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May 17, 2022

Bucharest Court of Appeal rejects petition for founding Hidroenergetica

The Bucharest Court of Appeal rejected, by a final decision, Hidroelectrica’s petition for the registration of the project for the company’s division and  merger, with a view to founding the national company Hidroenergetica, Mediafax informs.

The Bucharest Court rejected, in December 2010, the project for the  division of the company Hidroeletrica and its subsequent merger with the  view to founding the national company Hidroenergetica, arguing that the  merger of the energy companies, concomitantly with the division of Hidroelectrica, could not take place. The Ministry of Economy and the  companies involved in the creation of the national energy company Electra announced, at the time, that they would contest the ruling of the Bucharest Court of Appeal, which rejected their project.

The Hidrosind Federation  stated, yesterday, in a press release, that, in their rulings, the courts  “shared the trade unions’ criticisms regarding the illegal nature of the  projects, both insofar as they act in violation of the trading companies law,  in terms of the Government’s illegal attempt to divide Hidroelectrica,  concomitantly with setting up, by merger, two new companies, as well as  insofar as the projects failed to highlight, accurately, the assets and  liabilities which were to make up the two new companies’ patrimony”.

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