Reply by Christo Georgiev, shareholder in Satabank plc:

“Dear sirs, 

The article by Manuel Delia entitle The slap happy banker - Manuel Delia”, published by Times of Malta published on March 1 contains the following statements which are not true:  

1. “It turned out that Luxembourg financial intelligence agents were on to Georgiev and the evidence they were gathering was piling up. Luxembourg investigators shared their findings with their Maltese colleagues forewarning them that Georgiev was trouble.” 

Financial intelligence agents from Luxembourg or other countries have never investigated Christo Georgiev and have never gathered any evidence into any wrongdoings by him. Luxembourg investigators did not share findings with their Maltese colleagues and did not say that Georgiev was trouble. 

2. “In a friendly aside, his lawyer told me that if his client lived up to his threat, I’d have to jump off the nearest cliff.” 

This statement is not true. The Maltese lawyers hired in the case have never been instructed to make such statements and did not make such statements. 

3. “Georgiev, on the other hand, went back home to Bulgaria continuing serenely as though the day his bank was shut down was just like any other.” 

This statement is not true. To the opposite, the person’s life was impacted negatively and substantially and he suffered and continues to suffer material and non-material damages. These damages are subject to three law suits in tort brought by Mr Georgiev and pending before courts in Bulgaria. 

4. “So, he sued us where we cannot defend ourselves even if we could afford to, because we can’t make witnesses appear to sustain our case.” 

This statement is not true. The law suits are brought under EU Regulation No 1215/2012 of 12 December 2012 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters states, which is directly applicable in Malta.  

5. “He’s after the fear that paying him damages would be our last act in journalism.” 

This statement is not true. Mr Georgiev respects journalists and freedom of speech and does not intend to cause fear or damages. He is simply seeking to protect his legal rights and to prove the truth – that there is no and there have never been investigations against Mr Georgiev.