The Bucharest Court sustained the bank’s request for the insolvency of Ram West Investitii, controlled by Israeli investors.
The project was estimated at around EUR140 million was supposed to consist of seven 18-storey buildings. In the first stage, the developer planed to build 360 apartments.
The project was to be developed on a 36,000-square-meter land and the investment was announced in 2008 by Ram Global Group. The development is still in its early stages.