New institution to capitalize on seized assets in Romania

The Romanian Government will create a special institution to capitalize on the assets seized in criminal court proceedings. The state tries to increase the capitalization rate to at least 25%, as the current level is very low. The new institution will be called the National Office for the Management of Seized Assets and should get the go ahead by the end of March, reports local Mediafax. The recent Cooperation and Verification Mechanism reports found difficulties in the state’s activity to capitalize on the seized assets. This was because several institutions shared management competencies for the seized assets. editor@romania-insider.com