* Shares of SCUT Constanţa have already been suspended from trading for two months, due to the dispute with the management of the company
* Stuck in the middle in the fight between the two sides, the BSE is being threatened with legal sanctions
A fierce battle for the management of SCUT Constanţa has been waged for a few months now, between SIF "Transilvania", one of the most important players on the Romanian capital market, and investor Constantin Frăţilă, a former referee in the A Division of the Romanian Football Championship, who has invested millions of Euros on the stock market.
On the other hand, SIF "Transilvania" attacked the former referee at "COMCM" Constanţa, where it sued him requesting that he be held liable for his actions as the administrator of the company. Not to be outdone, Constantin Frăţilă, who, according to his own statements, owns 1% of the shares of SIF3, announced that he has begun raising signatures for a new General Shareholder Meeting at SIF "Transilvania" in order to "review the dividend" for 2010, among other things.
The struggle between Constantin Frăţilă and SIF3 seems to have at stake the appointment of the fifth member of the Board of Directors of SCUT Constanţa, which is a key person in the management of the company, as having control over that seat would ensure the majority for one of the two factions.
SIF3 currently has two members on the Board of Directors of SCUT (Floriean Firu and Iulian Stan), being "tied" with the former football referee, who has the other two directors on his side (Iancu Guliu and Mitică Guliu). 64% of SCUT Constanţa is owned by COMCM Constanţa, in which SIF3 is a majority shareholder, with 56.72%. Constantin Frăţilă owns 31.56% of the shares of COMCM and 32.76% of SCUT. He considers that his direct and indirect holdings in SCUT ensure his majority in the company, thus entitli
