FONDUL PROPRIETATEA IN 2010: LEGAL AND POLITICAL RISKS
December 2009
The report addresses risk issues relating to the property restitution process in
Romania. The political initiative to set up in 2005 an investment fund to deal with
the demand and right to compensation, in the shape of the Fondul Proprietatea (the
Fund), was salutary. But the initiative also implicated Fondul Proprietatea in Romania's
most uncertain legal area. Litigation is pending against the state and this, together
with the complicated compensation procedure initiated after the Fund was set up
poses significant legal risks for the future of the Fund. These legal risks supplement
the other variables in relation to this structure and they will run in parallel
with the Fund even after its planned listing.
This report provides the most comprehensive analysis on a subject often ignored
by investors considering building a stake in the Fund. It represents a unique tool
for anyone interested in the Fund in 2010 as well as the political forces at play
in determining its future. The report is based on information gathered locally,
by Marker Global's consultants, thus giving clients access to exclusive analysis.
Contents of the report : Executive Summary; Definitions;
Background; Legal Framework; Share Capital; The Management; Trading in Compensation
Titles and Fund Shares;Compensation Procedure - the theory; Compensation Procedure
- the practice; Political Risks; The future of the Fund; Conclusion;