KONIS AD ANNOUNCED BANKRUPT
The regional court in the town of Kjustendil in Western Bulgaria declared the Konis AD factory bankrupted and nominated Mr Vesselin Rashkov as its syndic.
The court disputes have been started in 1998 when the United Bulgarian Bank's branch in Kjustendil initiated a court trial regarding a credit, which was not paid off. The credit was worth USD 150 000 and was taken from Konis AD for its investigation program.
The German firm Kelpe has bought few days ago 52 per cent of company's shares. In 2000 a Konis Trade Association was registered in the Kjustendil's regional court. The Association holds stakes in Konis AD. A firm Konis Limited exists, which is registered in Germany and Switzerland according to local jurists. Konis AD was the only enterprise for condensers in the former Council for Economic Cooperation before November 10, 1989. Currently a Bulgarian-Italian firm named Arkotronix is registered in Kjustendil, which produces the same kind of condensers. Kjustendil's regional court will have a meeting on June 7 2001, at which a decision will be taken whether a rehabilitation program should be started or the firm should be liquidated.