In the absence of a transparent mechanism, the files selected tobe dealt with first are those involving properties transferred tothird parties for merely 10-20% of their value, while the realowners wait four or five years to get their deeds.
Along with the grey market of Fondul Proprietatea (Property Fund- FP) shares, the market of compensation files registered with theNational Property Restitution Authority (ANRP) is growing, withhundreds of files "traded" every year.
In the waiting queue at ANRP are files submitted as far back as2006, yet the institution's employees find various reasons todismiss them. On the other hand, newly submitted files may beaccepted. There is no transparent file selection mechanism.
Since Fondul Proprietatea seems closer to floatation than ever,there has been an increase in buying and selling compensationfiles, because the new owners will be able to sell their shares onthe Stock Exchange, after having bought the files from the formerowners at as little as 10% of the compensation value at times.
"This year I brokered deals with 15 or 20 files. I buy them fromformer owners and resell them. It's like a second job. A filewithout ANRP's valuation sells at 15% of its value, and if it has ayellow ruling (the final compensation award ruling) in it at 25%,"said R. Ioni]`, one of the people who posted a buy ad on theInternet.
Selling and buying such files borders on the illegal, so thatbrokers prefer to say the former buyers transfer rights to theirfiles instead.
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