The Cluj Court of Appeal ordered on Tuesday, April 12, 2023, the suspension of the bankruptcy procedure ordered by the Cluj Tribunal in the case of Napocamin, the company that owns the former Continental Hotel building in downtown Cluj. Therefore, the liquidator will not be able to proceed with the sale of Napocamin’s assets until the Court of Appeal rules on the appeal filed against the Cluj Tribunal’s decision that triggered the bankruptcy proceedings.
The Cluj Tribunal rejected the reorganization plan for SC Napocamin, owned by businessman Ioan Bene, on March 29, ordering the company to enter bankruptcy.
As early as 2020, Mayor Emil Boc stated during a press conference that the municipality intends to exercise its right of pre-emption to purchase the building of the former Continental Hotel in central Cluj, as it is a monument building for which it is mandatory to inform the Ministry of Culture and local authorities if it is put up for sale.
Frequently Asked Questions
Why was the sale of the former Continental Hotel building suspended?
The sale was suspended because the Cluj Court of Appeal halted Napocamin’s bankruptcy proceedings until a final ruling is made on the company’s appeal against the initial bankruptcy decision.
Who is the current owner of the building?
The building is owned by the company Napocamin, which is controlled by businessman Ioan Bene.
Does the local government have plans to acquire the property?
Yes, Mayor Emil Boc has expressed the Cluj-Napoca municipality’s intention to exercise its legal right of pre-emption to purchase the historic monument if it is officially put up for sale.