Nordis Group announced on Monday that the Avangarde group of companies, led by Ștefan Unchiașu, has expressed its intention to acquire the Nordis business. According to Nordis representatives, attracting a strategic investor is “a realistic and sustainable solution” to maximize the chances of recovering the amounts invested by creditors in the current context of the company.
“We are interested in acquiring the Nordis business and, as a result, we have submitted a letter of intent for Nordis Mamaia SRL and Nordis Management SRL, the group’s main companies. We have begun the due diligence process and hope to make a decision by the end of this year,” said Ștefan Unchiașu, Avangarde administrator, in a press release.
The final decision will be made following detailed legal, technical, and financial-accounting analyses and is conditional on approval by the General Meeting of Creditors for the two letters of intent. “We aim to fully leverage this business opportunity and further develop the Avangarde Group. We have been active in the real estate market for over 15 years, completing and delivering more than 5,000 apartments, and we currently have another 1,500 apartments under development in Bucharest and surrounding areas,” added Unchiașu.
Emanuel Poștoacă welcomes Avangarde’s initiative
Emanuel Poștoacă, special administrator of Nordis, welcomed Avangarde’s initiative: “I am pleased that the development potential of the Nordis group has the chance to be realized by a Romanian entrepreneur with significant experience in the real estate sector.”
This announcement comes amid a complicated context for Nordis. On February 4, authorities detained 11 individuals, including Laura Vicol and Vladimir Ciorbă, accused of forming an organized criminal group, embezzlement with particularly serious consequences, money laundering, tax evasion, and fraud with particularly serious consequences. The involved individuals are also alleged to have willfully established taxes, duties, and contributions in a way that allowed them to obtain undue sums from the consolidated general budget.
The following day, the Romanian Police imposed seizure measures on 201 properties – including apartments and houses – five commercial spaces, 22 plots of land, 11 vehicles, and various company shares. Additionally, 48 bank accounts belonging to both individuals and companies involved were blocked.
DIICOT representatives provide updates on the Nordis investigation
On August 22, DIICOT representatives provided updates on the Nordis investigation after former Justice Minister Stelian Ion claimed the investigation was stalled. DIICOT stated that the investigation is proceeding efficiently and systematically, with strict respect for the rights of all parties, and that necessary evidence is being administered to establish the truth.
Since February 3, 2025, several investigative actions have been carried out: unsealing tens of thousands of documents in the presence of the individuals from whom they were taken, computer searches on 230 electronic devices including servers, interviewing over 2,000 individuals with different procedural roles – more than 600 of whom are victims – and compiling a criminal investigation file currently comprising over 400 volumes.
DIICOT indicated that judicial expert reports will be ordered by prosecutors after the completion of victim interviews and the corroboration of existing evidence. Some victims reside abroad, which extends the scheduling of interviews. Evidence will be made available to designated experts, including those proposed by the parties, to ensure complete and objective conclusions.
Former Justice Minister Stelian Ion claimed that the Nordis investigation was stalling due to a lack of funds provided to DIICOT by the Public Ministry. In response, the ICCJ Prosecutor’s Office denied these claims, stating that DIICOT has not requested funds and that no expert reports have been ordered or carried out to date.
