09.07.2015 - Oman SWF takes legal action against Bulgaria over bank collapse
Oman's biggest sovereign wealth fund has started legal action against the Bulgarian government over the collapse of Corporate Commercial Bank (Corpbank), a source at the fund told Reuters on Wednesday. Oman's State General Reserve Fund owned a 30 percent stake in the Balkan country's fourth-biggest lender, which was felled by a bank run and shut down by the central bank, triggering the country's worst financial crisis since the 1990s. News of the legal action came as a Bulgarian parliament commission on Wednesday accused the main shareholder of running Corpbank as a pyramid scheme under the lax supervision of the central bank and the intelligence service...............................................Full Article: Source
Print