The checks made by the Court of Accounts on the Authority for State Assets Recovery (AVAS) in 2008, in order to verify the observance of the contractual clauses contained in contracts for the privatization of several commercial companies revealed the failure by both the buyer and the seller to observe the clauses included in privatization contracts.

Thus, after checks made on the contracts concluded between AVAS and the buyers of the companies Arcelor Mittal Galaţi, Petrom SA and Astra Refinery, violations were found regarding the failure to clarify the legal status of some land plots, in view of obtaining all certificates attesting to the right of ownership, failure to observe the average number of employees established by "personnel strategy", failure to set up a body specialised in post-privatisation environmental issues and failure to increase the share capital with the updated value of the land and the failure to communicate the additional shares to AVAS. Following and during the inspections, there resulted additional revenue estimated at 4,712.15 thousand lei and proceeds from carrying out measures ordered by decisions issued by the Court of Accounts in an amount of 224.70 thousand lei.

As regards the check on the observance by the parties of the contractual clauses contained in the contract of privatization of the steelworks SC Combinatul Siderurgic SIDEX - SA Galaţi (currently SC Arcelor Mittal SA Galaţi), the Court of Accounts determined that, during the period 1 January 2005-31 December 2006, the buyer LNM Holdings NV did not comply with the investment commitments on environmental protection, as well as those relating to the technological improvements assumed through the privatisation contract. At the request of the Court of Accounts, AVAS calculated penalties in amount of 1.63 million U.S. dollars calculated by notifying the buyer in this