CTV Consulting Faces Liquidation and Insolvency Ruling

Two significant court decisions concerning CTV Consulting, a company formerly associated with PP Asen Vasilev, were announced on July 9th. The Sofia City Court (SCC) ordered the company’s liquidation and the beginning of its asset redemption process.This decision came despite ongoing bankruptcy proceedings, with the court arguing that CTV Consulting was beyond recovery and continuing its operations would only harm creditors.

Simultaneously, the Supreme Court of Cassation issued a ruling regarding the company’s insolvency proceedings. The court accepted a key appeal concerning the official start date of the insolvency, referencing legal registers and filings within the Commercial Register.

the SCC’s decision to liquidate CTV Consulting followed a request from Sebastian Bretshnieder, a major creditor. Bretshnieder argued that the company had no realistic chance of recovery and that allowing it to continue operating risked further diminishing the bankruptcy estate. the court reviewed Bretshnieder’s arguments and information provided by the company’s trustee. This information revealed that, as of January 2025, CTV Consulting possessed minimal assets: one table, 17 chairs, a BGN 5700 equity stake in Skinaa company, and BGN 525,422 in cash.

Attempts to secure the company’s premises and belongings were unsuccessful. It was discovered that the registered management address was actually a residential space, and no company assets were found ther. Furthermore, the contract with CTV Consulting’s primary partner, “Hitite,” has been suspended.

Adding to the company’s financial difficulties,Eurobank Bulgaria AD has filed an additional claim for a bank loan.This loan had previously been marked as repaid, but…