Contract between Circus and Cypriot company invalidated

The Economic Court of Appeals on March 31declared the contract signed by SA “Circul din Chisinau” and the economic entity from Cyprus in 2008 null and void, Info-Prim Neo reports, quoting a communiqué from the Prosecutor General’s Office. Under the contract that was to be valid for 29 years, the company was to reconstruct the building of the Circus in exchange for using the property of SA “Circul din Chisinau” to the value of about 70 million lei. But it did not fulfill its obligations. According to the prosecutors, the interests of the state and the joint stock company were affected as a result of the signing of the contract. The Circus’s employees have not been paid salaries for a long period of time. Last February, the Prosecutor General’s Office filed a civil lawsuit, asking that the contract between SA “Circul din Chisinau” and Pesnex Developments Limited be invalidated.