The work of Bulgaria’s company register was fully restored on after its collapse 17 days earlier – the longest period it has not been operational since its creation, the Registry Agency said on August 27.
The system stopped working on August 10 and, according to the Bulgarian authorities, the reason for its collapse was that several computer disks had crashed for an unknown reason.
“All services related to the register are now available,” the Registry Agency said in a statement on its website.
While the company register was offline, local companies were unable to comply with the legal requirement to make public decisions and documents that concern traders and foreign trading branches. The files are stored in electronic form and contain personal data of individual representatives and managers.
The collapse of the register resulted in the resignation of the agency’s head Zornitsa Daskalova and was one of the two reasons for an extraordinary parliamentary session last week, along with the sudden bankruptcy of Cypriot-registered insurance company Olympic, which had left 200,000 cars without mandatory third-party liability insurance. The latter also led to the resignation of Ralitsa Again, the deputy head of Bulgaria’s Financial Supervision Commission (KFN) who was in charge of the insurance sector.
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