Bulgaria's Plovdiv District Court will hold a closed-doors sitting Monday on the bankruptcy trial for Bulgaria's ailing state-owned military plant VMZ Sopot reports Novinite. The bankruptcy proceedings were commenced by Mechanical Plant-Devin AD over a debt of BGN 2.5 M accumulated in the period 2010 – 2012 for ammunition parts, the Bulgarian National Television (BNT) reminds.he state-owned military plant has a total headcount of over 3000, with 600 workers expected to be dismissed by March 1, and debts exceeding BGN 150 M.
The privatization deal for the military plant is to be wrapped in three months