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February 27, 2021

Hidroelectrica to find out insolvency case ruling next week

The Bucharest Court has postponed for a week its decision on Hidroelectrica’s bid to get out of insolvency, since another assessment has to be carried out in order to settle the challenge filed by an energy trader, stated Remus Borza, the representative of Euro Insol, the company’s trustee in bankruptcy.

“The decision has been postponed for June 15 because at the final challenge, the 75th, filed by Energy Holding (one of Hidroelectrica’s former clients – editor’s note), an accounting assessment was ordered into the damages this trader demands as a result of the cancellation of its contract with Hidroelectrica,” Borza said.

Hidroelectrica has been insolvent since February 2014, for the second time. The company had previously been insolvent from June 2012 to June 2013.

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