Companies in the Pernik region owe BGN 51.6 million of social security contributions, the Regional Social Security Administration (RSSA) announced. The inspectors issued 125 penal decrees last year. By attaching companies’ bank accounts they managed to collect BGN 1,556,240. Another BGN 1,121,000 were paid in after the intervention of the State Receivables Collection Agency. Companies’ outstanding contributions rose by BGN 7 million in a year only. The big debtors to the RSSA are 52. The absolute leader is the bankrupt Stomana JSC, which owes BGN 24,779,000 of social contributions for its employees. Six other debtors were declared bankrupt.
Source: Standart (18.01.2005)

The company is included in the list of 50 top biggest debtors of NSSI, with a total amount of the obligations to December 31 2004 BGN 202 058 (principal and interests).
Source: Other (08.02.2005)

Agency for Government Claims (AGC) has signed a petition to the regional court in Pernik, southwestern Bulgaria, asking for the resuming of bankruptcy proceedings against Stomana AD, the PARI daily found out. The petition reads that Stomana had to repay BGN 11.358 million debts by January 10, 2001 and it have not done so since the present moment. Representatives of the regional court in Pernik said the hearings are scheduled for March 1 this year. Experts are astonished of the delay in AGC decision to resume the bankruptcy proceedings, which came after Stomana managed to sell all its assets to settle its debts to workers and some other creditors. At present it possesses only one building for which five tenders have been opened but no buyer turned up.
Source: Pari (22.02.2005)

The State Receivables Collection Agency (SRCA) has urged for the re-institution of insolvency proceedings against Pernik-based steel plant Stomana Industry, arguing that the company had defaulted on its recovery plan. The petition of the SRCA will be heard by the Pernik district court on March 1. Stomana Industry owes the state an aggregate of 11.3 mln levs, of which 10 mln levs are due to the National Social Security Institute (NSSI) and the remainder to the tax authorities. A recovery plan, which was adopted in 2000 and launched in May 2001, says that the company should dispose of its assets to cover outstanding liabilities. The plan does not set a deadline by which Stomana Industry should repay its debts to the NSSI, and since they were not re-scheduled, it had to do so as quickly as possible. The steel maker, however, failed to meet its obligations. The recovery plan expires in June. So far, the steel company has sold more than 90% of its assets. Initially, the company's assets were expected to fetch some 42 mln levs. According to unofficial information, however, some 50 mln levs have been pocketed. The bulk went to pay wage arrears and maintenance costs. Greek company Sidenor, part of the Viohalco industrial group, acquired Stomana's main production in 2001 for $13.5 mln, and set up the locally-registered Stomana Industry. In a parallel development, a number of manufacturing units were sold as self-contained parts.
Source: Dnevnik (23.02.2005)

Stomana JSC has overshoot its rehabilitation plan by more than BGN 20 million, the CEO of the Bulgarian company, Spas Hristov, said. Earlier this week the Agency for Government Claims said it would petition for bankruptcy of the company for default on the plan. The framework of the rehab programme is set at BGN 42.7 million. As a result of its implementation, the company received BGN 62.783 million from sale of assets, according to data by the end of 2004. The receipts were used mainly to satisfy creditors' claims. The BGN 11 million debt to TSBank was fully paid. The company also covered 97% of the BGN 746,000 wages due to workers. Stomana's public debts total BGN 11.358 million but the company transferred BGN 8.685 million to the National Social Security Institute, or 13% of the total receipts.
Source: Pari (25.02.2005)

The rehabilitation plan for Stomana JSC is already over-performed, from the company directors’ board reported . The plan’s framework is BGN 42.7 mln and up to this moment revenues from sales of assets have reached BGN 62.783. 20 per cent of all revenues were transferred to Trade and Savings Bank Sofia (insolvent), as it is a first class creditor, with a secured receivables. 97 per cent of second-class creditors’ receivables are satisfied. They include debts towards employees from the period of 3.6.1998 till the 3.6.1999, together with court debts. The sum estimated to satisfy third class creditors is BGN 11.358 mln.
Source: Monitor (25.02.2005)

