On July 30, Bulgaria's Central Depository suspended trading with the share of local cosmetics maker Aroma for three days, in compliance with a court injunction.

All transactions that were in progress at the time the injunction notice was received by the Central Depository would not be settled before trading resumed, Lyubomir Hristov, executive director of the depository, said.

The Financial Supervision Commission (FSC), the Bulgarian Stock and Exchange (BSE) and the Central Depository said that the injunction move harmed the interests of minority shareholders, as they had no stake in the stand-off between the parties to the dispute.

The FSC and the BSE said that the injunction decision was taken without prior consideration of all relevant legislation.

The injunction order was issued at the request of Krassimir Mitev, a former business associate of Aroma supervisory board chairman Loukan Loukanov.

Mitev owns local cosmetics company Rubella.

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