English
The Brasov Court has again postponed passing judgement on the Rulmentul SA case after one of the minority shareholders, SSIF Orizont Invest - Oradea, challenged the Shareholder Meeting"s decision to liquidate the company. The Court should rule on the matter by September 4th, when the deadline set by Ordinance 3/2007 expires. The ordinance regulates insolvency procedures for a number of companies, including Rulmentul.
"AVAS must find another solution, as they did at IAR, where they created several modules and swapped debts for shares, or as they did at Electroputere - Craiova," said Nicolae Rusu, the CEO of SSIF Orizont Invest - Oradea. He added that AVAS had received several offers from foreign investors interested in acquiring Rulmentul. Rusu would agree to any solution (swap, debt cancellation, privatization etc) except for liquidation. Rulmentul fired all employees last month, pending shutdown.
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