USD 270 000 have been drained out of the Pernik-based Stomana by the leader of the local Euroroma political party Mr. Tzvetelin Kanchev. He is one of the biggest debtors of the insolvent company, Stomana’s lawyer Mr. Totyo Ivanov said. The company owned by Mr. Tzvetelin Kanchev – Florance 7, was supposed to implement the hydroinsulation of the premises of Stomana, under a contract signed in 1996. USD 270 000 have been cashed in advance for the purchase of materials. A year later, the contract between Florance 7 and Stomana was terminated due to the fact that Florance 7 was not executing its obligations. The money, however, was never returned. During his time in jail, Mr. Kanchev transferred the company to his wife. She had not property, neither money in a bank account, which could cover the debt. Stomana’s total uncollected receivables from debtors amount to BGN 1.5 mln.
Source: Black sea (28.02.2005)

Pernik District Court gave effect to the court case for the resumption of the insolvency procedures in Stomana JSC. The claim was filed by the State Receivables Collection Agency (SRCA), stating the metallurgical enterprise was not implementing its rehabilitation plan. The court panel yesterday set a seven-day term, within which SRCA’s executive director Mr. Stanislav Mihaylov should sent a new statement of claim, signed by him personally. The court motivated its decision explaining a comma was placed in front of the name of SRCA’s director signed under the statement of claim, submitted in court. No date was fixed for the next court session. The statement of claim explicitly says that according to Stomana’s rehabilitation plan, adopted by decision of Pernik District Court 274, dated July 10 2000, the claimed and approved public receivables of class A are in the amount of BGN 11 358 063.69 and should be repaid in full. The repayment term is not bound with the sell-off of Stomana JSC’s assets. Stomana’s insolvency proceedings were initiated by decision of Pernik District Court dated August 25 1999, and were terminated on July 21 2000. The company’s rehabilitation plan became effective on May 17 2001. In 2001, the Greek company Sidenor, a part of the Viohalco group, bought the main production of Stomana for USD 13.5 mln and established the Bulgarian company Stomana Industry.
Source: Pari (02.03.2005)

The European standards in the field of environment applied for companies operating in the field of extraction, production and processing of non-ferrous metals will turn out to be the biggest challenge in the branch. The privatization, before our country assumes its responsibilities and obligations towards EU, practically put the owners of such giants in the sectors as Kremikovtzi, The Lead and Zinc Plant in Kardjali, KCM – Plovdiv, Stomana – Pernik, etc., in a very unfavourable position. The investment and institutional expenditures necessary to fully implement EU legislation in the sphere of ecology, are estimated at around EUR 9 bln, where some 50 per cent of them will be invested by the business before the year 2015. Most of these funds are necessary to bring into effect the provisions of the so-called investment heavy directives, where those applied in the field of metallurgy have to do with reducing the emissions of harmful substances released in the atmosphere, as well as preventing and control of industrial pollution. The total amount of the necessary investments comes up to EUR 9 bln, where around 50 per cent of them should be assumed by the private sector within a period of around 10 years. In practice, ecological improvements in the metallurgical branch are related to significant investments due to be made within short periods of time. Most of the funds to be spent by companies over the next few years will be aimed at introducing the best available technologies. Thus, on one hand, they will meet ecological standards, and on the other, they will sharply improve the business parameters of local companies. The introduction of new technologies, guaranteeing environment protection, is related to heavy investments in general. A complex permit is necessary to this end. The document contains conditions for operation of the installations with a view of the effective use of natural resources, emissions in the atmosphere, waters and soil, as well as prevention of technical failures which could result in damages to the human health and the environment. The reduction of the financial burden on business has been stipulated in the transitional and conclusive regulations of the Environment Protection Act, according to which Bulgaria shall assume a part of the financial engagements of the privatized companies from the metallurgical sector. The introduction of new technologies and elimination of former pollution creates many inconveniences for local metallurgical industry. The total number of operating installations, which need complex permit to operate, so far is approximately 250, where more than 50 of them are from the metallurgical branch. The deadline for the issuing of this document for operating enterprises in the country is the October 30 2007. So far, only KCM – Plovdiv has been issued a complex permit. Umicore is currently in the procedure of issuing.The rest of the companies from the metallurgical branch have to submit applications no later than March 31. Applications for complex permit are submitted in the Environment Protection Executive Agency.
Source: Pari (31.03.2005)

