Businessman Marius Ivan planned to start the project in 2006, in partnership with Irish businessman Jonathan Youens through Creativ Proprietati Imobiliare company.
The project, which was not carried out, included 200,000 square meters of offices, commercial spaces on 30,000 square meters and around 800 apartments. The investment was estimated at EUR700 million.
According to judicial administrator RVA Insolvency, the debts of Creativ Proprietati Imobiliare total nearly RON340 million (EUR75.5 million).
Besides Bancpost, the company’s shareholders also have to recover their debts. Thus, Creativ Invest Grup company should recover RON73.2 million, while Marius Ivan has to recover separately RON14.7 million.
Arealto Finance company has to get back RON46.7 million, while Credal International, as fiduciary for London Settlement, wants to recover RON84.6 million. (EUR1=RON4.4935)