CSA files for Metropol's bankruptcy

Metropol has come closer to liquidation after the Commission for Insurance Surveillance (CSA), together with other six creditors, filed for the company’s bankruptcy in court in late April. The representatives of the new judicial administrator of the company, Intermed Star Ro SRL, even state that the declaration of the company’s bankruptcy by one of the Commercial Courts within the Bucharest Court of Law is now a mere formality.  “We are now waiting for the decision on the company’s bankruptcy to be drawn up and issued and we think the respective decision is likely to be transmitted to us in about a week. According to a certificate presenting the decision until a written verdict is conveyed, which the Court of Law sent to us, the decision about the company going bankrupt has already been made,” said Dan Negreanu, who works with Intermed Star Ro. This company is the new judicial administrator of Metropol, and it took over this task after the take-over attempt by Dunarea Leasing failed. Intermed is now making the inventory and appraising the company’s assets, as well as drawing up a list of its lenders: the state budget, utility suppliers, the company’s insured people or employees. At this moment, there are 2,500 insured people whose claims have not been settled yet, according to Dan Negreanu. Even though the company’s road to bankruptcy seems irreversible, Negreanu also says that in parallel, talks are held with a foreign investor that might approach Metropol. ZF