foreclosure

Romanian banks cannot sell assets seized in foreclosures because there is no demand, the banks' association ARB president Radu Ghetea said Tuesday.

Bucharest’s District 3 Public Finance Administration foreclosed the company Ocram Televiziune SRL, by cashing 847,500 lei (EUR1=RON3.6207) following 82 decisions of the National Audiovisual Council (CNA) to fine the television station OTV, between January 1, 2004 and September 30, 2008.

Romanian privatization authority AVAS will reclaim the majority stake within the companies Alimentatie Publica, in northeastern Romania’s Botosani and Textila Unirea in Bucharest, which were privatized before 2000, since the investors failed to pay the total acquisition price.

Bucharest general mayor Adriean Videanu said the treasury illegally foreclosed the mayoralty’s accounts in the case of Bordei park, adding the transaction will be blocked.

Businessman Costica Constanda foreclosed Thursday the accounts of the Bucharest mayoralty for over EUR17 million gained in court for the land owned in Bucharest’s Bordei park, TV network Antena 3 reported.

The Romanian lottery on Thursday was foreclosed by the Romanian Football Federation and forced to pay 20% of the money it collected for sporting bets in 2003-2005, amounting to RON18 million (EUR5 million).