OREANDA-NEWS. September 08, 2011. The group of investors consisting of six European structures and businessmen from Slovenia and Netherlands (Adriatic Fund B.V., Druga d.o.o., Factor Banka d.d., KIG d.d., Milena Logar and Venture Holding B.V) also welcomed the Moldovan Prime Minister Vladimir Filat’s statement about the Moldovan authorities’ intention to punish swindlers.

Investors said the had become the target of the premeditated attack on the Moldova Agroindbank, and this had been the first case when European investors became victims of such a large-scale attack in Moldova, committed given the gaps in the country’s legal system. It is emphasized that the investors’ shareholding in the MAIB was stolen in July-August this year on the basis of the decision of the Benderi Chamber of Appeals situated in Causani, on recognition and enforcement of the ad hoc arbitral award, presented in a simply copy, that was said to be passed in Saint Petersburg by judges that can’t be found after a one-month search.

The victims deliberately weren’t informed of the examination till the last moment. The investors said the Moldovan authorities had taken urgent stops to prevent similar thefts in future. However, even though the legislation will make such misappropriations more difficult in future, the European investors had been deprived of their shares before this law had been passed and their shares still haven’t been recovered.

Hearing of this case in the Supreme Court Chamber of Moldova will take place on September 14. Alexandr Turcan, the Turcan Cazac law bureau’s partner, representing the European investors’ interests, said it is hard to imagine that the Supreme Court Chamber will ratify these illegal actions on September 14: if the situation isn’t improved, this court precedent will cause a big damage to the security of the ownership right in Moldova for investors. “The stakes in this dangerous game are Moldova’s relations with international investors and international community, including the EU, EBRD, IMF and World Bank”, he said.

In her turn, Moldova-Agroindbank President Natalia Brabie said even though it concerns stockholders, and not the bank itself, the situation is very unpleasant and the bank’s leadership hopes for its settlement as soon as possible. Natalia Vrabie stressed that the MAIB is now financially strong as never before – incomes, liquidity and capital adequacy remain on a high level. “The bank is now in great shape, with great prospects”, she said.

The suffered investors have been the MAIB’s shareholders since 2006/2007 and considered the bank not only as an important object for investments, but also as a successful business with significant potential.