Weststar Real Estate SRL Arad filed today, at the Bucharest Tribunal, an insolvency application on behalf of Nordis Management SRL, the most important company in the group of the real estate developer Nordis. The creditor claims a debt of 5.5 million euros. This is the second such request that Nordis is facing this month. At first, the creditor gave up after receiving his money, several hundred thousand euros, a much smaller amount than the one requested now. (Details here)
So far, the court has not granted a time limit for the trial of the application. If the creditor’s request is accepted by the syndic judge, the company’s movable and immovable property will be put up for auction to satisfy the claim.
Theoretically, there is also the possibility that Nordis Management will submit, in the coming days, a voluntary application for insolvency and to propose a reorganization plan for a period of time in which to try to resolve the situation and pay the debts.
G4Media.ro reported in an article published on Thursday that, in 2020, Weststar Real Estate, a company owned by the Arad businessman Simion Apreutese, signed a pre-contract by which he bought 68 apartments from a complex built by Nordis in Năvodari.
As the properties were not delivered on time, in March 2022 the parties concluded a transaction by which Nordis undertook to return the money received.
After a first installment of € 1.5 million, payments were discontinued, so in May Weststar applied for and obtained the debtor’s enforcement order to recover the remaining € 5.5 million. A G4Media.ro source stated, however, that no amounts of money were identified in the accounts, so in the end, Apreutese resorted to the solution of insolvency.
In a reply sent to G4Media.ro yesterday, Nordis claimed that “Currently, there is no dispute between Nordis Group and Weststar and Ziridava. (…) Nordis Group paid the due installments to the two companies, Weststar and Ziridava.
There is a payment schedule, agreed by both parties, which runs until the end of this year. “
Nordis Group claims to have ongoing real estate projects in northern Bucharest, Mamaia, Sinaia and Brasov.
The latest available accounting data show that, in 2020, Nordis Management SRL, the most important company in the group, had a turnover of 44.9 million lei and a net profit of 8.2 million lei. 87% of the shares of this company belong to Emanuel Poștoacă and Vladimir Răzvan Ciorbă.
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