On grounds of Art. 31, para. 1, item 17 of the Law on Bank Bankruptcy (LBB) the Management Board of the Bulgarian Deposit Insurance Fund proposed to the receivers of the Corporate Commercial Bank AD (in bankruptcy) (“KTB AD (in bankruptcy)”) to conclude a contract with AlixPartners Services UK LLP - a forensic company with international experience in investigating bank failures.
According to the LBB with the contract AlixPartners Services UK LLP will be appointed to perform activities to trace KTB assets and recommend to the receivers actions to preserve and replenish the bankruptcy estate in respect of assets which KTB has disposed of in breach of the law, good banking practices, and/or when the consideration is excessive in terms of what was received, or receivable, in respect of such consideration, as well as cases with credits granted with insufficient or missing collateral, or to related parties, when those actions and transactions have been detrimental to the Bank’s financial position
AlixPartners
AlixPartners is a leading global multi-disciplinary advisory firm. The AlixPartners Financial Advisory Services practice has world-leading experience in forensic investigation, asset recovery and litigation support, and has achieved important successes recovering value across multiple and complex jurisdictions. The team has conducted investigations in more than 40 countries, covering all regions of the world, using their market-leading forensic, E-discovery, data mining and analytics technologies. AlixPartners has particularly strong experience in assignments related to banks and other financial institutions involving allegations of fraud.
More information can be found at www.alixpartners.com
Back According to the LBB with the contract AlixPartners Services UK LLP will be appointed to perform activities to trace KTB assets and recommend to the receivers actions to preserve and replenish the bankruptcy estate in respect of assets which KTB has disposed of in breach of the law, good banking practices, and/or when the consideration is excessive in terms of what was received, or receivable, in respect of such consideration, as well as cases with credits granted with insufficient or missing collateral, or to related parties, when those actions and transactions have been detrimental to the Bank’s financial position
AlixPartners
AlixPartners is a leading global multi-disciplinary advisory firm. The AlixPartners Financial Advisory Services practice has world-leading experience in forensic investigation, asset recovery and litigation support, and has achieved important successes recovering value across multiple and complex jurisdictions. The team has conducted investigations in more than 40 countries, covering all regions of the world, using their market-leading forensic, E-discovery, data mining and analytics technologies. AlixPartners has particularly strong experience in assignments related to banks and other financial institutions involving allegations of fraud.
More information can be found at www.alixpartners.com