Marius Locic renders residential complex insolvent
Locic Residential, controlled by businessman Marius Locic, under
investigation in a corruption case alongside C`t`lin Voicu, Costel
C`[uneanu and Florin Costiniu, went insolvent at the beginning of
this week, after the company itself filed an insolvency claim with
the Bucharest Court of Law.
The company had taken out a loan worth over EUR10 million in 2008
from Volksbank Romania, guaranteed with three plots of land
covering a cumulated area of over 3,500 square meters on Intrarea
Chefalului street in northern Bucharest, on the shore of Lacul Tei
lake, where Locic had been planning to erect an apartment building,
according to information from The Electronic Archive for Secured
Transactions.
The real estate market plummeted and the project was frozen, and in
addition Marius Locic has been investigated by the National
Anti-corruption Department (DNA) in the last two years, being
charged with influence peddling, forgery of documents, and
corruption.
According to information published in the press, Marius Locic,
known as a business partner of George Becali, also has part of his
assets frozen.
Locic was planning to link the nine-floor building he intended to
build on Intrarea Chefalului with Barbu V`c`rescu street by a
bridge over Lacul Tei lake, that would pass by the Caro hotel.
Locic's property is currently just a weed-covered land, from the
sale of which Volksbank should recoup several million euros if the
company is declared bankrupt on a land market still partly frozen
at present.