Банкеръ Weekly

Briefs

BALKAN UNIVERSAL BANK DID NOT FIND A BUYER FOR ITS TREASURE

Vladimir Donchev, curator of the bankrupt Balkan Universal Bank, did not succeed in finding buyers interested in the bank's treasure. The Balkan Universal Bank owns 55 valuable items - bronze statuettes, antique relief and ornament items, Roman and medieval coins, as well as church plates. A couple of years ago, Bojidar Dimitrov, former National History Museum Director, estimated the value of this collection at more than USD1MN, but obviously that price was taken seriously only by bank managers. In February 2000 the bank was closed, and in May its curator Vladimir Donchev order second evaluation of the collection, further to be used for announcing an auction.


According to evaluators the bank's treasure is worth not more than BGL610,000. That was the initial price at the auction, organised on October 20. The auction did not provoke big interest.


There were some people, who claimed to be foreign representatives. Two of them even went to see the collection, which is deposited at Capitalbank. They asked whether it will be possible to export it abroad, but I recommended them to obtain this information themselves. It seems they were not satisfied with their findings, as no offers were placed till the deadline which expired on November 20,


The Balkan Universal Bank used the treasure as a collateral for its liability to Capitalbank, amounting to BGL510,000. The curator intends to transfer the ownership of this collection in favour of Capitalbank, thus elliminating one of the creditors.


Obviously, there are no solvent collectors, prepared to purchase the treasures of the bankrupt banks. For four years after being declared bankrupt Slavyany Commercial Bank has not been able to sell its collection of antique and medieval items, coins and church plates.

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