* Vosganian: "It would be unlikely that Astra Asigurări would refuse to pay the compensation"
Starting in 2011, Oltchim has concluded with Astra Asigurări, an insurance policy of 10 million Euros against defective management of the plant, an amount which the managers of the plant are now requesting from the receivers of the plant. On April 30, the receivers sent their request to the insurance company, showing that the conditions of the insurance policy have been met (flawed management which caused the company to incur losses).
Flawed management is one of the reasons which have led to insolvency, the receivers of the plant stated in a report (Rominsolv and BDO Business Restructuring).
Contacted by phone, Constantin Roibu, the former general manager of the plant of Vâlcea, said: "Flawed management is not the real cause of the insolvency of Oltchim. The report on the causes of insolvency was only drawn up so a scapegoat can be found. So in order to collect the insurance policy, the receivers need to prove in court that the management was flawed and that it has caused financial losses to Oltchim".
When asked why he felt the need to conclude such an insurance policy, Mr. Roibu told us that this kind of policies is common in major companies.
Yesterday, Varujan Vosganian, the minister of the Economy, said that Oltchim is current with the payment of the insurance premiums, of 3,000 Euros per month, as the insurance policy concluded with Astra is renewed annually.
He said that the insurance policy was found in the records of Oltchim one month ago, and that it would be unseemly that Astra Asigurări refused to pay the insurance policy claiming that the company had a competent management.
Mr. Vosganian said: "It would be unseemly for Astra to tell us that the conditions aren't met for the ten million Euros to be paid. We have the report
