During the restructuration process, the company intends to continue its activity as usually, the company’s management being assisted by the administrator designated by the Court, Mediafax writes.
In order to solve its liquidity problems, the company proposed its creditors a restructuration plan, which provides the postponement of Plaza Centers obligations for a period of three-four years or shorter, if the cash flow will allow it.
In the beginning of 2011, the real estate company Plaza Centers, controlled by the Israeli businessman Mordechay Zisser, which should develop the commercial centre project on the plot of Casa Radio in Bucharest, had suspended its activity in Romania.
The companies Plaza Centers N.V. and Plaza Centers Management B.V., the associates of Central Plaza in Bucharest, have decided in the beginning of January to suspend the company’s activity for three years, starting with 15th of January 2011.
Plaza Centeres intended to invest in Romania in projects with a total value of nearly EUR 2 billion, the largest of projects being Dambovita Center, built on the 600,000 sq. m platform of Casa Radio. (source: dailybusiness.ro)
