Ex-director of “Glorinal”: The stake was and remains my removal

The former director of the building company SRL “Glorinal” Vasile Chirică, who is prosecuted alongside another seven employees of the company, said the stake was and remains his removal from the company’s administration so that the tangible assets of “Glorinal” could be purchased at a derisory price through the insolvency process or through dubious transactions. These assets include lots and multiple constructions in the municipality of Chisinau.
In a news conference at IPN, Vasile Chirică said that he had managed the company since 1998, when the limited liability company was founded and registered. His participation share was of 95%. “Glorinal” built and sold over 3,000 apartments in the municipality of Chisinau. It also erected private homes, including in Cotul Morii village of Hâncești district, where floods occurred in 2010. The company also built social facilities, like the University of Physical Education and Sport, the Embassy of Belarus in Moldova, the  Curchi Monastery and the Saint Peter and Paul Church of the Metropolitan Church of Bessarabia. “We had never been reproached for the quality of constructions, for not meeting deadlines before the dispute with bothers Vladimir and Oleg Nemțanu,” stated Vasile Chirică.

According to him, when the economic crisis started in 2008, the company was at its height with great plans for the future and with almost 1,000 employees, with four residential complexes under construction, two residential complexes with project and construction authorization and two complexes at the designing stage. In 2012, they experienced a shortage of working capital as the sales of apartments had declined.  It was decided to finish some of the blocks that started to be erected in partnership with other companies, while others, like the residential complexes situated on Calea Orheiului St and Valea Trandafirilor St, with own forces.

The complex located on Calea Orheiului St was fully erected by the first half of 2015 and all the 215 apartments were put into operation in June 2016. The final receipt of three blocks took place in 2017, but blocks No. 4 and 5 remained without final receipt because the areas on the first floor could not be finished due to the dispute with the Nemțanu brothers. The company honored its obligations and executed all the works according to the project. In the spring of 2015, the brothers were offered particular areas, but the two investors disappeared for another two years and appeared in April 2017 with the application to terminate the investment contracts and to get their money back during seven days. Together with penalties, the sum amounted to €1 300 000.  The Buiucani Court ordered to seize assets of SRL “Glorinal” worth €885 000. Bailiff Vitalie Guțu seized all the company’s assets that at that moment were valued at 276 million lei, blocking the company’s activity. The company could not sell assets to repay the loan without the consent of the Nemțanu brothers, who rejected all their proposals to solve the dispute. The raider attack on SRL “Glorinal” started in that period.

The insolvency proceedings were started and administrator Ruslan Vasiliev compiled the final table of creditors, with the first hearing to validate the debts being held. But the Nemțanu brothers made effort for Ruslan Vasiliev to be charged and another administrator, Ion Popa, was named in July 2020.

“Glorinal”, which is now under insolvency process, has sufficient assets to pay absolutely all the creditors. If legal action against Ruslan Vasiliev hadn’t been taken and he had served as insolvency administrator further, all the creditors would have been paid and the company would have returned to normal activity, concluded Vasile Chirică

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