November 22, 2017

Plafar exits insolvency

The Bucharest Court has approved the request filed by tea producer SN Plafar to exit insolvency after the company has managed to pay all of its debts (at nominal value), declared the company’s judicial administrator, Assistance Insolv, part of Borza & Asociatii. In 2009, Plafar entered insolvency at the request of its main shareholder, the Ministry of Economy, for debts worth RON 5.1 million (approximately EUR 1.2 million).  One year later, the company’s creditors approved the reorganization plan proposed by the judicial administrator. The Romanian state owns some 51 % of Plafar and the rest is owned by Fondul Proprietatea. Representatives of the Ministry of Economy have previously announced that following the exit from insolvency, Plafar will be privatized.

Source: Business-Review (read more)

Posted 7/11/2013 10 04pm manan shah, college writing service phdmathematician, consultant, owner of think

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