The sale by the tax authorities of the 5-star Metropolis Hotel in Bistrita, operated by Metropolis Grup, has been blocked, as the company entered insolvency at its own request shortly after the start of the sale procedure. According to the law, the foreclosure procedure must be stopped during the insolvency period.
ANAF tried to sell the hotel through an auction, setting a starting price of approximately EUR 7 million.
Source: Profit
Frequently Asked Questions
Why was the sale of the Metropolis Hotel blocked?
The sale was blocked because the operating company, Metropolis Grup, entered insolvency at its own request shortly after the auction process began.
What was the starting price for the hotel auction?
The Romanian tax authority (ANAF) set a starting price of approximately 7 million EUR for the auction of the 5-star hotel.
What happens to the foreclosure during insolvency?
By law, any foreclosure or forced execution procedures must be suspended while a company is undergoing insolvency proceedings.