Court Orders Bucharest Mayoralty To Pay Record Damage Claims To Local Businessman - financiare.ro
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News » July, 2011 » 6 July 2011

Court Orders Bucharest Mayoralty To Pay Record Damage Claims To Local Businessman
06.07.2011, 13:22 | Actuality | 902 views



Romanian businessman Costica Constanda on Wednesday won a civil trial started against the Bucharest city hall regarding a land swap contract, and the mayoralty will pay the businessman damage claims amounting to a record EUR165 million.

The decision was ruled by the Bucharest Court and may be appealed with the Bucharest Court of Appeals.

Constanda demanded in court the cancellation of a contract signed with the Bucharest city hall for the land and buildings in the Satul Francez neighborhood, and asked for damage claims of about EUR160 million, arguing that the Bucharest General Council did not approve the urbanism plan to start building in the area.

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