New Liquidator Scrutinizes Tractorul Privatization

F.A.
Ziarul BURSA #English Section / 10 ianuarie 2008

The Brasov County Court has scheduled a hearing in the Tractorul SA - Brasov bankruptcy case for February 27th after the bankruptcy judge on December 20th decided to start the simplified bankruptcy procedure against Tractorul pending the declaration of bankruptcy. The bankruptcy judge also decided that the insolvency procedure should be handled by Info-Dip Insolvency SPRL and not by Casa de Insolventa Transilvania, which handled the liquidation.

"We have been informed that we are going to handle the case, so we are going to have to review the creditor files again to see exactly what we are dealing with," said Info-Dip managing partner Viorica Munteanu. As per the applicable law, Info-Dip will have to audit Tractorul"s operations between 2005 and 2007. Depending on the outcome of the audit, the legal option exists to nullify last year"s asset sale.

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