Court Orders Bucharest Mayoralty To Pay Record Damage Claims To Local Businessman

The decision was ruled by the Bucharest Court and may be appealed with the Bucharest Court of Appeals.

Constanda demanded in court the cancellation of a contract signed with the Bucharest city hall for the land and buildings in the Satul Francez neighborhood, and asked for damage claims of about EUR160 million, arguing that the Bucharest General Council did not approve the urbanism plan to start building in the area.

Through the contract signed in 2008, Constanda received in exchange for a 28,500-sqm plot of land he owned in Bucharest's Bordei Park a plot of land with a similar area in the Satul Francez neighborhood, as well as the buildings constructed there, which belonged to the private domain of the city. The land swap project was approved by the Bucharest General Council on January 17, 2008.

Constanda's lawyer said the businessman demanded the cancellation of the contract signed with the city hall, as the urbanism plan he asked for to construct a 28-meter high building in Satul Francez was not approved by local authorities.

According to the court decision, Constanda will receive damage claims amounting to over EUR35 million for the land swap contract and about EUR110 million for the land in the Bordei Park, as well as about 80 million lei (about EUR19 million), which represent penalties.

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