BULGARIA’S PARLIAMENT APPROVED THE REPORT ON CORPBANK TO BE MADE PUBLIC

On 14th of April, the Bulgarian MPs approved at second reading the amendments to the law on bank insolvency, paving the way for declassification of the report by the consultancy firm AlixPatners on the insolvency of Corporate Commercial Bank.

The amendments, proposed by Bulgarian MPs envisage the temporary receivers to publish the report on their website, regardless of the agreed confidentiality clauses. According to the MPs, the changes became necessary because of the public interest for making the conclusions of the report publicly available.

Currently, the report is available in the secret registry of the Bulgarian Parliament and is accessible to the lawmakers, but not to the general public.