The sale by the Tax Authority 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 Hotel Metropolis blocked?
The sale was blocked because the operating company, Metropolis Grup, entered insolvency at its own request.
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 5-star hotel.
What happens to foreclosure during insolvency?
Under Romanian law, all foreclosure procedures must be suspended once a company enters insolvency.