The court of Bucharest today admitted the request for the insolvency of Flamingo International, after its subsidiary Flanco had received the green light for the same proceedings, allowing the financial reorganization of the company by protecting it against its creditors, Flamingo announced.
RVA Insolvency Specialists was appointed as administrator of Flamingo International, whereas the reorganization of Flanco will be handled by Transilvania Insolvency Law Firm.
Trading of Flamingo stock was halted again today starting at 11:35.