Mark Meyer, the lawyer who acts on behalf of the Malaxa andAuschnit families, says the flotation of the Property Fund must notbe postponed any more because some of the shareholders of theProperty Fund died awaiting compensations. "The children of themajor inter-war industrialists, whose properties were seized by thecommunist regime, are now elderly people. Robert Auschnit (son ofindustrialist Max Auschnit) died without being awardedcompensation, and Steve Auschnit is 82. The Fund's shareholdersdied waiting to be awarded damages. The Fund's flotation must notbe put off any further," Mark Meyer, a partner with law firm RubinMeyer Doru & Trandafir, told ZF. The heirs of Nicolae Malaxaand Max Auschnit families control almost 8% in the Property Fundand are its most significant private shareholders. Philip Paladeand Loreen Ellen Malaxa, Steve and Nuria Auschnit settled in theUSA several decades ago. They are entitled to receive over 400million dollars in damages from the Property Fund, and got onebillion shares in the Property Fund instead of the money, butcannot sell them in a transparent manner because the Fund is notlisted.
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