Sofia City Court (SGS) upheld the insolvency of Bulgarian football club CSKA Sofia and ruled that the club has been insolvent since 31 December 2014.
The court appointed a temporary assignee and the property of CSKA is subject to distraint, private NOVA TV informs.
The decision of the court, which was issued on October 2, can be appealed within a period of seven days.
In June, the Bulgarian Football Union (BFS) revoked the licences of CSKA for participation in both the domestic A Group and the European tournaments due to outstanding debts.
As a result, the club holding the greatest number of championship titles, was relegated to the third division of the Bulgarian football league.