RADET asks for insolvency

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The Autonomous Administration for Thermal Energy Distribution (RADET) has asked for insolvency on Wednesday, the request being included in the draft resolution to mandate the RADET board to take the necessary steps to continue operations, document approved on Wednesday by the General Council of Bucharest (CGMB).

The CGMB has approved on Wednesday the draft resolution mandating the RADET Bucharest to take all the necessary technical, legal and economic steps needed to ensure the Administration’s business continuity to guarantee the supply of heat for households and institutions.

The project includes an amendment to RADET’s entry in insolvency, consequently the institution will address a court.

RADET has debts to Electrocentrale Bucharest worth more than RON 3.9 billion (approx. EUR 867 million).

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