President Rumen Radev has vetoed the legislative amendments related to the appointment of a special commercial administrator in the Lukoil refinery in Burgas. The head of state said that the amendments undermine the legal order in the country, contradict basic European legal norms and pose a high risk to public finances. He recalled that the issue of the special commercial manager was regulated by law two years ago with guarantees against possible abuses, in order to minimize the risk of future financial claims against the state. With changes to the law approved on Friday, these guarantees are no longer provided, Radev pointed out.

According to him, the amendments also introduce a number of new provisions: the special manager will be able to control shares of the affected enterprises without any restrictions and will be able to sell their property, while the contracts and the acts of state bodies will be outside administrative and judicial control. The changes to the law in practice provide for indirect nationalization of the assets of the affected enterprises and the possibility of their subsequent transfer to an unspecified circle of third parties. In this way, the door is wide open for arbitrariness and abuse, Radev says.

• Bulgarian Parliament adopts the amendments regarding Lukoil's special manager

Editor: Miglena Ivanova

Publication: Al. Markov

Photo: BGNES