Turkish company Ozer Construction, which built the Bucuresti Mall and the America House office building among other projects and also started to develop its own projects (Belleview in Sinaia), has gone bankrupt, as a result of the over 30 million euros in debt accumulated by the company. “Ozer Construction had over 100 creditors, some of which requested the company’s insolvency. Ozer representatives challenged the creditors’ request, but this petition was denied, so that the company entered bankruptcy proceedings directly,” Gheorghe Piperea, the managing partner of the Piperea & Asociatii law firm, which represents Ismail Ozer, shareholder and president of the company, told ZF. Companies that filed petitions to have Ozer Construction’s declared insolvent include Eco Public, Vertical Design, and construction materials distributor Sipex Company. “We delivered thermal-insulating construction materials for the project Ozer was building in Pipera. We didn’t get our money back, so we filed a petition to have them declared insolvent,” said Sipex Company representatives. Ozer representatives could not be contacted by the time this issue was ready for print. According to the company’s website, it had construction works underway for the Felicity residential complex (1,000 housing units developed by GTC) and Oxford Residential (250 villas developed by Willbrook) in Northern Bucharest.

Subiecte #Ismail Ozer#Ozer Construction