AVAS seeking loan to pay claims to FNI victims

The State Assets Realisation Authority (AVAS) will submit to the next week Government's meeting a draft normative act on raising a RON 212 million loan from the Treasury to pay defrauded National Investment Fund (FNI) deponents, AVAS reports in a press release.
AVAS will submit a draft emergency ordinance to get the amount from the Treasury, and the funds thus raised will be fully used to pay out the claims established in court for the FNI victims.
AVAS has so far paid out RON 242.47 million to the FNI victims, thus covering more than 45 percent of the claims. The first claims were paid on September 18, 2007. The National Investment Fund (FNI) was set up on August 17, 1995, under the administration of SOV Invest. The demise of the FNI in May 2000 affected nearly 300,000 investors.
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