Competition Council officials warn that CFR Marfa may enter insolvency. Competition Council President Bogdan Chiriţoiu (photo) said CFR Marfa is in a special situation. “A radical restructuring of CFR Marfa in the next period is needed. CFR Marfa is a special case, about which the European Commission believes it is not viable. The situation of CFR Marfa resembles to the one of Oltchim and of the Hunedoara Energy Complex. CFR Marfa is in danger to follow the Oltchim path,” Bogdan Chiriţoiu said during a seminar in Sinaia.
The Competition Council official also said that CFR Marfa benefited in 2013 from a conversion of debt in view of privatization. “”We are less advanced on erasing the CFR Marfa debt. We will notify the European Commission on the conversion of debt into shares,” Chiriţoiu said.