We will place in the current topic information about the insolvency procedure against KMB Best of Bulgaria. This company is the developer of Balchik Heights (an aoff plan project) and falled into insolvency procedure and has got a trusted assignee, appointed by the court on 26th of April. Currently all interested creditors are allowed to registed their insolvency claim. There are specific short periods of time in which the registration is possible. So if you have paid any sums of money to this company and received nothing against them, registration is a good idea, because if you miss the registration deadlines you will also miss the chance to seek for your money in the future.
Will will edit the current topic with any news regarding the procedure and the registration process.
There is currently no progress made with the proceedings as of December 2014. The developer was announced insolvent in 2012 and the court cancelled all rights of the managers of the company on 24.10.2013. Total restriction over all assets of the developer was placed on this same date. The registration period for creditors to register their claims have expired long time ago.
It is interesting to note that only 4 creditors have joined the procedure and they are 3 companies and the local Tax Agency.
Since 2013 two Meetings of creditors were held and the procedure is still not completed, which means the trusted assignee is still trying to collect the money, owed by the developer towards the registered 4 creditors.