EnglishRVA Insolvency Specialists and Casa de Insolventa Transilvania, the liquidators of Brasov-based bearings manufacturer Rulmentul, have called a shareholders meeting for November 5th to appoint an administrator. The liquidators will present a report on the status of the liquidation procedure and appoint an administrator. The shareholders affected by the decision will be identified by November 21st. The meeting can be attended by shareholders registered as such by October 22nd, 2007.
According to an evaluation dated February 28th, the value of Rulmentul"s frozen assets was 158.71 million RON, whereas debts mounted to 245.63 million RON. On June 28th, Rulmentul shareholders decided to liquidate the company. Early this month, Rulmentul was declared bankrupt by the Brasov County Court, following a suit filed by creditors Dalpinia Trading and prointemed - Pitesti. Dalpinia alone has an outstanding receivable of over 4 million EUR. At the end of May, Rulmentul laid off all employees and terminated production. AVAS is the majority shareholder with 50.89%.
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