Marfin Leasing to auction off refrigerators and excavators

Marfin Leasing, held by Cyprus-based Marfin, which has in the last year or so suspended financing activities and is seeking to get rid of goods repossessed from bad payers, is holding an auction today to sell cars, lorries, excavators, and various types of equipment worth a total of over 4.64 million euros (starting price).
In all, the company is trying to resell 245 items – cars, lorries, excavators, coaches, refrigerating equipment, as well as fowl breeding facilities, all repossessed from clients who did not pay their instalments.
Marfin Leasing was in the past years the target of several frauds, which cost it over 20 million euros. The frauds only came to light in 2009, according to market sources. They were cases where Marfin granted financing to companies that later disappeared without repaying the money, which was difficult to recover. The cheapest item auctioned is a Dacia Pick-up from 2006, for 1,400 euros.
The auction organised by Marfin Leasing is held today at the headquarters of Cathellas Truck & Trailers SRL in Otopeni town, where the leasing company stores part of the goods recovered.