Remus Borza, Euro Insol: The “wise guys” have resorted to the Court of Appeal. They plan to reopen Hidroelectrica’s insolvency

Bucharest Court of Appeal analyzed on Thursday the appeals formulated by 11 traders, 2 unions and Termoelectrica regarding the decisions of former official receiver of Hidroelectrica not to recognize claims of RON 1.3bn, a decision ruled in their favor leading to the company’s re-entry into insolvency. The “wise guys” are forcing today at the Court of Appeal the reopening of Hidroelectrica’s insolvency. They appealed the measures of the official receiver not to recognize claims of RON 1.3bn, representing damages for terminating the contracts with Hidroelectrica. If only one of the 14 appeals is admitted, Hidroelectrica will become again insolvent”, Remus Borza, representative of Euro Insol, former official receiver of Hidroelectrica, stated. Some of the “wise guys” referred to by Borza are Alpiq Romenergie SRL, EFT AG, EFT România, Elsid SA Titu or Electrocarbon.  Remus Borza informed that Hidroelectrica would be listed on BSE on June 30^th, by selling a 15% stake.