Raider attacks or misunderstandings between shareholders?

The first hearings held within the parliamentary commission on economy, budget and finance revealed the raider attacks on financial-banking institutions resulted from misunderstandings between the shareholders. At the same time, the parliamentary parties used the first hearings to accuse and attack each other. In the September 13 meeting of the commission, there were questioned representatives of the National Bank and the National Financial Market Commission. The hearings were held behind closed doors and lasted for about three hours, Info-Prim Neo reports. The commission’s chairman Veaceslav Ionita, a lawmaker of the Liberal Democratic Party (PLDM), said after the meeting that when a transaction was performed on the stock market the National Financial Market Commission reacted relatively promptly, while in the case of the dealings carried out outside the stock exchange it acted with delay. Four of the five transactions examined were performed outside the stock exchange. According to Veaceslav Ionita, the National Depositary reported that no transactions took place, but they were performed in reality. He said the dealings involving bank shares were carried out even if the legislation bans them, stressing that all the transactions were performed as a result of court decisions. National Bank governor Dorin Dragutanu said this is a conflict involving groups of economic entities or shareholders. “The court decisions under which the transactions were performed are still valid as they have not been annulled by higher courts. Until the higher courts pronounce on the issue, the central bank will authorize no act,” he stated, adding some of these court decisions were kept secret even from the shareholders. Commission member Vadim Cojocaru, a lawmaker of the Liberal Party, said a conflict arouse between shareholders of banks last yearend. He stated there is yet no evidence that there were made raider attacks. “Both the National Bank and the National Financial Market Commission acted in accordance with the law and without delay. It is important that the financial-banking system was not affected by such a situation,” said Vadim Cojocaru. Another commission member, Democrat MP Adrian Candu said the discussed problem represents an attempt to politicize a very sensitive issue. “Attempt was made to redirect attention to some of the institutions, but the problem actually derives from the courts of law and bailiffs and the Ministry of Justice should have been questioned the first,” he stated. He said it is a conflict between shareholders. “The sale of Moldova Agroindbank shares was prepared at the Depositary. I examined the Slovenian press reports and established that this fund that owns the shares is close to bankruptcy. The creditors intervened and performed the transaction as they feared the fund would sell the shares,” said Adrian Candu. According to him, their colleagues from the PLDM want things to heat up. “The materials I received show that politicians are involved in this case. An assessment company significantly underestimated the shares and prejudiced the state through the taxes that were imposed on transactions. This assessment company was founded by Artur Gherman, a member of the PLDM. The colleagues from the PLDM aim to accuse institutions that represent other parties and prepare excuses for a possible vote together with the Communist Party. In fact this scandal is nothing but an artificial balloon,” he stated. Commission member Igor Dodon, a Communist MP, said such cases are rather dubious and are possible because different state institutions do not cooperate between them. “Regardless of politicians’ assessments, it is important that we avoid cases that can worsen the situation in the banking sector. The politicians should make fair assessments, while the state institutions should fulfill their duties,” he stated. The next hearings within the parliamentary commission on economy, budget and finance will take place on September 19, when there will be questioned representatives of law enforcement bodies.