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NRA seeks to declare insolvent 178 Bulgarian companies indebted to the state

Since the start of 2011, Bulgaria’s National Revenue Agency (NRA) has asked the court to declare 178 companies insolvent because of their failure to repay their public debts. The NRA said that the firms had taken no action despite being urged several times to start paying their dues, clearing their obligations either fully or partially.The number of companies that have allowed matters to get to this point has doubled compared to 2010. The NRA administration reminded the representatives of such businesses that all company assets would be seized and sold off if the court decided that bankruptc ...