The minister defined the situation as another blow for DCK, in which the state is potentially damaged by BGN 97 million. He clarified that it is a question of cessions that DCK acquired in 2018 in a contract with the Malaz company. These cessions were acquired by KTB through companies in the orbit of the bank, including the company “Kemira”, which accumulated these liabilities, which were subsequently acquired by DCK. The contract between “Malaz” and DCK for the acquisition of receivables is worth BGN 97.4 million. Against this amount, DCK paid “Malaz” BGN 24.352 million.
He pointed out that after checking, it appears that on January 8, 2018, the ministry received a report from the DCC of one and a half pages, and it said that the DCC wanted to start negotiations with a potential seller of the obligations in question. One day after that, DCC made a decision to acquire the liabilities and in a new report to the minister, permission was requested to sign the contract for the assignment, the minister explained the chronology. The permission was received at the end of the day – on January 10.
The minister pointed out as extremely worrying the fact that in two days the state decided to acquire a liability of BGN 97 million. “On January 10, DCC received the minister’s signature. The funds were paid in two tranches – in January and in mid-February (BGN 25 million). This is how a debt of BGN 97 million was acquired, which is currently on the balance sheet of DCC”, Minister Bogdanov explained.
The Minister of Economy explained that DCK lost the case because it failed to show the necessary documents, which are grounds to prove its claim against Kemira. “The Ministry of Economy and Industry and the DCC lack the cession contract, as well as other related documents,” Bogdanov specified.
“With the legal team of DCC, we are discussing the next steps that we will take. We must be aware of the possible risks for the company,” commented the minister. At the moment, in the case, the state-owned company must pay a fee in the amount of BGN 750,000. Bogdanov specified, that if a decision is taken to appeal, the amount will increase to 1.5 million.
The minister announced that already today, based on the court’s decision, the DANS and the prosecutor’s office will be referred – on the one hand, because of the lack of documents, and on the other, to establish how a document without a signature gave rise to a legal basis.
Regarding the unrealized government complex, Minister Bogdanov announced that, together with the management of the DCC, they requested the recovery of certain funds from the contractor, amounting to BGN 66 million, and which were paid in advance without a public order. In the next week, an answer is expected regarding the return of the amount to the account of “Montazhi” EAD and from there to DCC. “It is necessary for this to happen as a matter of urgency, because of the interest that flows every day,” said Bogdanov. We remind you that for the advance payment of over BGN 80 million for a new government complex, DCC uses a loan from the Bulgarian Development Bank and pays millions in interest per year.
Minister Bogdanov also reported on the work done by the new management of the DCC for the last two months. According to him, the companies of which the company is the principal already have prepared business programs, the financial statements for 2021 and 2022 have been prepared. He announced that the competitions for a new management team are coming, ensuring transparency in their conduct.
According to him, nearly BGN 700 million are the potential financial damages for DCK so far. They include the losses for the repairs and reconstructions of the dams, for the unrealized government complex, for the framework contract for the acquisition of receivables and shareholdings between DCK and Malaz EOOD, as well as for the costs of the case filed in the case.
