September 21, 2018

ONT Carpati to file for bankruptcy

Shareholders of the hotel firm ONT Carpati (ONZV), that owns 35% of the shares of the company that manages the five star hotel JW Marriott from Bucharest, have approved the bankruptcy. ONT Carpati ows 5 million euro to major shareholder, Bank of Cyprus. The credit institution owns 93.82% of ONT Carpati shares through Gosman Properties. Last year, ONT Carpati registered a turnover 12% higher than in the previous year, worth 10.2 million lei, and losses worth 46.2 million lei. ONT Carpati also owns the four star hotel New Montana from Sinaia.

Source: Bucharest Herald (read more)

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