Банкеръ Weekly



At the beginning of this year the Plovdiv District Court pronounced its judgement that Invart Financial House and Sezony 91 Production Co-operative have a liability amounting to BGL426,800 to the bankrupt MINERALBANK. Both companies will make a claim against this judgement, but the bank's lawyers are of the opinion that having overcome the court of first instance, the judgement of the Court of Appeal will come easier and faster. According to some sources Nikolay Konarev, Invart Managing Director, has already asked Stanislav Lutov, MINERALBANK's curator for a meeting. The latter refused comments on this case, but it is easily assumable that Konarev will try to reach an extrajudicial settlement of Invart's and Sezoni 91's liabilities to the bankrupt bank.
Sezony 91 Production Co-operative, producer of soft drinks, is just one of the 28 companies, which liabilities to MINERALBANK Invart Financial House had undertaken to collect in 1993. Till that moment the bank, which was declared insolvent in 1996, has not received anything. And the total amount of these liabilities exceeds BGL2.5MN.
That is the reason why the bank's curators have placed a claim against Invart Financial House and Sezony 91 Production Co-operative still in November 1998. Due to various reason the court has been postponing its considering. Now the bank's lawyers hope that the Plovdiv District Court's judgement against Sezony 91 and Invart will enable them to get back at least part of the outstanding liabilities.

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