Chisinau, November 9 (Infotag). The first case of a classical capture - the illegal seizure of the Budjac-gas stock corporation for the purpose of its alienation has been reported in Moldova. Head of the Brodsky Looper Red & Partners Bar Company David Brodsky, who represents the interests of the Virtek American company, said it at a press conference in Infotag.

According to him, in November 2005 the Budjac-gas stock corporation was excluded from the privatization program and a contest on transferring the state shares (82% worth 6.9 million lei) in this enterprise to trust management was announced. The Liutinos company, which assembles furniture, grows and sells plants, won this contest. The company has a minimal authorized capital and has no property.

Brodsky specified that the terms of transferring the state enterprise to the trust management are very doubtful - 85% of the enterprise’s profit in exchange for providing the sale of 15 thousand tons of condensed gas that comes out of the reasonability frame, both in the republican and in the world practice – at most 10% of the profit is given for management.

Already in a week after the beginning of new management activities, the sales of gas by Bujac gas decreased five times and in a month and a half the enterprise stopped. The employees were sent on vacation at their own cost. According to the decision by the Economic Court of Appeal $737 thousand must be recovered from Bujac gas in favor of the creditors.

“However, the Bujac gas administration refuses to fulfill the court’s decision, it does not allow the representatives of law and order authorities, bailiffs and the new temporary manager, appointed by the court, to enter the territory of the enterprise. Our appeals to higher bodies are neglected” the Lawyer remarked.

Virtek representative Serghei Ciorba said that their main objective is to return debts.

“But even the sale of the property will not cover the losses of six creditors of Bujac gas, including Banca Sociala. It would be more reasonable to take a decision to resume the enterprise’s activities and it will be able to repay the indebtedness in five years. For this purpose we are ready to make additional investments to Bujac gas”, Ciorba reassured.

The Virtek company supplies oil products to the Balkan, CIS and West-European countries. The annual turnover is about $80 million. During the last years the company has cooperated with Bujac gas, it was the main supplier of condensed gas.