Principal Company, producer of Matache Macelaru and Salonta charcuterie brands, is out of insolvency after a ruling by the Buzau Court of Law in favour of the charcuterie producer.
However, the creditors have ten days to file an appeal against the court's ruling.
"Signus (the Principal Company shareholder) sought to take on the debt owed to the creditors, and was able to do so in the case of some of them. The court of law closed the insolvency proceedings despite opposition from one of the nine creditors that asked for opening of insolvency proceedings. However, the creditors can appeal this ruling," said Razvan Zavaleanu, managing partner of professional reorganisation and liquidation company RTZ & Partners, adding that Principal Company had debts to over 200 companies.
At the beginning of March, the Buzau court decided to open insolvency proceedings in the case of Matache Macelaru and Salonta, as a result of debt accumulated with five creditors, who were the first to ask for the company's insolvency.
Principal Company, producer of Matache Macelaru and Salonta charcuterie brands, is out of insolvency after a ruling by the Buzau Court of Law in favour of the charcuterie producer.
However, the creditors have ten days to file an appeal against the court's ruling.
"Signus (the Principal Company shareholder) sought to take on the debt owed to the creditors, and was able to do so in the case of some of them. The court of law closed the insolvency proceedings despite opposition from one of the nine creditors that asked for opening of insolvency proceedings. However, the creditors can appeal this ruling," said Razvan Zavaleanu, managing partner of professional reorganisation and liquidation company RTZ & Partners, adding that Principal Company had debts to over 200 companies.
At the beginning of March, the Buzau court decided to open
