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The coupons of the “National Lottery” were sold in February 2020, despite the changes prepared in the law then, with which the organization of lottery games was assigned only to the state lottery.
So far, only five with lucky coupons have been recognized as New Games creditors.
The court did not admit to the affiliated companies that they had to receive money
At least five big winners of the “National Lottery” and the “Bulgarian Lottery”, organized by the company “New Games” accused of 18 crimes Vasil Bozhkov, have the opportunity to take their winnings.
This stems from the decision of the Sofia City Court, whereby New Games filed for bankruptcy and a temporary administrator was appointed. On Wednesday, the court published its 82-page decision with the reasons.
The five, whose names and personal details were mentioned in the court ruling, did what was necessary to be recognized as creditors. They petitioned the court and
They are united
to the list of
creditors
The five earned between BGN 720,000 and BGN 1 million before the state revoked the company’s license. According to the lottery rules, they received a small part of the amount immediately and the rest must be paid to them within 20 years.
However, at the end of February 2020, the parliament voted on amendments to the Gambling Act, with which lottery games can only be organized by the state. New Games bank accounts were blocked before the license was revoked and the company suspended all payments.
It is clear from the decision that there are probably many other people waiting for the lottery winnings.
The expert, who reviewed all the documentation, found that during the company’s existence the amounts earned were 34 million BGN and 16.2 million BGN were distributed. However, BGN 17.7 million of deferred benefits remain. This amount is much higher than what the five have to receive, that is to say. People who have winning fines or who have already signed payment protocols could go to court to be included in the list of creditors of the company.
Among those wishing to join the list were four companies, but the president of the court Jacqueline Komitova was
allowed by
only creditors
two of them
– Scientific Games International Limited and Loto Guide EOOD.
The first company was registered in the UK and in addition to being a lottery software provider, it also printed cleaning coupons. Claim 2,121,530 BGN without interest for the services provided to New Games. The other is registered in Bulgaria and has a claim of BGN 1,055,841 for tickets sold and winnings paid. However, the judge recognized less than half of this amount: BGN 397,805.
The other two companies, which applied to be included in the creditor list, were completely rejected for various reasons. The first is that they are affiliated with New Games companies and also claim to be
obligations
happened later
February 2020
And it is not about obligations derived from commercial contracts, but mutual compensation.
One company is the AD National Lottery, which is represented in court by Dimitar Ganev, ie. by the CEO of the bankrupt company, New Games. National Lottery AD claims to have an agreement with New Games as of 2018 for mutual compensation of obligations and has submitted protocols.
The other company, “Loto BG” Ltd., is again represented by the director of “New Games”, Dimitar Ganev. The arguments: The company has given New Games around BGN 200,000 in loans to pay salaries after the license was revoked. The judge concluded that these were attempts to disperse the assets of the bankrupt company in the direction of related companies, which
it will be painful
the rest
creditors
That is why he does not allow them to be included in the list of creditors.
The experts concluded that New Games had sufficient liquidity to pay its creditors. Its assets alone are estimated at just over BGN 50 million.
“However, even the most successful company cannot reorganize its activities in a few days to compensate everyone,” Judge Jacqueline Komitova wrote in the reasons. He criticized the legislator for not giving a new term to New Games to avoid “consequences that in the connection chain of economic entities cause additional damage to the economic life of the country.”
The court appointed Tihomir Naidenov as temporary administrator with a monthly salary of BGN 3,500.
Vasil Bozhkov
already in january
2020 left
Bulgaria
and soon after he revealed that he was in Dubai. He fled when it emerged that his partners in “Eurofootball” Tsvetomir and Boyan Naydenovi had reported to the prosecution for extortion and threat of murder. They later announced that he was also evading state fees due to gambling.
Subsequently, the prosecution filed 18 charges against Bozhkov, including the leadership of an organized crime group.
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