Consultancy company KPMG, the special manager of insolvent insurer Astra Asigurari, won in court the temporary suspension of the insurer’s foreclosure on account of a EUR 21.6 million debt.

This represents the amount Astra Asigurari owes to the National Company for Highways (CNADNR), reports local Economica.net.

The insurer had all its accounts blocked by the bailiff.

KPMG has already announced the Financial Supervisory Authority about the company’s situation. It has also asked the bailiff for a payment schedule plan of the insurer’s debt. The plan would allow the insurer to continue its activity while still paying its obligations.

Astra Asigurari has been under financial administration for almost a year. Its fate is still unclear, as the company’s liquidity ratio approaches zero. The insurer needs an urgent EUR 100 million boost.

editor@romania-insider.com