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.