| Oman's biggest sovereign wealth fund is set to seek an arbitration ruling against Bulgaria over the collapse of Corporate Commercial Bank (Corpbank). Oman's State General Reserve Fund ( SGRF ) owned a 30 percent stake in Corpbank, Bulgaria's fourth-largest lender, which collapsed last year following a bank run.
The market value of Oman's stake stood at about 170 million levs ($95 million) last June, before the central took control of Corpbank, triggering the Balkan country's worst financial crisis since the 1990s. SGRF's claim would be based on the bank's book value, which would likely be significantly different from its market value, though the source did not disclose the value of the claim...............................................Full Article: Source
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