Pension Pillar II scandal: Former NN Pensii chief wins lawsuit against ASF, to receive moral damages

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Former NN Pensii chief, Raluca Tintoiu, has won the lawsuit against the Financial Supervisory Authority (ASF) whereby she requested the cancellation of the contravention in the context of the scandal regarding the nationalization of Pension Pillar II.

The Bucharest Court of Appeal has decided to repeal the decision regarding the sanction and the payment of moral damages worth EUR 1,000. The decision may be appealed to the High Court of Cassation and Justice (ICCJ – Supreme Court).

“The Court admits the challenge, partially. It repeals the sanctioning Decision No. 541/14 April 2017 issued by the defender, the documents which were the basis for its issuance, as well as all the subsequent documents, including Decision No. 1090/August 4, 2017 for the settlement of the preceding complaint. It orders the defendant to pay EUR 1,000 (in RON, at the National Bank exchange rate on the date of payment) as moral damages. The right for appeal is 15 days from communication,” the Bucharest Court of Appeals memorandum reads.

Actually, the Bucharest Court of Appeal has repealed the sanctioning decision issued by ASF in the case of the former general manager of NN Pensii, Raluca Tintoiu, but also all the documents issued based on it.

ASF has withdrawn, on April 13, 2017, the authorization of general manager and administrator of the pension fund and fined her by RON 100,000. Raluca Tintoiu was Chief Executive Officer with NN Pensii since September 2013.

In terms of restitution of the RON 100,000 fine, the Bucharest Court of Appeals has rejected the request because it is filed against a person without a procedural quality. The ASF lawyer explained in court that the fine was not collected by the ASF, but by the Ministry of Finance. Thus, after completing this process, if she wins, Tintoiu must open a separate lawsuit against the Finance Ministry to get the money back.

 

 

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