Romanian steelmaker Liberty Galați risks insolvency as tax agency rejects restructuring plan
Romania’s largest steelmaker, Liberty Galați, is on the brink of insolvency after the National Agency for Fiscal Administration (ANAF) voted against a proposed restructuring plan, according to Remus Borza, president of Euro Insol, the…
iulian ernst · Journalist
· Updated · 2 min read
Romania’s largest steelmaker, Liberty Galați, is on the brink of insolvency after the National Agency for Fiscal Administration (ANAF) voted against a proposed restructuring plan, according to Remus Borza, president of Euro Insol, the court-appointed receiver, quoted by Ziarul Financiar.
Speaking on July 7, Borza warned that “the consequence of this vote will be bankruptcy,” despite the strategic importance of the Galați plant to Romania’s industrial sector. He confirmed that Euro Insol has requested an extension of 30 days from the Galați Tribunal to continue negotiations and secure enough creditor support.
