Hunedoara Energy Complex voluntarily filed for insolvency. GM was removed from office

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Board of Directors of Hunedoara Energy Complex (CEH) decided late on Monday company’s insolvency. Voluntarily insolvency application has been already submitted on Tuesday. A file with 18 creditors’ requests for CEH insolvency was submitted at Hunedoara Court. The next deadline is January 7, 2016.

CEH has, since its establishment in 2011, big financial problems.

Energy minister Victor Grigorescu was yesterday morning in a working visit at CEH warning that the financial situation of CEH is disastrous and it could even get to company’s bankruptcy. This would create huge social problem in the Jiu Valley.

Meanwhile, Emil Floruț, appointed this September, was removed from the general manager position, being replaced by the current manager of CEH Mining Department, Viorel Stancu.

The former GM is criticized for not having sent to board’s members the activity report for Q3, not drawing up the company’s own management plan established within 90 days, too much unjustified absence from the company’s headquarters and a poor relationship with the unions.

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