The people who invested in the construction of the building “House with Palm Trees” located at 8 Ginta Latina St in Chisinau said after ten years of construction works the block hasn’t been yet made available for occupancy. The works have been delayed, including by the former administrators, who are both investigated for considerable swindle. After the last administrator was arrested, the Creditors Committee decided to name a temporary administrator, but the court ignored its decision and accepted the candidate proposed by the ex-administrator, who is under arrest. The investors are concerned about these acts and call on the state bodies to ensure transparency in this case so that the building is ultimately finished and the people occupy the apartments in which they invested.

In a news conference at IPN, Irina Samsonova, a member of the Creditors Committee, said the block started to be erected ten years ago and the apartments started to be sold in 2010. Under the contracts, the block was to be put into commission in 2011, but the deadline was for several times extended. Finally, in 2015 the State Tax Service filed a claim on the building company’s insolvency to the Appeals Court and proposed replacing the administrator with a temporary one, who would clarify the circumstances and reasons that generated the insolvency.

The building company entered the insolvency process. All the investors were to submit applications for being registered as creditors and they did so. The creditors came together for a meeting and agreed to name Maxim Timoshin as a temporary administrator. It was later determined that about 30 apartments in the block were sold for two-three times. There were also identified other irregularities. After numerous complaints submitted to courts, the first administrator and his family involved in the business were arrested. The last administrator and the accountant were arrested later.

Irina Samsonova said to make sure that the building is finished, the Creditors Committee recently decided to nominate an independent temporary administrator who has nothing to do with the former administration. But the ordinary court of law named a person proposed by Timoshin, who is under arrest, as temporary administrator based on an application where Timoshin says he cannot fulfill his duties on health grounds.

Creditors Committee member Eugen Calmac said the creditors do not support the person fielded by Maxim Timoshin. The administrator will come into possession of all the documents and money and is to manage the building. As this was proposed by the former administrator who is investigated for swindle, the investors are worried. There are about 400 investors and the court should respect their decisions.

Investor Sergey Balan said he wants justice to be done in this case and all the actions to be transparent.