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Bucharest
April 20, 2021
BUSINESS

RAAN Drobeta-Turnu Severin files for insolvency

The government has decided through an emergency ordinance and through a waiver from certain legal provisions that the Autonomous Administration for Nuclear Activities (RAAN) Drobeta Turnu-Severin has become insolvent, upholding RAAN’s right to conduct its activity, to administer and use the assets it owns, Mediafax informs. The government justified this procedure through the non-existence of a special law that would regulate the insolvency procedure in the case of autonomous administrations. The exceptional measures are also justified by the fact that RAAN Drobeta Turnu-Severin needs juridical protection, being a strategic company that operates installations and substances for the production of heavy water and related products that have a high degree of danger and complexity. At the same time, RAAN, as a specialized economic operator, will have the obligation to maintain the state stockpiles of heavy water in the quantity and quality agreed by contract, the receiver in bankruptcy not being able to denounce these contracts. For this purpose, RAAN will be loaned coal and fuel oil from the state reserve. According to the law, the special administrator will be appointed through an order signed by the Energy Minister.

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