The creditor of the affiliated minister and leader of the PP Asen Vasilev, the company “STV Consulting” Sebastian Bretshnayer, has succeeded in achieving an important court victory. The Sofia City Court acknowledged its right to implement to Bulgaria a final decision issued by the International Center for Dispute Resolution in the US Arbitration Association. The decision is from July 2024 and by virtue of “CTV Consulting” should pay Bretshnayder $ 3,530,400 for violations committed under a revolving loan agreement. Outside of this amount, the court recognized the right of Bretshneder to receive a daily rate of $ 2824.32 due from July 1, 2024 to the time of the actual payment, as well as $ 28,805 fees and expenses and $ 38,290 lawyer’s fees.
The proceedings before the Sofia City Court were instituted in accordance with the Law on International Commercial Arbitration. Bretshnayder has asked the court to admit and to allow the arbitration ruling from the United States by issuing a writ of execution for the sums awarded.
The judges find that the arbitration decision was made in accordance with the clauses of the Treaty between “CTV Consulting” Sebastian Brettnayer and that his recognition and implementation in Bulgaria would not contradict the Bulgarian legal framework.
“From the reasons for the arbitration award, it is established that the defendant was given the opportunity to set out an opinion and to make requests and objections, and to present evidence and to dispute the evidence presented by the other party. Therefore, the court finds that the court was not made in violation of the principle of equality of the parties and the principle of competitive start.” He orders the Stat Consulting to pay new costs of production in the amount of BGN 41849.34.
The decision of the Sofia City Court is not final and is subject to appeal to the CAC within two weeks. It is currently unclear whether there is an appeal on the decision.
The CC CONSERTING is in bankruptcy procedure. It is not over. Assen Vasilev initially turned out to be directly involved in it because the court found that the CTV CONSERTING fell into insolvency as early as 31.12.2020. At that time, the sole owner of the capital of EOOD and its manager was Assen Vasilev. He transferred his share to Mario Sotirov’s company on May 7, 2021, before becoming Finance Minister. After appeal, the Sofia Court of Appeal appointed another start of the insolvency – 31.12.2023. In its turn, this decision was appealed to the Supreme Court of Cassation.
As “NOW” wrote, bankruptcy proceedings began at the request of Sebastian Brettnayer, who claimed “CTV Consulting” for a non -completed loan – principal and interest, amounting to $ 3,81,600. The loan was provided under a contract dated 25.02.2019 (initially $ 1 million) with StV K. LTD, registered on the British Virgin Islands. On 27.11.2020, an additional agreement was concluded on this loan, providing an additional loan of $ 477,025. It is in this agreement that as a joint and several debtor, the registered in Bulgaria “STV CONSERTING” Ltd. was also attracted. The company, headed at the time of the conclusion of the agreement by Assen Vasilev, undertakes to secure the loan from Bretshnayder with the establishment of a second contractual mortgage on its property of Chataldzha 3 (after the benefit of a bank) and to guarantee the payment of all amounts of debt. However, such a mortgage was not established, and subsequently the property was sold without repayment of the debt to Bretshnayder. The maturity on this loan occurred on January 1, 2023 – before the sale of the property.
In the case of bankruptcy, the First Investment Bank was subsequently joined, which on 27.08.2021 provided a bank loan to the company to provide turnover.
The last entry in the company’s account is from June 6, 2025, when an attachment was imposed in favor of First Investment Bank. The attachment is on company shares and is imposed on the basis of a writ of execution issued for the amount of BGN 1 362 691.65. The news was first notified by Bird.bg.
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