Bulsatcom facing bankruptcy
DECEMBER 10, 2021 10.48 EUROPE/LONDON BY CHRIS DZIADUL

Bulgaria’s leading pay-TV operator Bulsatcom is facing the prospect of bankruptcy.

Capital> reports that last summer its current shareholders and creditors announced Saps Rusev as their preferred buyer with an offer of €120 million for the company.

However, Plamen Genchev, Bulsatcom’s founder and a minority shareholder, claims that his has been illegally stopped from regaining control of the company. He is therefore trying to stop the deal, with an arbitration case in London and a bankruptcy in Sofia. T

he latter moved a stage closer this week with a ruling by the Court of Appeal in Sofia and appointment of a temporary trustee at the request of Genchev.

The court had previously not made such a move.