English
The Bucharest Court of Appeal accepted the appeal filed by Metro Cash & Carry Romania SRL through law firm SCA Bostina & Associates against Commercial Ruling no. 2278 / 16 May 2008 by which the Bucharest Court of Law had ordered the commencement insolvency proceedings against one of the country"s largest retail companies. The Court of Appeal accepted the motion, accepted the debtor"s contestation, denied the creditor"s claim and sent the case back to the Bucharest Court of Law to close the insolvency proceedings. The Bucharest Court of Law had ordered the insolvency proceedings on 16. May 2008 because of a 50,000 EUR receivable claimed by Toneli Holding. On 5. June 2008, Bostina & Associates managed to convince the court to temporarily suspend the insolvency proceedings.
Court Rules Metro Cash & Carry Romania Out Of Insolvency Procedure
F.A.
Ziarul BURSA #English Section / 24 noiembrie 2008
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