Another Romanian state-owned power producer voluntarily files for insolvency – Romania-Insider.com

The board of directors of Romanian state-owned power producer Complexul Energetic Hunedoara (CEH) decided on Monday evening to ask for the companys voluntarily entry into insolvency. The energy company has total debts of RON 1.2 billion (some EUR 266 million) and several creditors have blocked its accounts. The board also decided to dismiss…

Estonian Air formally declared bankrupt after EU ordered it to repay state aid – Winnipeg Free Press

TALLINN, Estonia – An Estonian court has formally declared the Baltic nation’s state-owned airline bankrupt after it ceased operations last month following a European Union order to repay millions in state aid. The Harju County Court said Tuesday that the bankruptcy proceedings for Estonian Air are to be carried out immediately, with the first meeting…