Smartpartners-BG Ltd. – the developer of The Orchard, Bansko- have been declared bankrupt by Sofia City Court on 18.01.2012. The court resolution is sent by the court to the Commercial Register for announcing. It will be officially announced probably next week.

You can download the court decision in Bulgarian language from this link [PDF -1.1 MB].

As from the moment of announcing the court resolution, all creditors will have 1 month to present their claims to the administrator (through court). The court will review and decide whether to join the creditors or not. If they are allowed to join, they will benefit from all assets that are cashed by the administrator.

 

Read more solicitor advice here:


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