The application for entry into insolvency of Hunedoara Energy Complex (CEH) was canceled by the Alba Iulia Court of Appeal (CA) and the cause sent back to the firs court for retrial, shows a decision of the court in Alba Iulia. The decision opens the way for the creditors of CEH to commence on foreclosures.

Initially, the Hunedoara Court upheld the application of CEH to commence the insolvency proceedings, appointing a trustee, the GMC SPRL Craiova insolvency company, trustee challenged by the Ministry of Energy, which wanted the case to pass in the responsibility of Euro Insol, the trustee of Hidroelectrica.

However, the trustee confirmed by the court submitted a report upon the causes of insolvency of CEH and the Ministry of Energy has publicly announced a restructuring plan for the complex, which includes keeping a production capacity of 400 MW (of almost 1,400 MW) and two coal mines, out of four active ones at this moment. Since the Court of Appeal overturned the decision of entry into insolvency, the measures cannot be implemented until there is a final decision regarding the opening of insolvency.

“The court upheld the appeal submitted by the Petroșani ‘Noroc Bun’ Union and overturned the contested decision, the file being sent back to the Hunedoara Court”, said the Alba Iulia CA spokesman, Cosmin Muntean, quoted by Agerpres.

“Dismisses the exception of inadmissibility of the appeal, filed by the Petroșani ‘Noroc Bun’ Union. Admits the appeal of the Petroșani ‘Noroc Bun’ Union against Sentence No. 1/ F/ CC/ 2016, issued by the bankruptcy judge in the case no. 5194/97/2015. Cancelles the contested verdict and sents the file back to the same court,” says the Alba Iulia CA portal.

According to Cosmin Muntean, the court rejected the plea of lack of representative capacity of the General Manager of CEH in formulating the appeal, writes Agerpres. It also rejected the plea of lack of standing and declared inadmissible the appeals of creditors S.C. Constantin Grup S.R.L. Bucharest, S.C. Hidroconstrucţia S.A. Bucharest, S.C. Deloitte Consulting S.R.L. Bucharest, S.C. Armor Security S.R.L. Criscior – insolvent.