Dinamo FC to become insolvent, Bucharest Court decides


The Bucharest Court magistrates have accepted the insolvency request filed by Ionut Negoita, FC Dinamo Bucharest’s majority shareholder. “It admits the request filed by debtor SC Dinamo 1948 SA. On the basis of Article 32, Paragraph 1 of Law 85/2006 concerning the insolvency procedure, it opens the general procedure against debtor SC Dinamo 1948 SA. It orders all banks where the debtor has accounts to prevent access to them without an order from the syndic judge or of the trustee in bankruptcy, the latter having the obligation to notify the banks. It appoints Dascal Catalin Andrei trustee in bankruptcy, the latter set to have the prerogatives stipulated in Article 20 related to Article 49, Paragraph A of Law 85/2006 on the insolvency procedure, with a salary of RON 1,500 to be paid from the debtor’s assets,” the court ruling reads. The court has set September 10 as the date for the continuation of the procedure.
FC Dinamo Bucharest majority shareholder Ionut Negoita announced on May 14, 2014, that he had started the insolvency procedure for the club he leads, because of the very high debts it inherited from its former shareholders. Back then Negoita complained that Dinamo “was robbed in several ways” during “a criminal decade” in its history, “whether we are talking about the clear episodes we are seeing today, such as the transfers’ case, or about things that took place behind closed doors.” “Thus, the results were transfers, player contracts or commercial contracts that were very damaging for the club, but extremely advantageous for some of the former shareholders or their companies. The result of the theft was extremely painful and palpable: a club buried in debts, almost without a shot to the future. I am saying these things with the bitter taste that a good-faith Dinamo fan can have, a Dinamo fan that risked everything in order to save this club,” Ionut Negoita wrote in an open letter. “The straw that broke the camel’s back” and that determined the club’s leader to take this decision consisted of “a new debt worth several millions” which “popped out of nowhere.”

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