Page 175 - Carte Falimentul BIR

"From the verifications carried out at the Bucharest Court - Section VII
Bankruptcy, related to the investigation of file no. 5615/2000 on the International
Bank of Religions bankruptcy, there were drawn conclusions that highlight
deficiencies ..."

Neither Mr. Dan Lupascu nor the CSM have sketched or expressed the slightest
interest in starting any legal proceedings to assert what would be the deficiencies
found by the Ministry of Justice in the BIR bankruptcy case!

9. During the investigation, the former government adviser Fănel Păvălache,
arrested and convicted for lobbyism, himself a liquidator, confirmed, through
written statements, that the above mentioned interest group was established as of
1997, for the purpose of the Romanian banks premeditated bankruptcy, that this
group managed to issue normative acts to cover its criminal activity and to make
the operations look legal, and that in its criminal activity, the group managed to
attract certain magistrates who gave decisions with disrespect for the law.

10. The BIR bankruptcy planning is obvious, even from the GEO no. 118/2000,
signed by the former Deputy Governor Mihai Bogza, who, starting with the end
of March 2000, was certain that the International Bank of Religions would be
bankrupt by July 2000, which was the purpose of establishing special supervision
on January 15 2000 on BIR.
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This was confirmed by the fact that, as it was shown, the BIR bankruptcy petition
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was drafted on June 29 2000, but not registered with the Bucharest Court, for
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the next day, June 30 2000, to be issued GEO no. 118/2000, and the BIR
bankruptcy to be initiated, under the unlawful terms mentioned, only ten days
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after the request was drafted, respectively, on July 10 2000.

11. In order to get out of the crisis, intentionally caused by the National Bank of
Romania, by imposing restrictive measures on the bank’s object of activity, the
management of the International Bank of Religions requested, through repeated
correspondence, according to the provisions of Law no. 101/1998 on BNR's
Statute, granting a short-term bridge-credit of ROL 300 billion, mentioning that
this will avoid a financial effort of the Deposit Guarantee Fund in the banking
system, exceeding ROL 1,900 billion.

The legal framework regulating the loans that may be granted by the BNR to
commercial banks, for the protection of the systemic risk, is the one stipulated by
art. 20 and 27 of Law no. 101/1998 on Statute of the BNR.

Thus, art. 20 of the Law no.10/1998 refers to BNR lending to banks, stipulating:

"Within its monetary, currency, credit and payment policy, the National Bank of
Romania may grant loans to banks for periods not exceeding 90 days, guaranteed

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