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Aug 28, 2014

Centre back Moti turns keeper for Ludogorets

SOFIA (Reuters) – Defender Cosmin Moti was forced into goal for a penalty shootout and made two saves to send Bulgarian club Ludogorets into the Champions League group stage for the first time at the expense of Steau Bucharest.

The victory has now created a headache for club management who may need to play games outside of the country due to a lack of a suitable stadium.

Aug 28, 2014

Soccer-Centre back Moti turns keeper for Ludogorets

SOFIA, Aug 27 (Reuters) – Defender Cosmin Moti was forced into goal for a penalty shootout and made two saves to send Bulgarian club Ludogorets into the Champions League group stage for the first time at the expense of Steau Bucharest.

The victory has now created a headache for club management who may need to play games outside of the country due to a lack of a suitable stadium.

Aug 27, 2014

Bulgaria sets up energy board to boost transparency

SOFIA, Aug 27 (Reuters) – Bulgaria’s interim government said
it had set up an energy board to ensure that badly needed
multi-billion euro projects in the poorest European Union state
are transparent.

The board will assist the incumbent cabinet in an attempt to
stabilise the energy sector of the Balkan country, which is
deemed one of the most corrupt nations in the European Union.

Aug 26, 2014

Bulgaria orders seizure of Corpbank shareholder’s property

SOFIA, Aug 26 (Reuters) – A Bulgarian court has ordered the
seizure of property belonging to the main owner of troubled
Corporate Commercial Bank (Corpbank), a central bank
deputy governor and six other officials, prosecutors said on
Tuesday.

The fate of Bulgaria’s fourth-largest lender has been in
limbo since June, when a run on deposits prompted the central
bank to take control of it and close its operations, triggering
the worst banking crisis in the Black Sea state since the 1990s.

Aug 25, 2014

Bulgaria Corpbank’s owner says working with Oman on restructuring plan

SOFIA, Aug 25 (Reuters) – The majority owner of Bulgaria’s
troubled Corporate Commercial Bank (Corpbank) said on
Monday it was working with Oman’s sovereign wealth fund and
other interested investors to restructure the lender.

Corpbank’s fate has been in limbo since June, when a run on
deposits prompted the central bank to seize control of it and
close its operations, sparking the worst banking crisis in the
poor Black Sea state since 1990s.

Aug 20, 2014

Austrian fund a “ray of hope” for Bulgaria’s Corpbank, says PM

SOFIA, Aug 20 (Reuters) – An unidentified fund based in
Vienna has expressed interest in rescuing Bulgaria’s Corporate
Commercial Bank (Corpbank) and will present its plan
within 10 days, Bulgaria’s Prime Minister Georgi Bliznashki said
on Wednesday.

The fate of the country’s fourth-largest lender has been in
limbo since June, when a run on deposits prompted the central
bank to seize control of Corpbank and close its operations,
sparking a banking crisis in the Balkan state.

Aug 19, 2014

Depositors at troubled Corpbank protest across Bulgaria

SOFIA, Aug 19 (Reuters) – Hundreds of angry depositors at
Bulgaria’s Corporate Commercial Bank (Corpbank) staged
protests in Sofia and several other cities on Tuesday, demanding
access to their accounts that have been frozen since the bank
was shut down in June.

Bulgaria’s fourth-largest lender was hit by a run on
deposits that led to the country’s biggest banking crisis since
the 1990s. There is still no solution in sight on what the
Balkan state – currently run by a caretaker government until
elections in October – will do with the bank or to what extent
its depositors and bondholders will be protected.

Aug 15, 2014

Bulgaria’s central bank reopens Corpbank for debt repayments only

SOFIA, Aug 15 (Reuters) – Bulgaria’s central bank has
allowed some banking activities to resume at Corporate
Commercial Bank (Corpbank) so borrowers can repay loans
to the country’s fourth-largest lender, officials said on
Friday.

The bank was hit by a run on deposits in June that led to
Bulgaria’s biggest banking crisis since the 1990s. Corpbank was
placed under the control of the central bank and has since
remained shut pending an audit into its books, due to be
completed by October, leaving angry customers without access to
their deposits.

Aug 12, 2014

Prosecutors charge owner of Bulgaria’s Corpbank with embezzlement

SOFIA, Aug 12 (Reuters) – Bulgarian prosecutors said on
Tuesday they have charged the main owner of troubled Corporate
Commercial Bank (Corpbank), Tsvetan Vassilev, with
embezzlement and an international warrant has been issued for
his arrest.

The bank was hit by a run on deposits in June that led to
Bulgaria’s biggest banking crisis since the 1990s. Corpbank has
since remained shut and angry customers are demanding access to
their remaining deposits.

Aug 6, 2014

Bulgaria’s interim PM promises to restore public trust

SOFIA, Aug 6 (Reuters) – Bulgaria’s newly appointed Prime
Minister Georgi Bliznashki promised on Wednesday to restore
public trust in political institutions in the short time that
his caretaker government is in office.

A law professor and former Socialist party lawmaker,
Bliznashki was named on Tuesday to head an interim government
until the Balkan state holds a snap election on Oct. 5,
following the resignation of a Socialist-led coalition
government in July.

    • About Angel

      "I'm a sports correspondent based in Sofia. Alongside writing about Bulgarian sport I help the Sofia bureau by covering politics, economics and culture."
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