Since March 20 of this year, „Bulgartabac“ has not paid its loan to the Bulgarian Development Bank – this is claimed by 2 independent sources of the Civil Movement „BOEC“, namely – from the Bulgarian Development Bank and the Ministry of Innovation and Growth. The union adds that instead of paying, the borrower „Industrial Solutions and Technologies“ offers the company to transfer all the collateral on the loan to the bank, which in turn forecloses the loan. They trade debt for property.
In such transactions, in a typical situation, the bank acquires the properties and forgives the loan. In this case, however, it is not clear at what valuation the bank will receive the mortgaged properties, what it will do with them and whether it will subsequently sell them back to the debtors for a much smaller amount.
The loan is for BGN 150 million, and the real value of the collateral hardly exceeds BGN 100 million, according to „BOEC“ sources. If the bank accepts it for the full amount of the loan, and later fails to sell it for more than its real value, it will in fact realize a loss of BGN 50 million, and Peevski will not have a single BGN of obligations, even though he used the loan completely.
The civil movement recalls that, according to data released by acting minister Kiril Petkov in the summer of 2021, the loans granted to Peevski’s companies have long grace periods, in which only the interest is paid, but not the principal of the obligations to the state of Bulgaria development bank. I.e. little or no part of the debt has been repaid so far, and if the exchange takes place, the borrower will simply be out of it. Almost for free, while the Bulgarian Development Bank will pay for the unprofitable deal, realizing losses of tens of millions.
„At the beginning of last year, „BOEC“ revealed that it was Kiril Petkov who left Zhivko Todorov /former head of FIB and Peevski’s man/ with a BGN 30,000 salary in the management of the Bulgarian Development Bank, and we forced Todorov to resign. Then we requested a revaluation of all assets presented as collateral for Peevski’s loans and that they become due early. That didn’t happen. The office of Rumen Radev made changes in the management of the BBR, with which control was taken over again by people close to GERB and DPS“, the movement also reminds and asks:
„Is this the price for Peevski’s support to the new government – the forgiveness of 150 million BGN, for starters?“
BOEC will refer this crime to the parliament and the competent institutions today.
