The biggest bankruptcy of a block of apartments in Bucharest wasdeclared in early May by the Bucharest Court of Law, which issuedsuch a ruling for Cefin Real Estate Alpha, developer of the CortinaResidence project in the Baneasa area of Bucharest.
A 13-floor block with 271 apartments was set to be erected onHoria Macelariu street, behind Phoenicia hotel. The underground carpark and the first few floors were erected, but works weresuspended almost a year ago. In January the developer wentinsolvent, although it had over 100 pre-contracted apartments, andonly four months later, the court declared the companybankrupt.
"The ruling is final and will probably become irrevocablebecause the report of the legal administrator was approved in themeeting of creditors, and the developer unfortunately cannot comeup with any other solution than bankruptcy. The next steps areevaluation of assets by a specialised firm and subsequent sale,"Geanina Oancea, senior manager of BDO, the appointed legalliquidator, told ZF.
The total debt of the developer amounts to 33 million euros.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
