Euro Habitat enters insolvency procedures

Euro Habitat, the developer of the Planorama residential project in Bucharest, has entered insolvency procedures through reorganization. The Bucharest court has opened the procedures and appointed a judicial administrator to lead the reorganization of the company. Euro Habitat says it had no knowledge of the existence of an insolvency file in its name. Almost half a year ago, a new administrator for the project – BSR Europe – was appointed. It attempted to restart the project by getting a new financing line from Piraeus Bank.