The notion of “raider attack” in the national legislation is not defined even if this phenomenon has existed for a long period. This means the invoking of alleged financial debts, concomitant confiscations, blocking of accounts, unfounded court decisions and others, says the report compiled by the commission of inquiry into the investigation of all the circumstances of hostile takeover of shares of commercial banks and insurance companies in 2010-2012, IPN reports.
According to the report, of 23 insurance companies that operated in Moldova in 2010-2012, only nine survived. The foreign investors became more cautious as the security, integrity and immovability of the right of ownership over real estate are not ensured in Moldova.
As it was ascertained that such actions continued after the period examined by the commission (2010-2012), it was proposed constituting a new commission of inquiry so as to investigate the circumstances of the hostile takeover of shares of commercial banks and insurance companies in 2010-2020.
