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June 27, 2022

Romstrade files for insolvency

The company controlled by Nelu Iordache, SC Romstrade SRL is insolvent, the Giurgiu Tribunal decided Monday, admitting the demand filed by creditor company SC Agroindustrial Construct SRL, realitatea.net reports. By the same sentence, the court ruled to completely cancel the administration right of the debtor, when the judiciary administrator is appointed. Judges also ordered all the banks where Romstrade has accounts to stop any operation with these accounts that is not ordered by the judge syndic or the judiciary administrator. The court appointed as provisional judiciary administrator the Bucharest branch of the insolvency house ‘Casa de Insolventa Transilvania’, until the first meeting of creditors is held. Nelu Iordache was arrested last week and he is currently investigated by anti-corruption prosecutors for embezzling EU funds.

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