ROMANIA The Grand Arena Mall in Bucharest has been declared insolvent after three construction companies (Arcon Constructions, Climatehnic and CZ & C) petitioned the courts for repayment of debts, according to local media.
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The owner of the shopping centre, Euroinvest Intermed, has appealed the ruling claiming the decision to be unfair and groundless. The centre originally opened in 2009.
