16.07.2014
The political class in Bulgaria once again convincingly proved able to create crises. We are not surprised by the fact that the days politicians have proposed and discussed any meaningful and workable proposal for the liquidation of the causes and dealing with the consequences of the crisis in Corporate Commercial Bank. And that instead of protecting the interests of municipalities, hospitals, theaters, schools, universities, companies and other legal entities, investors in CCB, they deal with the redistribution of the assets of that bank.
Not overlook the reasons that led to the present state of anxiety in our society, we, the members of the BIA explicitly declare that we will not accept any decision in respect of CCB, which has been in a complete fog and without the participation of interested investors, who are also creditors of the bank. Lack of reliable information on the state of the CCB is not in the public interest and will surely lead to wrong decisions with irreversible consequences for the part of depositors.
Therefore, the Board of the BIA strongly urges all authorities of the State having competence in clarifying the actual condition of the CCB and taking decisions to protect the banking system and its customers to meet the expectations of society, the necessary changes in the existing laws to ensure that:
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All information about the state of the CCB will be given to all creditors of the bank at a general meeting convened by conservators in the shortest time;
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Private 'Guarantee Fund holdings of citizens' will be used only in accordance with its objectives and strict control of banks depositors in it;
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All commercial banks in the country will offer customers CCB contracts for assignment of receivables from troubled banks amounted to the equivalent of up to 100 thousand euros. They will find a deposit of the name of the client and it will become a creditor of the CCB, and their claims will be guaranteed by the Fund.
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Creditors, which must be included in banks 3 and shareholders of CCB, have the right to entrust the team elected by the general meeting of creditors to develop a recovery plan and schedule the next General Assembly for its consideration and adoption.
- The adopted recovery plan will be binding on all creditors. This plan and all other plans can not commit public funds to solve any liquidity problems CCB.
Board of BIA, without neglecting the intellectual capabilities of the Bulgarian politicians solely with the understanding that free citizens have the right to provide for their own defense of its interests, appealed to all state authorities not to allow themselves to seize the sovereign rights and decide the fate of the CCB instead interested creditors of the bank.
Board of BIA
