The Chisinau Appeals Court on May 16 quashed the April 21 judgment by which the introductive application by SRL “Fastcomtrans” to institute insolvency proceedings against the Chisinau Capital Constructions Division was accepted and a temporary administrator was named at the Division, IPN reports.

In a press release, the Chisinau City Hall says the court accepted the appeal filed by the Division’s head Roman Sofroni.

On May 18, the Supreme Court of Justice will examine the review application submitted by the Chisinau City Hall against SRL “Fastcomtrans”.

At end-April, the Chisinau Appeals Court passed a judgment by which it sequestrated the property of the Capital Constructions Division based on the introductive application filed by the representative of the creditor SRL “Fastcomtrans”. This asked to institute insolvency proceedings against the debtor – the Capital Constructions Division of the Chisinau City Hall.