Bogdan Tudorache

The file to attract the patrimonial liability of the Bucharest City Hall, in order to recover the debt registered by RADET to ELCEN, was submitted to the court, announced the ELCEN administrator, Sierra Quadrant.

The file to appeal for the patrimonial liability of the Bucharest City Hall (PMB) requires that the court orders the PMB to pay the RADET debt to ELCEN in the amount of 3.83 billion lei, according to the definitive table of claims. In this context, we recall that the PMB had the possibility to pay only 1.1 billion lei (the amount resulting from the debt reassessment report, prepared by an independent appraiser), at the market value of the debt estimated in the case of forced sale to a potential buyer.

Sierra Quadrant also claims that the subsidy for the heat agent is assumed by the PMB, which did not pay the subsidies to RADET, which led to the accumulation of RADET’s debts to ELCEN.
“Due to the non-payment of the subsidy, the financial situation of RADET and, implicitly, the general economic stability of the company, were substantially affected, until the insolvency and the bankruptcy pronounced by the court.”