Romania's Authority for Nuclear Activities goes bankrupt

Romanian Authority for Nuclear Activities (RAAN) went bankrupt, according to a decision of the Mehedinti Court. The court appointed Euro Insol SPRL the company’s temporary judicial administrator, reports local Mediafax. Euro Insol is an insolvency house controlled by Remus Borza, who is also the judicial administrator of the power company Hidroelectrica. Borza said that he might refuse the mandate because his insolvency house doesn't take on bankrupt companies that can't be saved. RAAN produced heavy water needed for the electricity production in nuclear reactors of the Cernavoda nuclear power plant, as well as thermal energy to heat the residents of Drobeta-Turnu Severin city. editor@romania-insider.com (photo source: Raan.ro)