Electrica Furnizare
BURSA 07.04.2017

ADINA ARDELEANU (translated by Cosmin Ghidoveanu)
 
mărește imaginea
     * "Sadalbari" creditors include - Banca Transilvania, International Investment Bank, as well as Stareal Limited, the offshore in favor of which the company has pledged its majority stake in "Romcab"
       "Sadalbari" SRL, which owns 69% of "Romcab" (MCAB) has entered insolvency upon request, on March 31st, according to the ruling of the Court of Mureș.
     The event comes one month and a half after the cable maker entered insolvency, also upon request, as the company reported a loss of 39 million Euros, in 2016, even though it had posted a profit of 9 million Euros, after the first nine months.
     The receiver of "Sadalbari" is "General Mir Consult" SPRL, and the first Creditors' Meeting will be held on June 5th.
     Aside from local authorities and energy and telecom providers, creditors of "Sadalbari" include Banca Transilvania, International Investment Bank, as well as "Stareal Limited", the offshore in favor of which the company has pledged its majority stake in "Romcab"
     "Romcab" is also among the creditors of "Sadalbari".
     The insolvency of "Romcab" came as a shock on the stock market, as the official reports of the company were showing that it was going to resolve its default incidents that had occurred last autumn.
     Over that time, Zoltan Prosszer, the current president of "Romcab" and "Sadalbari" have conducted a series of operations, that have not been reported to the Bucharest Stock Exchange.
     On January 27th, Zoltan Prosszer assigned to Roxana Târcă (the representative of the investor relations department of Romcab) 35 of the 45 shares owned in "Sadalbari". This increased Roxana Târcă's stake in "Sadalbari" to 46.7%, while Zoltan Prosszer was only left with 9.35%. The "Sadalbari" shareholder structure includes Rodica Dochițoiu (with 37.38%) and Amberyce Limited (with 6.54%), according to data from the Official Gazette. Later, the company reported to the BSE that "Motoplus Paneuro"- a company controlled by Florin Dorin Costea, alleged brother to Zoltan Prosszer - reached a holding of 91.8% in "Sadalbari", while Prosszer was left with a minuscule stake.
     Another move that arose suspicions occurred right before "Romcab" filed for insolvency.
     The majority stake of 69.02% of "Romcab", owned by "Sadalbari", was pawned to "Stareal Limited" din Cipru, on February 6th, 2017, four days prior to the cable maker of Târgu Mureș filing for insolvency, according to the Electronic archive of Security Interests in Movable Property.
     Zoltan Prosszer recently was appointed as special administrator of the company, in the General Shareholder Meeting, which also set a remuneration of 3,000 Euros net /month
     The appointment came as the receiver of "Romcab", RTZ & Partners SPRL, had denied the request for additions to the agenda of the shareholder meeting filed by a group of shareholders, invoking the provisions of the law of insolvency. The shareholders in question wanted the approval of a liability lawsuit against CEO Zoltan Prosszer, for damages caused to the company, by violating his duties to the company.
     The Financial Oversight Authority, (ASF) fined the "Romcab" CEO 7,000 lei, for not responding or not responding on time to ASF requests.
     Trading in "Romcab" stock was suspended on February 17th, upon the request of the Financial Oversight Authority (ASF), which asked the company for a detailed report concerning the factors which led to the change of the financial situation between September 30, 2016 and February 16, 2017. That report has not yet been published. 
 

 
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Aceeasi sectiune (English Section)
AT THE INVESTIGATIVE COMMISSION OF THE ACTIVITY OF THE ANRE
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Actualitate - vezi toate știrile mai jos.
Politică, 08:24
UPDATE
     * ACTUALIZARE 14:54
     Consiliul Suprem de Apărare a Țării (CSAT) a aprobat, astăzi, participarea țării noastre la inițiativa Uniunii Europene în domeniul apărării, potrivit unui comunicat de presă al Administrației Prezidențiale.
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     ---------
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DE LA ÎNCEPUTUL ACESTUI AN,
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English Section
16.10.2017
EXCLUSIVE
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     * (Interview with His Excellency, Mr. Hamid Moayyer, ambassador of the Republic of Iran in Romania)
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12.10.2017
EARTHLY LAWS, IGNORED ON THE BSE PLANET
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12.10.2017
AT THE INVESTIGATIVE COMMISSION OF THE ACTIVITY OF THE ANRE
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       Niculae Havrileț, the president of the National Authority for Regulation in the Energy Sector (ANRE), together with other members of the Regulatory Committee of the ANRE, will arrive before the Commission for the Investigation of the activity of the ANRE.  details
11.10.2017
RADU CRĂCIUN, APAPR, ABOUT THE INVESTMENT OF PRIVATE PENSION FUNDS IN DIGI, A COMPANY WHICH HAS CRIMINAL ISSUES:
     Mandatory private pension funds which have invested in Digi Communications, the parent company of RCS&RDS, which was indicted on money laundering and offering bribes, have taken this operating risk into account, by offering a lower price in the IPO, Radu Crăciun, member on the Board of Directors of the Romanian Association of Privately Managed Pensions (APAPR).  details
09.10.2017
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     The subject of the debate can be synthesized in four questions:
     1. Would it be recommendable for the EU Non-Eurozone States to adopt Euro currency?(...)
     -------------
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05.10.2017
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03.10.2017
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     * Poland, upgraded to the emerging market status
     * Mongolia and Nigeria, removed from the watchlists
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02.10.2017
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29.09.2017
LUCIAN ANGHEL:
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28.09.2017
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27.09.2017
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26.09.2017
THE CONFERENCE "THE FUTURE OF THE ROMANIAN CAPITAL MARKET" - THE 6TH EDITION/MIRCEA URSACHE, ASF:
     * Cappon, Prodan and Sobolewski yesterday had their interviews for the position of CEO of the BSE
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25.09.2017
FINANCE MINISTRY LAYS GROUNDWORK FOR BUYING GOVERNMENT BONDS DIRECTLY THROUGH THE TREASURY
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21.09.2017
ANDRE CAPPON, CBM GROUP:
     Andre Cappon, the president of the CBM, Inc. group of New York, comes with a different perspective on the future development of the Bucharest Stock Exchange than that of the current management of the market operator. In his opinion it would be better for the BSE to remain one of the best frontier markets than joining the emerging market and then be demoted, as he told us in an interview.  details
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