Eligible bidders may submit letters of intent by September 6, BCR said in a statement.
BCR reserves the right to select the potential investors and to change, suspend or altogether cancel the auction for the accounts receivable, the lender said.
Located in Poiana Brasov mountain resort, the Silver Mountain residential project was developed by Romanian realtor INR Management Real Estate, a company against which BCR has filed an insolvency request and which was recently acquired by UNI-ASIA Holdings investment fund.
Silver Mountain comprises 200 luxury apartments and the project included the construction of another 1,000 apartments and villas, as well as of a 200-room hotel. The new owners recently announced they want to build an 800-room hotel instead of the apartments, according to a report from Ziarul Financiar.