‘Societatea Feroviara de Turism’ enters insolvency

A court admitted Monday the insolvency request of Societatea Feroviara de Turism SFT-CFR (the Railroad Tourism Company), which enters judiciary reorganisation after it accumulated debts exceeding RON 7 M, and must recover litigious claims worth RON 10 M, the Ministry of Transport informs in a press release. “After the closing of the insolvency procedure, we will analyse the possibilities to privatise the company,” adds the document. The company deals in the rental of railroad assets (buildings, terminals, land, railway lines) and of the accommodation units it controls, and rents tennis courts, football and basketball fields, as well as boats. At the end of last year, the company had cumulated debts of RON 7.2 M and litigious claims worth nearly RON 10 M. The debts include outstanding sums to the state budget starting 2010, tax on buildings and royalties since 2009, pertaining to the Bucovina hotel of Vatra Dornei, which has been impounded, tax for buildings starting 2010 relative to the Decebal complex of Eforie Nord (impounded), tax starting 2011 for the Grant hostel, the headquarter of the company (impounded) and tax for the Snagov tourist complex.

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