Bulgaria's State Receivables Collection Agency (SRCA) collected BGN 180.905 mln last year, executive director, Mr. Stanislav Mihailov, said. This is by 20.4 per cent more compared with 2003 when revenues were BGN 150.234 mln. The biggest debtors in 2004 were Kremikovtzi, Stomana, Chimco-Vratza, Kamet-Pernik, and Varna Shipyards, Mihailov said. The bulk of the revenues - 65 per cent of the total amount, were effected from the collection of public state receivables. Last year they totaled BGN 118.438 mln or 20.5 per cent more than in 2003. Compulsorily collected taxes in 2004 were BGN 60.726 mln, and contributions due to the National Social Security Institute (NSSI) were BGN 28.501 mln. Debts to the customs collected were BGN 11.823 mln. BGN 42.291 of private state receivables were collected too. These include the receivables of the state under the Act on the Settlement of Non-Performing Loans (ZUNK), those of the closed State Reconstruction and Development Fund and State Energy Resources Fund, as well as of the State Agriculture Fund. These amounts received a year earlier were BGN 34.618 mln. The Companies' Insolvency Department collected BGN 14.494 mln in 2004, up by 6.72 per cent. As a whole, debts to the SRCA decreased, Mr. Mihailov said. The SRCA spent BGN 0.04 on the collection of every BGN 1 in 2004, while in 2003 it spent BGN 0.05.
Source: Dnevnik (05.04.2005)

Stomana JSC reported a first quarter profit of BGN 119 000. The revenues from sales amount to BGN 375 000, as they were BGN 170 000 y/y. the company reported a zero profit for the previous accounted period, as the growth of the net revenues from sales is not due to output disposal but to other activities.
Source: Pari (29.04.2005)

The Board of Directors of Stomana JSC - Pernik convenes an annual general meeting of the shareholders on July 20 2005.
Source: State Gazette (31.05.2005)

The Pernik District Court has to decide whether to resume the bankruptcy proceedings against Bulgaria's Stomana of Pernik within a month. The case was filed by the Agency for Government Claims (AGC). During Wednesday's hearings the court accepted the expert appraisal, which had to establish what debts the company had paid. According to the state debt collector, Stomana has not serviced its BGN 11.358 million public debt as agreed in the rehabilitation programme. The expert appraisal, however, shows that the company has not yet paid only 12.73% of the creditors' receivables, which amount to a total of BGN 69.895 million. Stomana has transferred BGN 2.260 million to the National Social Security Institute and has paid all social insurance contributions and wages due to laid-off workers. Nevertheless, AGC continues to demand resumption of the bankruptcy proceedings.
Source: Pari (09.06.2005)

The Supervisory Board of the National Social Security Institute (NSSI) has rescheduled obligations of the some of its debtors. Professional Football Club-CSKA is among them, which owed some BGN 600,000 but has paid half of the amount, and a rescheduling scheme has been adopted for the rest BGN 374,000. Stroitelstvo & Vazstanovyavane of Stara Zagora has also agreed the sinking plan. FSC has approved a recovery plan for Chimco JSC – Vratsa. To the end of April there are some BGN 165 mln owed to the institute. The bigger debtors are Kremikovtzi JSC and Stomana JSC – Pernik, but both of them have got sinking plans. The following companies in the list are Besttechnica TM - Radomir JSC, Vidachim JSC, and Mines-Bobov Dol.
Source: Sega (13.06.2005)

Pernik District Court registered changes for Stomana JSC – Pernik: Mrs. Violeta Borisova Manolova and Mr. Tzvetan Stefanov Bankov, are dismissed as syndics of Stomana JSC.
Source: State Gazette (08.07.2005)

COURT DECLARES STOMANA AD BANKRUPT Pernik Regional Court declared Bulgaria's Stomana JSC bankrupt by decision of July 7. The powers of the company's management bodies were terminated. Stomana has no right to dispose with its assets. The court ruling is based on the claim submitted by the Agency for Government Claims for renewing the insolvency proceedings against Stomana. The motive is that Stomana does not meet its payment obligations to the state under the recovery plan approved by the court. On July 12, the court reinstated Stomana's receiver Violeta Manolova to carry out the bankruptcy procedure.
Source: Pari (14.07.2005)

