Raider attacks in Moldova have taken place since establishment of statehood, study

The phenomenon of corporate raider attacks started to be talked about in the summer of 2011, but in reality the property and businesses in the country have been the targets of such attacks since the establishment of Moldova’s statehood and expand every year, the think tank “Expert-Grup” says in a study, quoted by Info-Prim Neo. Study author, lawyer Viorel Chetrusca suggested a number of legislative amendments. He proposed instituting harsher penalties for the non-observance of imperative civil norms and complementing the penal norms and the norms regarding administrative offenses. Viorel Chetrusca said there are many ‘vices’ in the Moldovan legal framework, including the low morality of the decision makers and inspection bodies. He referred to the erroneous and biased interpretation of the legal norms, the excess of power. According to “Expert-Grup”, Moldova is part of a definite area of transformation and development attempts in a democratic spirit. However, the common problems of the neighboring and more distant countries do not avoid it. One of them is the corporate sequestrations aimed at appropriating property and businesses. The study “Phenomenon of corporate raids in Moldova: Analysis of decisive factors in the legal framework” was presented in a roundtable meeting on Tuesday. “Expert-Grup” considers the study can bring more clarity in the country’s legislative system by instituting more instruments for blocking raider attacks in the future.

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