BPD Bulgarian Prop.

Presently, BPD EOOD is not aware of any successful case ruled out by the 
Bulgarian courts based on "economic impossibility". 
 
 
In order to secure its claim to recover the advance payment of EUR3.9 million, FPC 
has served a disposal injunction preventing the release to BPD EOOD of the EUR3 
million which was held in the notary escrow account as a performance guarantee 
under the Varna Logistics SPA. BPD EOOD has appealed the disposal injunction 
with the Sofia Appellate Court on 15 December 2008. On 12 March 2009, the Sofia 
Appellate Court revoked the ruling of the Sofia City Court. BPD EOOD will 
therefore ask the notary to release the funds in due course. 
 
 
 

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