The founders of the dairy company “Budjac-Gold” SRL situated in Vulcanesti say they were illegally deprived of their business.

One of the founders Ivan Pavlioglo, in a news conference at IPN, said he started his business in 2005 and invested money in the former Vulcanesti dairy complex together with another three partners. The investors purchased the land and the facilities and then bought equipment to start a new dairy business. As they didn’t have enough money, they took out a loan of 1.87 million lei from a bank. In a period, they agreed with the owner of the ice-cream company “Drancor” Vasile Drangoi that this will repay the loan to the bank, while “Budjac-Gold” was to become the partner of “Drancor” and paid a certain percentage from its incomes to this company.

Ivan Pavlioglo said the jurist of “Drancor” launched other procedures in secret and imposed large penalties on “Budjac-Gold” for the overdue payment of the debt to “Drancor”, through the agency of the Cahul court. Afterward, an insolvency process was started in relation to “Budjac-Gold” and a person designated by the owner of “Drancor” was named as liquidator.

Anatolie Cainarean, the representative of the debtor in the insolvency process, said the named liquidator had an impartial attitude to the sides involved and didn’t order an inventorying of the property of “Budjac-Gold”. He then ordered selling this property at a very low price to companies that were founded by the same Vasile Drangoi.

Valentina Fetescu, founder by inheritance of “Budjac-Gold”, said that her husband bought equipment for the company with his own money, but this was sold together with the rest of the property in breach of the law. “Budjac-Gold” costs over 5 million lei, but was sold for 600,000 lei.

Those who made accusations said they will go to the Prosecutor General’s Office and then to the ECHR if need be.