Year

PM Borissov Confirms Meeting Corpbank Majority Shareholder Vassilev Last Year

Sofia, March 31 (BTA) - Prime Minister Boyko Borissov confirmed
Tuesday that he met with controversial banker Tsvetan Vassilev
last June. The meeting was held at Borissov's home in Sofia's
suburb Bankya, he told journalists after he emerged from the
court where he gave evidence on the case against the former
intelligence head Kircho Kirov.

At that time, Borissov warned the banker his house was being
watched and that every morning paid protesters surrounded it.
Vassilev then apologized for the organized "presence" which
continued for nearly a year.

Concerning the developments involving the failed Corporate
Commercial Bank (Corpbank), Borissov said he thinks the main
ones to blame are the former prime minister Plamen Oresharski
and the then finance minister Peter Chobanov. In his opinion
Bulgarian National Bank Governor Ivan Iskrov's audacity to keep
his post seems to have no limits, but Borissov added that the
national bank will have a new governor in May.

"We have saved banks repeatedly and are doing this now," The PM
said. In his opinion, the funds shouldn't have been withdrawn
from Corpbank. It had to be supported and after that Vassilev
had to be questioned. Borissov appealed to Vassilev [currently
left in remand in Serbia] to return to Bulgaria and promised to
provide security guards and even to meet him at the border
personally. "We only want the money which the Fund gave to be
repaid by the sale of the Corpbank property," he commented.

Borissov told jourrnalists that the intelligence services had
learnt about the LIC33 deal. As to the words of Pierre Louvrier
that he wanted to meet the Prime Minister, he said he is
expecting a letter and will decide after he receives it.

LIC33, a group of companies pooling European Union investors
specialized in emerging markets and distressed situations, has
purchased from Vassilev 43 per cent in Bulgarian
Telecommunications Company (BTC, trade name: Vivacom), 100 per
cent in NURTS (a major provider of TV and radio broadcasting
services), and 91 per cent each in Dunarit (an ammunition and
explosives manufacturer), Avionams (a military jet and
helicopter repair and maintenance provider), GARB (an audience
research company) and First Digital (a digital terrestrial
multiplex operator), against 1 euro, in return of pledges to
cover outstanding obligations worth about 900 million euro.

On March 24, Louvrier, the sole owner of LIC33, told a news
conference in Sofia that he is not involved in politics but is
just an independent investor. He denied links with Russian
oligarch Konstantin Malofeev. Louvrier said he is working in
Russia but he is a Belgian and not Russian national.

Later on Tuesday, the "Dnevnik" daily published a copy of a
letter Louvrier sent to the Prime Minister requesting an
official meeting and stating that his group "does not ask any
favorable treatment, but simply respectfully ask for the
government to respect the rule of law private property, the
freedom of entrepreneurship, and their personal security - what
they would expect in any EU country".

Vassilev is the majority shareholder in the failed Corpbank. On
June 20, 2014, having suspended all operations after a panic run
by depositors left it illiquid, Corpbank (Bulgaria's fourth
biggest lender) was placed by the Bulgarian National Bank (BNB)
under special supervision for a maximum of six months to allow a
thorough audit and possible restructuring. The BNB Governing
Council withdrew Corpbank's banking licence on November 5, 2014,
and the bank's bankruptcy was petitioned on November 7. The
delicensing decision is being appealed by shareholders in the
bank before the Supreme Administrative Court. Because of the
appeal, the bankruptcy petition has been put on hold. Vassilev
has been charged with aiding senior Corpbank executives to
embezzle nearly 206 million leva from the bank between December
2011 and June 2014.