Банкеръ Weekly

Briefs

FALSE YEARNING FOR BALKANCAR 6 SEPTEMBER

A Sofia-based company firm has misled the trustee in bankruptcy of Balkancar Holding Boyana Karaivanova that the world famous company Jon Heinrich is willing to buy Balkancar 6 September, declaring itself a representative of the German company in Bulgaria. Ivan Petrounov, Manager of the company's Bulgarian branch, said in font of the BANKER weekly that Jon Heinrich has never showed interest towards any firm of Balkancar Holding's system. He even explained on September 6 he sent a letter to the holding's trustee in bankruptcy, notifying him officially about that fact.It was obviously not understood sufficiently well by Ms. Karaivanova, as on October 15 she publicly stated that the Germans would probably take part in the public sale of 51% of the enterprise's capital. It could be a move on her part, aimed to calm down the indignation of employees who have not been paid their wages for months on end. It is hard to believe she is so naive as to take for granted the words of the firm in question. Ms. Karaivanova said that what happened could be explained by a probable abuse of Jon Heinrich's name on the part of the Bulgarian firm, adding the important thing was to sell the shares, no matter who the buyer would be. Her opinion on the same issue was rather different only a week ago when representatives of syndicates, workers and three minister met to discuss the problems of Balkancar Holding. On October 29 the trustee in bankruptcy will offer for sale majority packages of shares in the holding's enterprises Balkancar 6 September - Sofia, Balkancar Zarya - Pavlikeni, Balkancar Zvezda - Lukovit, Balkancar ZP T.Petrov - Sofia, Balkancar - ZPDEA G.Kostov - Sofia, Balkancar Iskar - Mezdra, and Balkancar Miziya - Byala Slatina.

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