Bulgarian steel plant Stomana adjudicated bankrupt Steel maker Stomana AD was adjudicated bankrupt by the Pernik regional court on July 7, the Bulgarian Stock Exchange said on Thursday, July 21. The court has issued a general injunction against disposition of Stomana property and stayed executory process against property of the plant. The court has also ordered to realise the assets of the debtor that are part of the bankruptcy estate. The court decisions should be executed immediately. The court has also reinstalled the functions of the bailiff Ms. Violeta Manolova. The insolvency proceedings against Stomana were initiated on a petition from the State Receivables Collection Agency (SRCA) lodged in February 2005. The agency argued that the company had defaulted on its recovery plan. At the time, Stomana's dues to the state were estimated at 11.3 mln levs, of which 10 mln levs are due to the National Social Security Institute and the remainder to the tax authorities. A recovery plan, which was adopted in 2000 and launched in May 2001, says that the company should dispose of its assets to cover outstanding liabilities. The recovery plan expired in June. So far, the steel company has sold more than 90% of its assets. Initially, the company's assets were expected to fetch some 42 mln levs. According to unofficial information, however, some 50 mln levs have been pocketed. The bulk went to pay wage arrears and maintenance costs. Greek company Sidenor, part of the Viohalco industrial group, acquired Stomana's main production in 2001 for $13.5 mln, and set up the locally-registered Stomana Industry. In a parallel development, a number of manufacturing units were sold as self-contained parts.
Source: Dnevnik (22.07.2005)

CORRECTION to Stomana Industry news item On July 22, Dnevnik a.m. incorrectly reported that Bulgarian steel plant Stomana Industry had been declared insolvent. The cited insolvency ruling concerned another local company, Stomana AD. Dnevnik a.m. apologises for the unintentional mistake. A press release from Stomana Industry and a corrected version of the story follow. PRESS RELEASE Several articles that appeared in the Bulgarian press in the last couple of days, erroneously reported that steel company Stomana Industry AD has been declared insolvent. Stomana Industry is a private, financially stable corporation founded in 2001 when Sidenor SA, Greece'e biggest steel maker, bought the core production facilities of former state-owned company Stomana AD in pursuance of a recovery plan. The storied insolvency ruling concerns the liquidation of the former state-owned company Stomana AD and is in no way related to Stomana Industry AD. * * * Bulgarian steel plant Stomana adjudicated bankrupt Steel maker Stomana AD was adjudicated bankrupt by the Pernik regional court on July 7, the Bulgarian Stock Exchange said on Thursday, July 21. The court has issued a general injunction against disposition of Stomana property and stayed executory process against property of the plant. The court has also ordered to realise the assets of the debtor that are part of the bankruptcy estate. The court decisions should be executed immediately. The court has also reinstalled the functions of the bailiff Ms. Violeta Manolova. The insolvency proceedings against Stomana were initiated on a petition from the State Receivables Collection Agency (SRCA) lodged in February 2005. The agency argued that the company had defaulted on its recovery plan. At the time, Stomana's dues to the state were estimated at 11.3 mln levs, of which 10 mln levs are due to the National Social Security Institute and the remainder to the tax authorities. A recovery plan, which was adopted in 2000 and launched in May 2001, says that the company should dispose of its assets to cover outstanding liabilities. The recovery plan expired in June. So far, the steel company has sold more than 90% of its assets. Initially, the company's assets were expected to fetch some 42 mln levs. According to unofficial information, however, some 50 mln levs have been pocketed. The bulk went to pay wage arrears and maintenance costs. Greek company Sidenor, part of the Viohalco industrial group, acquired Stomana's main production in 2001 for $13.5 mln, and set up the locally-registered Stomana Industry. In a parallel development, a number of manufacturing units were sold as self-contained parts.
Source: Dnevnik (26.07.2005)

Stomana JSC - Pernik, Bourse code STOM, /in insolvency/, the General Meeting of which was held on July 20 2005, shall not distribute dividends for 2004. Stomana JSC - Pernik reported a profit to the amount of BGN 69,467,000.
Source: Capital market (12.08.2005)

Pernik District Court allows the syndic of Stomana JSC - Pernik /bankrupt/ to dispose company’s funds; convenes general meeting of the creditors on September 16, 2005.
Source: State Gazette (16.08.2005)

Pernik District Court registered the following changes for Stomana JSC - Pernik /bankrupt/: 1. Restores the bankruptcy procedure for Stomana JSC - Pernik 2. Terminates the authorization of the bodies of the debtor 3. Deprives the debtor of the right to dispose company’s property included in the bankruptcy mass 4. Constitutes the start of cashing debtor’s property included in the bankruptcy mass and its allocation by the syndic.
Source: State Gazette (16.08.2005)

