We represented creditors of Corporate Commercial Bank (KTB) whose set-offs were declared invalid retroactively by emergency legislative amendments. We challenged those provisions through all available avenues.
Constitutional Court. Georgi Stoychev and Anton Kolarov raised the matter before the Bar and prepared the proposal on the basis of which, in 2020, the Supreme Bar Council referred the case to the Constitutional Court. By Decision No. 8 of 27 May 2021 in Constitutional Case No. 9/2020, the Court declared unconstitutional Article 60a(1) of the Bank Insolvency Act and the transitional provisions by which the Act was given retroactive effect.
The case was referred to the Constitutional Court by the Supreme Bar Council.
Decision No. 8 of 27 May 2021 in Constitutional Case No. 9/2020 — Constitutional Court