EC Hunedoara reentered insolvency – Romania, 23 June 2016

The Hunedoara Court approved the decision on Energy Complex (EC) Hunedoara reentering insolvency and again appointed GMC SPRL Craiova as the company’s judicial administrator.
In early June, Iulia Alba Appeal Court has cancelled the insolvency of EC Hunedoara, according to the appeal made by Noroc Bun trade union against the sentence of syndic judge of entering in insolvency. This decision leaves the state-owned company without any protection from its creditors and allows the implementation of forced execution pland, which could leave EC Hunedoara without part of its assets.

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