The Bucharest Court of Appeals irrevocably annulled Proprietatea’s shareholder decisions taken in a meeting held in September 2010, whereby Franklin Templeton was named fund manager.
At around 10:50 local time (GMT0750), the Bucharest bourse’s BET index was down 1.3%, while composite index BET-C was losing 1%.
BET-FI, which tracks the five regional investment funds (SIFs) and Proprietatea fund, was down 1.2%.
The traded values were higher than in recent sessions, reaching around 10 million lei (EUR2.1 million).
The bourse’s benchmark index BET-BK was down 0.6%, while energy stocks tracker BET-NG was losing 0.6%.