In February 2013, the Court of Appeal in Pitesti has issued a favourable sentence for the businessman Valentin Visoiu, the owner of Conarg real estate developer.
Through the sentence, ANRP was forced to issue a compensation title for the 905,000 sqm plot of land in Stefanesti, Arges district, with the value of 44.1 million lei, according to the evaluation report drawn by Bucharest company Romcontrol.
The decision of Pitesti court was through appealed at the High Court of Cassation and Justice. On 28 of November 2012, the high court has rejected irrevocably the appeal declared by the Central Commission for the Compensations Establishment of ANRP against the sentence from 22 of February 2012 issued by the Court of Appeal in Pitesti.
In this restitution file from 2011, next to Conarg owner there are also a series of Pitesti lawyers.
Through Conarg Real Estate, Visoiu has developed in Bucharest the projects Quadra 1, Quadra 2 and Rasarit de Soare, with over 1,000 residential units.
Moreover, a company in Conarg group intended to build in 2010 a hotel in Pitesti under Ramada brand.
The National Authority for the Restitution of Properties (ANRP) has published on its site a list with the compensation titles issued on 27 of June.. The biggest compensation approved, with a value of 297 million lei (EUR 67 million) belongs to Vasile Geambazi, a nephew of the businessman Gigi Becali. (source: dailybusiness.ro)