The company’s Israeli owners filed for insolvency when the firm became unable to pay the debts owed mainly to fiscal authority ANAF, insurer Allianz Tiriac Asigurari and lender Alpha Bank.
Palatul Universul was constructed between 1930 and 1932 in central Bucharest. It has a surface of more than 10,000 square meters.
The court appointed Euro Insol SPRL as the insolvent firm’s administrator.