Bankruptcy Threatens Polimeri.

03.11.2000

The Agency for Government Claims has launched an action at the regional court in Varna to declare Polimeri of Devnya bankrupt. The reason for the action is the company's outstanding debt of BGN 1.5 mln due for social insurance. A majority interest holder with 60% of the shares in the Devnya-based chemical producer is AKB Corporation. The company has problems with ethylene deliveries. For a fifth month now AKB has not been able to choose one of the four options for work, which were suggested by LUKoil Neftochim