Administrator of Romanian Hidroelectrica accepts claims worth EUR 78 million, rejects EUR 261 million

The judicial administrator of Hidroelectrica has admitted request claims of EUR 78 million and rejected claims of EUR 261 million. Banks represent 69 percent of the creditors, said Remus Borza, Euro Insol representative of the judicial administrator of the energy producer.

"There were 381 statements of claim, we have notified 839 creditors after the insolvency of Hidroelectrica,” said Borza in a press conference yesterday (September 10 ). The so called "smart guys" with Hidroelectrica contracts made claims worth around EUR 195 million, which were rejected by the receiver. Reporting the secured debts, the head of Euro Insol said that ten banks and an individual are included, and the judicial administrator has accepted applications of EUR 378 million, while the requested total was EUR 407 million. The individual mentioned is Nicolae Bucurenciu, who sold land to Hidroelectrica, and the biggest guaranteed creditor is BRD with a claim of EUR 95.3 million. Romania's tax administration (ANAF) has requested enrollment in the list of Hidroelectrica creditors for an amount of EUR 32.3 million. The Ministry of the Economy requested around EUR 87 million from the energy company. This amount was admitted under the condition of solving the penal case in which some company executives were indicted along with a former Economy Minister, accused of undermining the national economy. Borza said that the preliminary table was registered in court and will be sent for publication. Unrecognized creditors can contest claims within 5 working days after publication of the preliminary table. Ioana Toader, ioana.toader@romania-insider.com photo source sxc.hu