Банкеръ Weekly

Briefs

BCC'S FORMER LAWYER JOINED SG EXPRESSBANK

Svetlina Kortinska vacated her position of a legal adviser in the Bank Consolidation Company (BCC) and as of July 1 was appointed Deputy Director of the Sofia branch of SG EXPRESSBANK. Some banking jurists, however, immediately interpreted that move as conflict of interests.
Ms. Kortinska was BCC's legal adviser when EXPRESSBANK was sold to Societe Generale. Moreover, she had expressed an opinion at BCC's Board of Directors that the purchase of SG EXPRESSBANK's problematic receivables from the companies Dolphin 1 and Bulunion (a move which BCC made in May 2001) was legally expedient. Currently, lawsuits are going on for these receivables. In end-June the bank lost a case against Dolphin 1 at a court of second instance - the Varna Court of Appeal.
On July 17 the member of SG EXPRESSBANK's Management Board Krassimir Zhilov was nervoursly waiting for almost one hour in front of BCC's conference room where its Board of Directors were havising a session. He is reported to have discussed after that the problem regarding Dolphin 1 with BCC's Executive Director Petar Jotev.

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