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Agliceru: It is unclear whether or not Hidroserv will undergo insolvency

9 September 2016
Bogdan Tudorache

It is unclear whether Hidroserv, Hidroelectrica’s maintenance unit, will undergo insolvency or not, says Ovidiu Agliceru, chairman of the board of Hidroelectrica, answering a question by, during the conference “Energia în priză”, organized by Bursa newspaper.

Agliceru avoided answering clearly to’s question about a possible conflict of interests in the case of a possible appointment as insolvency manager to Hidroserv of Euro Insol, former administrator of Hidroelectrica during the insolvency that ended this year.

The insolvency company Euro Insol, controlled by Remus Borza, was proposed as manager of Hidroserv, maintenance subsidiary Hidroelectrica, when the company will go under insolvency, according to sources previously quoted by Agerpres.

“Hidorserv’s Board of Directors has full freedom and independence to decide whether Hidroserv becomes insolvent or not, and if it becomes insolvent, the Board has the attribute in proposing an administrator to the judge,” said Agliceru, in response to’s question.

Agliceru said that the future insolvency manager of Hidroserv will not need new revenue sources, as it will benefit from insured contracts worth 500 million lei for the next three and a half years.

He added that Hidorserv tried to get a bank loan in mid-March, based on a letter of comfort from Hidroelectrica, but the bank rejected the file for a loan amounting to 45 million lei, thus putting into question the maintenance company’s solvency.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.

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