UniCredit Asks For Avrig 35's Insolvency

07.08.2011 By Cristi Moga

UniCredit Tiriac Bank has filed a petition requesting the insolvency of Avrig 35 and Avrig Asset Management, after having lent them more than EUR70 million over time for real estate projects initiated by Alexander Hergan, the low-profile businessman that founded the Avrig 35 group that the two subsidiaries are part of, one of the largest developers in Romania.

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Keywords:
UNICREDIT
, AVRIG 35
, INSOLVENCY