Bulgaria lawmakers, minister comment on CorpBank report, possible declassification

02/25/16 05:48
(http://www.klassa.bg/)

Bulgaria lawmakers, minister comment on CorpBank report, possible declassification

Bulgarian Minister of Finance Vladislav Goranov sent the reportAlixPartners Services UK LLP prepared on tracking down the assets of bankrupt Corporate Commercial Bank (CorpBank) AD to the records management department of the National Assembly.
Bulgarian MPs and Minister Goranov commented on the report and its possible declassification on Wednesday.

“Pointing an accusing finger at those who took the money at CorpBank is no business of AlixPartners; this is a job of the Bulgarian Prosecutor’s Office,” Rumen Gechev, MP with the Bulgarian Socialist Party (BSP) Leftist Bulgaria, said.
According to Gechev, the report on the bankruptcy of CorpBank was done in a professional manner.
The lawmaker opined it would be useful for everyone in case the state institutions wanted to read it.
“The state institutions should read it carefully,” Rumen Gechev noted, adding the report did not contain names as the company that had compiled it was not an investigative service.
“The auditor’s report analysed companies’ accounting balance sheets, followed the taking out of loans and where the money went but pointing an accusing finger [at those who took the money] is not their business. This is a job of the Bulgarian Prosecutor’s Office,” Rumen Gechev noted.
In his view, the CorpBank money could be tracked down even without the report.

“The report on the draining of CorpBank does not help the Prosecutor’s Office to punish those responsible for the bankruptcy of the bank,” Radan Kanev, MP with the Reformist Block, opined
“I am concerned over whether the report contains enough materials also for the Prosecutor’s Office. It has two goals – civil proceedings to have the money restored and penal proceedings to punish those responsible. The indirect impressions I gained are it does not help [in attaining] the second goal,” Kanev commented.

“AlixPartners’ report confirms what we all know about CorpBank and what the ad hoc [parliamentary] committee [on CorpBank] has revealed,” Yordan Tsonev, MP with the Movement for Rights and Freedoms (MRF), said.
“The bank was run by the shareholders as a pyramid scheme, as a result of which assets were acquired with depositors’ money and these assets were not held by the bank,” Tsonev noted, adding this had even been said in owner Tsvetan Vasilev’s statements.
“The main assets purchased with depositors’ money are not in the bank,” the MP remarked.
“I do not what more you expect to be revealed about CorpBank. Everything has been revealed, including the inactivity of state institutions and which of the data are correct,” Yordan Tsonev stated.
“AlixPartners’ report confirms what we all know about CorpBank and what the ad hoc committee has revealed. The next step we took with my colleagues Petar Chobanov and Delyan Peevski is the declassification of the report so that the media and everyone become familiar with it […] irrespective of the confidentiality clause. I hear from other colleagues they will back this proposal,” the MRF legislator commented.

“We want the agreement with the company that did the report on CorpBank to be given to the parliament,” Martin Dimitrov, MP with the Reformist Bloc, commented.
Dimitrov noted he and lawmaker Petar Slavov had posed a written question to Minister of Finance Vladislav Goranov.
The lawmakers requested the agreement with the company that prepared the CorpBank report is given to the parliament.
In Dimitrov’s words, they want to see the confidentiality clause and whether or not it includes severe financial sanctions.
“If it does not include such, the report could easily become accessible for the public,” he commented.

“There is no obstacle to declassifying the report on CorpBank as public interest prevails,” Bulgarian Minister of Finance Vladislav Goranov said, speaking in relation to the MRF’s request for the investigation into CorpBank to be declassified.
“I heard they as if aim at disclosing the report, which is a trade deal between bankrupt CorpBank and a private company, irrespective of the will of the sides in the agreement. There is no obstacle to this taking place,” Minister Goranov commented.
“Irrespective of the fact there are at least two risks to that –first, if this is done without the sides’ consent, it is possible the investigating company makes claims against the other side in the agreement, in this case bankrupt CorpBank. But if it is decided public interest prevails, there is no obstacle to that. The other important thing is there is a real risk all conclusions in the report and all ascertained things may pose additional obstacles to the assignees’ quality work on piecing together the mass of insolvency and re-acquiring the [financial] resources in it,” Goranov explained.
He commented if this was ultimately the price of public interest, it should be paid.

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Публикувана на 02/25/16 05:48 http://www.klassa.bg/News/Read/article/264523_Bulgaria+lawmakers%2C+minister+comment+on+CorpBank+report%2C+possible+declassification+