The “Chisinau Arena” sports complex was on the verge of being disconnected from the electricity supply network due to historical and current debts of about 93 thousand lei. The situation had become so critical that, on Thursday, August 25, the supplier “Premier Energy” phoned the company that manages the objective and warned that it was going to interrupt the electricity supply. The multi-purpose arena, the commissioning of which is being held up due to the lack of road infrastructure, has already been disconnected from the gas supply network, also because of debts, and an agreement has been reached with the company providing security for the object on the subsequent payment of the accumulated debts.

The arena, built 3 years ago and not yet operational, is not able to generate any revenue and is not financed by direct budget line. Thus, since the completion of the construction works, the “Arena Națională” Ltd, the company managing the complex, has always been on the verge of defaulting on payments to utility suppliers and creditors.

Ziarul de Gardă found out that in mid-July this year the board of the “Arena Națională” Ltd. had put forward the question of initiating and authorising the insolvency process, given the inability to pay debts of about 2.5 million lei to creditors other than the private partner, which has to recover from the state over the next 10 years more than 28 million euros. It was decided that the initiation of insolvency proceedings was unacceptable, with the Public Property Agency (PPA) to resolve the problems and the Government to allocate financial means to the working capital fund that would cover outstanding debts to creditors and other necessary expenses.