Promet Steel Invests EUR 35 mln in New Capacities The building of the metallurgical plant Promet in Debelt was one of the most ambitious undertakings in the times of late socialism. Back then, the ruling government thought that heavy industry should be the base of the country’s economy. The building of the enterprise commenced in the early 80s. In 1988, it started actual operations. The idea was the new metallurgical facility to completely replace Kremikovtzi and the former Stomana-Pernik. Therefore, the plant near Debelt became also known as the third metallurgical base in Bulgaria. It was built on an area of 9000 decares. Besides steel producing capacities and hot rolling loom 300, a sheet iron producing loom was also to be installed, as well as develop other metallurgical productions. Consequently, however, only one hot rolling loom 300 (for production of fixture and shaped iron) was built. The main problem facing the plant is that when it was built, it did not dispose of any extraction capacities. In order to be able to produce output, Promet Steel buys raw materials either from abroad or from the two metallurgical plants in Bulgaria – Kremikovtzi and Stomana. Promet processes the materials and sells them. In order to be able to fully close the production cycle and establish Promet Steel as an independent player on international markets, not influenced by market prices, the plant should build its own steel producing capacities, i.e. electric furnace for continuous casting. Only recently, we organized a competition for the building of new production capacities, Promet Steel managers explained. Out of all offers, we chose the one submitted by Austria’s Voest Alpine. This is the Mercedes of the industry, Mr. Miroslav Borisov, CEO of Promet Steel, proudly said. According to him, a preliminary written statement has already been signed, certifying that the two parties are ready to proceed to the signing of actual contract. The subject of the contract will be delivery of electric furnace for continuous steel casting with a capacity of 600 000 t annually. The building of the new production facility is supposed to be commenced in the end of this year and to be completed in a year and a half. Alongside, the company is also planning to build a line for production of round fixture iron with different diameter using the latest technology. This will allow the plant to reach its optimum of 800 000 – 1 000 000 steel annually worth about USD 600 mln. If we compare the volume of the production of other steel plants, we will be at the level of Kremikovtzi, Mr. Miroslav Borisov was proud to say. The line is very economical and saves a lot of resources. The whole investment for the purchase and building of the electric furnace and this line amounts to nearly UER 35 mln. This is the biggest investment in this field in the region. 300 new jobs are to be created, following the launching of the new facility. The so-called slitting process has already been introduced in Promet Steel. This is a modern technology, allowing the production of 2 instead of 1 fixture rods per one time unit. Furthermore, it reduces costs. The goal is to reach production output of 3 rods simultaneously, the managers explained. Through the implementation of major investments over the past couple of years,Promet Steel became a modern and competitive European plant. The former pearl of socialism is now making an actual promise to become the new Bulgarian metallurgical giant.
Source: Pari (19.08.2005)

50 Companies Owe over BGN 160 mln in Social Security By June 30, 2005 the total obligations of the 50 biggest debtors to Bulgaria's social security fund stand at BGN 161.256 million, the National Social Security Institute said. The sum includes both principal and interest. The obligations decreased by BGN 3.703 million compared to end-April. Steel mill Kremikovtsi is at the top of the debtors' list and a repayment plan was adopted for the company. Another steel mill, Stomana of Pernik, is second. Both a repayment plan and a recovery programme were adopted for part of the company's obligations. Heavy machine-building company Besttehnika TM of Radomir and chemical company Vidachim are third and fourth. Their obligations will be force-collected by the Agency for Government Claims.
Source: Pari (22.08.2005)

Pernik District Court registered the following changes for Stomana JSC - Pernik /bankrupt/: 1. Declares Stomana JSC - Pernik bankrupt 2. Terminates the activity of the debtor Stomana JSC - Pernik 3. Constitutes general ban and distraint over company’s property 4. Terminates the authorization of the bodies of the debtor Stomana JSC - Pernik 5. Deprives the debtor of the right to dispose company’s property included in the bankruptcy mass 6. Constitutes the start of cashing debtor’s property included in the bankruptcy mass and its allocation by the syndic.
Source: State Gazette (23.08.2005)

Pernik District Court registered the following change for Stomana JSC - Pernik /bankrupt/: Restores the functions of the syndic Ms. Violeta Borissova Manolova as of July 12, 2005.
Source: State Gazette (23.08.2005)

The assets of the Pernik-based smelter Stomana JSC will be sold out through auctions by self-contained parts, the general meeting of the company’s creditors decided on Friday. According to the insolvent company’s assignee, Ms. Violeta Manolova, the company has four real estates and short-term fixed assets, including machinery and computers. The company’s production has been entirely transferred to Stomana Industry JSC.
Source: Dnevnik (17.09.2005)

