Bulgaria's cbank to appeal date of Corpbank's insolvency

April 24, 2015 12:28 PM

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SOFIA, April 24 (Reuters) - The Bulgarian central bank said it will challenge a court decision setting the date of insolvency of Corporate Commercial Bank (Corpbank) which could be important to recovering assets.

Corpbank collapsed in June, after a bank run triggering the biggest banking crisis in the Bulgaria since the 1990s. An independent audit of its books showed serious failings in the way it was run that prompted central bank administrators at the lender to write off two thirds of its assets.

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