The validity of intercepting receivables in deposits credit claims after Putting Corporate Commercial Bank Under special supervision Cover Image
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Относно действителността на прихващанията на вземания по влогове с вземания по кредити след поставянето на Корпоративна търговска банка под специален надзор
The validity of intercepting receivables in deposits credit claims after Putting Corporate Commercial Bank Under special supervision

Author(s): Valery Dimitrov
Subject(s): Law, Constitution, Jurisprudence, Civil Law, Law on Economics
Published by: Институт за държавата и правото - Българска академия на науките
Keywords: banking law; special supervision

Summary/Abstract: The article examines the issue with multitude of void offset statements exercised by creditors of Corporate Commercial Bank (CCB) during the so called “special supervision” regime enforced by the central bank (CB) in compliance with Credit Institutions Act (CIA). This regime basically changed the possibility for setting-off deposit claims with credit obligations to the bank due to special compulsory measure imposed. According to art. 116, par. 2, p. 2 of CIA this measure finds expression in a suspension of fulfillment of bank obligation. The suspension lasted more than for months, until the revokation of he CCB license by the CB. This measure being an administrative moratorium on CCB obligations has as a legal consequence stopping the possibility of deposit claims “becoming due”. This ban on deposits for becoming due means that these deposits are not fit instruments for valid setting-off. The requirements of art. 103 of Law on Contracts and Obligations for active claim have not been fulfilled. Due to this the sets-off must be treated as null and void and have to be attacked by the CCB receivers.

  • Issue Year: LVIII/2017
  • Issue No: 1
  • Page Range: 81-91
  • Page Count: 11
  • Language: Bulgarian