Bulgaria's Private TV7 Calls on PM to Prevent Confiscation of Intellectual Property

Domestic | May 5, 2015, Tuesday // 19:13|  views

Bulgarian Prime Minister Boyko Borisov. Photo: BGNES

Assignees at collapsed Corporate Commercial Bank (KTB) have declined an offer by the management of Bulgarian private TV7 channel to repay the television's debts to the bank's vault, TV7 officials argued on Wednesday. 

The management of the Bulgarian private TV7 sent on Wednesday an open letter to Prime Minister Boyko Borisov and other officials, Deputy PM and Interior Minister Rumyana Bachvarova as well as Finance Minister Vladislav Goranov to give its account on the latest developments.

It also claims that the relationship between the assignees at KTB and TV7 was going beyond the legal and financial relations between a creditor and a debtor.

The letter was also addressed to the Chairperson of the ad hoc inquiry parliamentary committee on KTB Desislava Atanasova and the Chairperson of the Bulgarian Deposit Insurance Fund Radoslav Milenkov.

TV7 proposed to the assignees on Tuesday to repay the full amount of the television's debts until the end of the month and depositing part of the sum until the end of next week.

However the offer received a firm refusal and it was stated that a bailiff would proceed to confiscation of the TV equipment, which was collateral for the repayment of the loan, on May 7.

This only led to the conclusion that the assignees were not interested in the debts being repaid, but rather in preventing the television from broadcasting.

According to TV7, this was not the behaviour of a bank, but of a repressive apparatus.

If the intention of the assignees to seize the equipment was insurmountable, TV7 proposed an inventory to be made and the equipment to be left in the building of the television until the end of the month, where it will be guarded under close scrutiny.

If KTB insisted on the equipment to be taken away from the building, TV7 expressed readiness to make an inventory, to pack the equipment and deliver it to an address designated by the assignees, which will however require several days.

This could be done in order to avoid repetition of the ugly scenes, which occurred on April 29, when a bailiff entered the building of TV7 with an order to seize the equipment, including the servers.

TV7 insisted on the server, which was the “heart of the television” and its ownership to remain at its disposal until the information, which it contained, was copied.

The television pointed to the EU directives, which explicitly provided that a debtor should not be additionally harmed.

TV7 expressed belief that as a member state of the EU, Bulgaria is a democratic and civilized country.

The letter concluded by calling PM Borisov and Interior Minister Bachvarova for their assistance in preventing the confiscation of intellectual property, which amounted to a theft.

TV7 expressed its firm readiness to repay its debts to KTB and the Bulgarian Deposit Insurance Fund if provided with the real opportunity to do so.

Last week, a bailiff accompanied by police officers entered the building of TV7 with an order to seize the equipment of the television.

The tensions were defused when PM Borisov ordered the police out of the building, which was followed by the resignation of two senior police officers.

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Tags: Vladislav Goranov, Rumyana Bachvarova, Boyko Borisov, assignee, server, equipment, confiscation, bailiff, collateral, debt, repayment, TV7, KTB, Bulgaria, inventory, intellectual property


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