The court confirmed the end of the reorganization procedure of ELCEN Bucharest, thus officially marking the reinsertion of the company into the economic circuit. Ovidiu Neacșu, founding partner of Sierra Quadrant, stated that the process was a difficult one, which required two reorganization plans and four years of sustained activity.
“After four years and two reorganization plans, Sierra Quadrant has managed to transform a bankrupt company of strategic interest into a solid economic actor that can fulfill its important role in the heating system of the Capital without the additional pressure brought by the state of insolvency.
These four years were marked by many additional challenges of a technical and professional nature, which made the reorganization procedure more difficult. The Romanian state has very well-trained officials and politicians who, however, are captive to an ossified system, not adapted to the requirements of a modern economy. The lack of flexibility of the system is one of the main causes that prevent the modernization of the country as a whole, and of the business environment in particular,” says Ovidiu Neacșu.
“We need not only new, simplified and efficient laws, but especially clear procedures, adapted to reality and oriented towards solving problems. At the same time, Romanian politicians must understand that certain events transcend any divergence, of any nature, and fall under the category of situations of national interest, which require close collaboration on their part.
”Also, the role and way of organizing town halls must be completely rethought, so that these institutions and the people who lead them leave as much as possible the sphere of political control to be able to act as effectively as possible in the interest of the citizens,” added Ovidiu Neacșu.
Among the significant files currently managed by Sierra Quadrant are CET SA Bacău, Letea SA Bacău, Servicii Energetice Moldova SA, Donau Chem, Compania de Navigație Fluvială Giurgiu NAV S.A., Teleferic SA, Rombet SA and GA-PRO-CHEMICALS S.A.