November 25, 2017

Hidroelectrica is out of insolvency

The Bucharest Tribunal confirmed that Hidroelectrica is now out of insolvency. “The latest developments in the company’s indicators make us trustful in the insolvency having achieved its goal. The company would report losses of RON 190 M in the first five months of 2012, while in the similar period of 2013 it posted a record profit of RON 399 M, 110 M more than the previous record profit of 2010, a year with a record output of 19.8 TW,’ said the company’s receiver Remus Borza. He also added that the company’s liquidity increased 20 times and when insolvency procedures were started on June 20, 2012, Hidroelectrica was closed to bankruptcy. The company evolution over the last 12 months confirms the correct decision was made. From RON 190 M loss in the first five months of 2012, the company has moved to a record profit of RON 399 M in the first five months this year.

Source: Nine o’clock (read more)

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