Expats

Bulgaria Wins Concession as EU Agrees on Bank Capital Rules [May 17, 2012] European Union finance ministers have addressed Bulgarian concerns as they agreed on a plan to force banks to hold more capital to counter their risk-taking. After Bulgaria voiced concerns that banks may be forced to hold more capital against the country's sovereign debt, the EU ministers decided that banks in the country will not be obliged to report as risky the assets they hold in euros and ... [via YahooNews] More >>

Ambassadors Laud Bulgaria's New Illegal Assets Bill [May 07, 2012] Six ambassadors to Bulgaria lauded Monday the newly passed illegal assets confiscation bill, cautioning that the next step was to ensure its smooth implementation by an independent and strong commission. The diplomats shared their views on the new law during Monday's morning broadcast of the Bulgarian National Television (BNT). The ambassadors vowed to follow closely the formation of the ... [via YahooNews] More >>

Bulgaria approves asset seizure law [May 05, 2012] Bulgaria has adopted a law that allows suspected illegal assets to be confiscated from people charged but not yet convicted of a serious crime. [via YahooNews] More >>

Bulgaria adopts confiscation law to fight graft [May 04, 2012] Bulgaria has adopted a law that allows suspected illegal assets to be confiscated from people charged but not yet convicted of a serious crime, with the aim of fighting widespread graft and organized crime. [via YahooNews] More >>

Bulgaria Passes Controversial Illegal Assets Law in Dark of Night [Apr 27, 2012] Bulgaria's ruling majority in parliament adopted a controversial bill authorizing confiscation of illegal assets minutes before midnight on Thursday, but surprisingly banned anonymous tip-offs. Bulgarian authorities will have the right to launch probes and seize unexplained wealth, worth more than BGN 150,000 which has been acquired over the last 15 years under the draft law, the MPs decided ... [via YahooNews] More >>

Bulgaria under EU Pressure over Illegal Assets Bill [Apr 10, 2012] Bulgaria's rulers are in a hurry to adopt the bill authorizing widespread confiscation of illegal assets in a bid to please Brussels ahead of its upcoming report on the country's progress in justice and home affairs, insiders say. The ruling majority in parliament will seek to pass the long-delayed bill by the beginning of May, when a delegation of the European Commission will arrive in the ... [via YahooNews] More >>

Bulgaria Illegal Assets Law to Target Parties Too - Report [Mar 28, 2012] Bulgaria's long-delayed bill authorizing widespread confiscation of illegal assets will probe the financing of parties, as well as participants in public procurements, insiders say. "The ruling GERB party is preparing on the sly serious changes to the bill in between the first and second readings," the opposition-leaning Sega daily reported on Wednesday, citing well-informed sources. For the ... [via YahooNews] More >>

Bulgaria to Boast Illegal Asset Forfeiture Law by Easter [Mar 06, 2012] Amendments to the long-delayed bill authorizing widespread confiscation of illegally obtained assets are expected to be conclusively adopted by Bulgaria's parliament by Easter. "We are currently between the first and second reading of the bill. We have made proposals for changes to some of the texts, but the general concept remains the same.... [via YahooNews] More >>

Bulgaria's Retirement Funds' Assets Grow by 15% to BGN 4.5 B [Feb 24, 2012] The assets of Bulgaria's retirement funds grew by 14.68% in 2011 year-on-year, a report of the Bulgarian Financial Supervision Commission shows. The preliminary results about the private retirement funds in Bulgaria are based on their financial reports to the FSC. ... [via YahooNews] More >>

Bulgaria MPs to Start 2012 with Long-Delayed Key Bills in Pipeline [Jan 10, 2012] Bulgaria's first parliamentary session for the new year, due on Wednesday, is hoped to map out the timeline for implementing key and long-delayed reforms, including the much touted crack-down on illegal assets. Officially, the ruling majority have vowed to implement this year radical reforms in the field of education, health and judiciary. At the end of 2011 Bulgaria's Deputy Prime Minister and ... [via YahooNews] More >>

