The Alba Iulia Court of Appeal cancelled the insolvency of state-owned energy producer CE Hunedoara at the end of May, but the company filed again for insolvency at the end of June.
The two-month intermezzo worsened the companys financial indicators as its total debt went up by almost EUR 22.5 million, reports local Profit.ro. The companys liabilities thus reached EUR 320 million.
CE Hunedoara is the biggest company in the Valea Jiului area and in the Hunedoara county. It is the only provider of thermal energy in the area. The Government has been trying to save it from bankruptcy.
The company first entered insolvency at the beginning of the year with debts of over EUR 291 million. It was an attempt to avoid bankruptc…
Read the full article at: http://www.romania-insider.com/big-romanian-energy-producer-goes-insolvency-higher-debt/
