ROMANIA Real estate developers in Romania, looking to benefit from low construction prices (down 30 pct due to the financial crisis), are resorting to claiming on letters of guarantee from construction companies, mainly due to delays in project completions. In the first months of this year, companies such as Tiriac Imobiliare and Bouygues, Asmita and Strabag, as well as Extenso and Synergy, were involved in negotiations, with most of the disputes ending up in court. (Source: standard.ro)

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