Bourgas Port left with one ship only Bourgas port was left with a single ship. Cargo turnover was down to nearly zero. Over the past 48 hours, only the Turkish vessel Antakia entered the port. The ship unloaded metal rollons, workers told us. A couple of days ago, two vessels entered the port. The port’s management refused to disclose the amount of cargo turnover last week. According to sources familiar with the matter, cargo processing has been sluggish over the past few months. The number of ships entering Bourgas port has decreased drastically as well. Specialists think that this is a very bad publicity for our country’s economy. Stomana Industry*, which was one of the main contractors of the port, already prefers to transport its production to Greece by trucks. The warehouses and shops of the Bourgas port are almost empty. Unlike other years, this autumn there are no storages of grain even The new cargo terminal is also deserted. The previous expectations it would return the millions of euro invested in it, were not justified.
Source: Standart (04.10.2005)

Waters of Sruma river polluted in Pernik The waters of the Struma river were poluted in the Humni dol district in Pernik. The signal was received yesterday about 15:30 PM, the local Civil Defence service announced. A team of the Civil Defence direction and the Waters unit at the Regional Inspection of Environment and Waters in Sofia checked the river valley yesterday and found that the pollution comes from a lime making workshop operated by Stomana of Pernik. The workshop will be inspected today.
Source: Other (10.10.2005)

Ms. Violeta Borissova Manolova – the syndic of Stomana JSC - Pernik /bankrupt/, would like to announce that the lists of the company’s creditors are prepared and are presented in the office of the Pernik District Court.
Source: State Gazette (14.10.2005)

The company is included in the list of 50 top biggest debtors of The National Social Security Institute, with a total amount of the obligations to 30 September 2005 BGN 158 028 000 (principal and interests). The company is included in the list 2 Stomana JSC - Pernik 3 Besttechnica TM - Radomir JSC - Radomir
Source: Other (24.11.2005)

Wages at big companies rise fastest Wages at the 350 companies the National Social Security Institute (NSSI) reported as the most law-abiding employers have increased by 6-10 per cent on average. The growth is for the first nine months of 2005. The prestigious list includes the companies which pay the highest insurance income. This means the owners do not underreport employees’ remuneration and pay social insurance contributions in full. These companies the NSSI calls ‘the most law-abiding’ companies. For the first time, this year the biggest companies reported the highest rise. Analysts say pay increase follows the rise in labour efficiency. Nominally the average productivity has jumped by some 8 per cent over the first six months of the year. I suppose the rise for the entire 2005 will be within this range, Mr. Georgi Stoev from Industry Watch said. In his words however, the wage growth in smaller companies may not be reported correctly, as they are more flexible in concealing labour costs. Generally, there is no lasting reason for the wages in one and the same industry to rise at a different speed for small and for big companies, he commented. Surprisingly, the biggest percentage increase in wages was reported in the biggest companies – employing more than 1,000 people. The insurance income at these companies rose by 9.9 per cent to BGN 599 from January to September. The main reason was the job cuts from 180,000 to 112,000, along with the output increase. This group includes the big manufacturing companies – the telecoms Bulgarian Telecommunication Company and Mobiltel, the industrial giants Ideal Standard, Vidima, NPP Kozloduy, Stomana Industry, Asarel Medet, Plovdiv-based Combine for Non-ferrous Metals, etc. The fifty biggest debtors to the NSSI did not pay in a total of BGN 158 mln of principals and interests compared to BGN 165 mln three months ago. Traditionally, the list is topped by Kremikovtzi metal works, which however, has a payment scheme the company performs. Pernik-based Stomana and Besttechnica of Radomir rank next. The latter is among the leaders of another “black list” – the one of the National Health Insurance Fund’s debtors. The total amount of debts of the 50 most irresponsible employers to the Health Insurance Fund for the nine months of the year is BGN 12.6 mln, as much as at the end of June. Usually these are municipalities or bankrupt companies, most of which are mines.
Source: Dnevnik (28.11.2005)

Ms. Violeta Borissova Manolova – the syndic of Stomana JSC - Pernik /bankrupt/, would like to announce that the prepared lists of the additionally claimed receipts have been presented and may be found in the office of the Pernik District Court.
Source: State Gazette (20.12.2005)