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News: Bulgaria >> South-Central region >> Plovdiv district >> Plovdiv-city municipality >> City of Plovdiv>> FSC forbids Bulgarska Roza Plovdiv to write down or divest of assets

News and Articles related to City of Plovdiv
Current date: 2010-02-09 06:39

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FSC forbids Bulgarska Roza Plovdiv to write down or divest of assets

Business: Wednesday, 2009-11-11 07:00
Article by: Pari Daily

The Financial Supervision Commission (FSC) has forbidden Bulgarska Roza Plovdiv to write down or divest of assets. The arguments for the compulsory administrative measure are not clear, because the decision has not been posted on FSC`s website.

At a general meeting on June 26, 2009 the company`s shareholders authorised the board of directors to arrange the write-off and sale of assets and use the receipts for payments to creditors. The decision was later rejected by the watchdog.

According to the company`s report for the first nine months of 2009, however, Bulgarska Roza has already sold part of its assets. Bulgarska Roza reported a BGN 128 thous loss for Jan-Sep. Turnover amounted to BGN 117 thous, including BGN 39 thous financing from State Agriculture Fund.

Scope: City of Plovdiv;

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