Bulgarian President Rumen Radev has vetoed the amendments to the Bank Bankruptcy Act adopted on February 9, 2018.
The President supports efforts of the National Assembly for greater efficiency when it came to protection of social interest in cases of bank bankruptcy proceedings.According to him, however, in violation of the rule of law changes would reverse legal consequences, acquired rights and obligations. Society needs to know the concrete dimensions of the consequences of the adopted law, the President said.
The draft amendments to the law were announced as a measure against the secondary plundering of the assets of bankrupt CCB, as changes were proposed by the DPS party. The CCB license was withdrawn by the BNB in November 2014.
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