Astra Asigurari disputes the EUR 600 M debts to banks

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Astra Asigurari insurance company, in liquidation, filed Friday, May 27, appeals against the claims of three banks, included in the preliminary table.

Raiffeisen Bank SA requested for entry in the preliminary table of a claim of RON 2.3 billion, making it the largest creditor of Astra Asigurari. It’s about a portfolio of insurance policies concluded by individuals credited by bank, policies that have been transferred to the bank.

Most of the policies represent bank’s claims under suspensive condition – the condition of the risk insured occurrence.

In their turn, BCR has a debt of RON 154 million, while Credit Europe – RON 14 million. The court terms have been set by the court on September 12 to challenge Credit Europe and Raiffeisen claims, while the appeal date to BCR debt was set for October 24.

Debts preliminary table indicates a total of 1,223 creditors demanding RON 4.56 billion from the bankrupt insurer.

Romanian Financial Supervisory Authority (ASF) decided on September 8 last year the bankruptcy of Astra Asigurari, after the insurer failed to increase the capital by RON 425 million.

During September 1, 2015 – April 30, 2016, 4,567 claim files were approved and 3,537 claims for reimbursement were received, worth EUR 13.82 million.

2,242 requests have been paid so far, with a total of EUR 9.595 million from the Green Card Common Fund.

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