Finance Minister Milen Velchev is the new Chairman of the Board of Directors of the Bank Consolidation Company (BCC). All procedures for registration in court of the changes in BCC's management were concluded on August 8.
Jean-Marc Peterschmid was released of his office as representative of the European Bank for Reconstruction and Development in Bulgaria. He was replaced in the beginning of August by John Shomel-Dough.
Lyubomir Pavlov, Chairman of the Supervisory Board of Sofia Municipal Bank, who had a serious car accident two weeks ago, is already conscious. The banker's treatment by medicines is almost over. Mr. Pavlov is soon going back to normal food. According to doctors, however, the head of Sofia Municipal Bank's Supervisory Board should stay for at least two more weeks in Pirogov where he was hospitalized ten days ago.