Eurosmart Investment, the developer of a residential project with 50 luxury apartments downtown Bucharest, became insolvent. Transylvania Insolvency House has been named as the court receiver, according to daily Ziarul Financiar.
The building is 85 percent finished, but no apartments have not been put into use yet, due to a lack of funds that has gone on for more than a year.
According to data from the Trade Registry, Eurosmart Investment is owned by Marina-Ioana Popovici (62.6 percent) and Forum Invest, an event organizer company (37.4 percent). Popovici and her husband, were sentenced earlier in the year to seven years in prison.
