Veaceslav Sahanovici, who runs the investment company “Sah & CO Invest”, said the business may go bankrupt because the court is not objective. The company is now close to insolvency as the court obliged it to pay 13 million lei even if it made all the payments to a sub-contractor.

In a news conference at IPN, Veaceslav Sahanovici said that “Sah & CO Invest” purchased land on which to erect buildings and pledged to cover the costs for the construction design and for communications. But another company was contacted to execute the building works, which has a construction license. Instead, “Sah & CO Invest” got the right to own 27% of the apartments. After seven persons paid money for having their apartments constructed, the homebuilding company stopped the works.

Veaceslav Sahanovici said he demanded that the contract with this company be terminated because it dies not fulfill its obligations, but received no answer. If they go to court, the trial can last for several years. In the period, the apartments will not be built. The construction was to be finished at the end of 2012.

“Sah & CO Invest” sold seven apartments, while the homebuilding company – 10. Now none of them can give the money back to the families that invested money in apartments. The homebuilding company is also on the verge of bankruptcy. Ruslan Tambal, who invested money in an apartment bought from “Sah & CO Invest”, said that when the company goes bankrupt, the building will be sold at an auction at a low price and the investors will receive only a small part of this money. Thus, the people will lose both the money and the apartments.

A similar situation is witnessed at a building site where “Sah & CO Invest” has ownership rights over 3% of the area. Though it fulfilled its contractual obligations, the company is forced to cover the construction costs.

The owner of “Sah & CO Invest” and the families that invested money in the apartments call on the authorities to deal with this case as the people remain without money and homes and the investors lose their businesses owing to groundless court decisions. “Sah & CO Invest” wants to terminate the contract with the building contractor and the works to be competed by another company.

Opponents of the organizers of the news conference came to the event and stated other viewpoints.