The Bucharest Court of Law has levied a distraint upon Lakeviewoffice building on Barbu Văcărescu street in Bucharest, held byDinu Patriciu and AIG Lincoln, as a result of a litigation broughtabout by a one million-euro debt owed by the building owners toPortuguese construction firm Mota Engil.
The Portuguese were the first general contractor of theLakeview, but in 2009 the works were taken over by Comnord companyof businessman Sorin Creţeanu, which completed the 45 million-europroject that PricewaterhouseCoopers, Colgate-Palmolive and RoyalBank of Scotland moved into this year.
"The court levies a distraint on fixed and movable assets of thedebtor (BVB Real Estate, the special purpose vehicle) until paymentof the full 1.08 million euros. The court levies a distraint uponthe property consisting of a 4622.35 square-metre plot (...) andthe building (ground floor, underground levels and 15 floors),"reads the ruling of the Bucharest Court of Law delivered a monthago.
The decision has no direct impact on the tenants, but it precludesthe owners from selling the property until the debt is paid.Company representatives did not comment on the information by thetime this issue was ready for print.
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