English
The State Assets Recovery Authority (AVAS) has selected 68 liquidators that will be able to participate in the tenders for the liquidation of AVAS-controlled companies. Only candidates that scored at least 70 points out of 100 were selected. Experience in liquidation and the expertise of proprietary personnel was rated at up to 30 points whereas logistic support and turnover could generate up to 20 points.
According to AVAS, over 80% of the State-controlled companies in the Authority"s portfolio are not attractive to investors, whereas 90% of them meet all criteria for becoming insolvent. Nonetheless, the Government in February passed an ordinance postponing the insolvency of 28 State-held companies, including Tractorul - Brasov, Rulmentul - Brasov, Electroputere - Craiova and Nitramonia - Fagaras.
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