BDF bankruptcy: to be or not to be

The situation of Banca Dacia Felix (BDF) is still confuse, as the latest court rulings contradict each other. On one hand, the Court of Appeals on Wednesday dismissed the appeal filed by Israeli group Robinson, BDF’s main shareholder, on suspending BDF bankruptcy.

On the other hand, the Cluj Court of Law on Thursday postponed analysing Robinson’s offer for settling BDF’s debts to CEC (Romanian Savings Bank) and NBR for April 26.

Since the Court of Appeals dismissed the action, syndic judge Ioan Georgiu has already appointed the liquidator of the bank, that is PricewaterhouseCoopers, which is also in charge of the liquidation of Banca Internationala a Religiilor (International Religions Bank) and Banca Albina, in co-operation with Societatea Recuperare si Reconversie Active (Assets Recovery and Reconversion Company).