Bulgaria Hopes for BGN 100 M from Railway Freight Services Sale [Dec 23, 2011] Bulgaria's government hopes to make over BGN 100 M from the sale of BDZ Freight Services, the cargo subdivision of the troubled Bulgarian State Railways (BDZ), according to Transport Minister Ivaylo Moskovski. Moskovski has recently engineered and defended the plan to sell BDZ Freight Services, whose assets are worth BGN 300-320 M, in order to raise cash as a guarantee for an expected World Bank ... [via YahooNews] More >>

Bulgaria Likely to Soften Crack-Down on Illegal Assets [Nov 11, 2011] Bulgarian authorities are likely to have the right to launch probes and seize without a conviction unexplained wealth, worth more than BGN 150,000, which has been acquired only over the last five years. This is envisaged by amendments, currently in the pipeline, to the long-delayed bill authorizing widespread confiscation of illegally obtained assets, according to insiders. The majority in ... [via YahooNews] More >>

Bulgaria Freezes Assets of Self-Proclaimed Roma Tsar [Sep 28, 2011] Bulgarian authorities have frozen assets and property of a notorious self-proclaimed Roma tsar and an alleged mastermind of a murder while he is investigated on tax evasion charges, the revenues agency has said. Kiril Rashkov is believed to have been transported late on Monday to Bulgaria's capital Sofia after his Roma clan sparked unprecedented ethnic tensions in the country. The so-called ... [via YahooNews] More >>

Bulgaria Confirms: New Owner to Resell Bulgarbatac [Sep 27, 2011] Russia's second-biggest bank VTB, which recently acquired a majority stake in Bulgaria's cigarette maker Bulgartabac, is highly likely to resell the holding's assets, the economy minister has said, confirming earlier media reports. "This may happen any minute as the contract bans the resale of the holding in the next ten years, but does not ban a change in the ownership of the new owner BT ... [via YahooNews] More >>

Bulgaria Anti-Trust Watchdog to Probe Print Media Market [Aug 11, 2011] Bulgaria's anti-trust commission will launch a probe into a possible newspaper monopoly, the first of its kind in the country. The news comes shortly after the purchase of a large number of titles by media mogul Irena Krasteva and the recent squabbles over ownership of the WAZ assets in Bulgaria ? the first ever monopolist on the local media market, dating back to the 90s - left a bitter taste ... [via YahooNews] More >>

Bulgaria rejects bill to seize criminal assets [Jul 09, 2011] AFP/Sofia Bulgaria?s parliament has rejected a controversial bill that would have allowed the state to seize assets resulting from criminal activities or administrative offences before a legal verdict. [via YahooNews] More >>

Bulgaria rejects disputed bill to seize criminal assets [Jul 08, 2011] (SOFIA ) - Bulgaria's parliament on Friday rejected a controversial bill that would have allowed the state to seize assets resulting from criminal activities or administrative offences before a legal verdict. [via YahooNews] More >>

Bulgaria Foolishly Fails over Tougher Crack-Down on Illegal Assets [Jul 08, 2011] The majority in Bulgaria's parliament has surprisingly failed to pass through a long-delayed and keenly expected bill, authorizing widespread confiscation of illegally obtained assets without a conviction. The draft law, initiated by Bulgaria's Justice Minister Margarita Popova and widely touted by the ruling party as a powerful tool in crime and corruption combat, was supported on Friday by ... [via YahooNews] More >>

Bulgaria Justice Minister 'Let Down' in Corruption Combat [Jul 08, 2011] Bulgaria's Justice Minister Margarita Popova did not hide her disappointment after parliament rejected a bill for a tougher crack-down on illegal assets, initiated by her and backed by Brussels. The bill was hampered by the minister's party members in parliament, most of whom just did not turn up for the crucial vote. The draft can be tabled in parliament again after three months at the earliest ... [via YahooNews] More >>

Bulgaria Debates Tougher Crack-Down on Illegal Assets [Jul 06, 2011] Bulgaria's parliament is scheduled to debate this week a long-delayed bill authorizing widespread confiscation of illegally obtained assets without a conviction. Bulgarian authorities are likely to have the right to seize unexplained wealth, worth more than BGN 150,000, without a conviction as of January 1, 2012, when the law is expected to enter into force. The Council of Europe's Venice ... [via YahooNews] More >>