Radet goes bankrupt, Bucharest Court of Appeal says in final ruling

Bucharest Court of Appeal has decided in a final ruling on Monday to approve the bankruptcy of the Autonomous Administration for Thermal Energy Distribution (RADET). This ruling has been initially given in a first court by the Bucharest Tribunal.

However, shortly before the ruling’s being pronounced, Bucharest mayor Gabriela Firea announced that, regardless of the court’s ruling, Bucharesters will still have hot water and heating, explaining that RADET’s disappearance doesn’t mean there will be no district heating system in the Capital.

She reminded that RADET’s activity will be taken over by the Termoenergetica Municipal Company.

In October 2016, Bucharest Tribunal admitted the Autonomous Administration for Thermal Energy Distribution (RADET) request for insolvency.