About 5 million lei will be allocated from the municipal budget of Chisinau for clearing the debts to creditors of the bankrupt municipal enterprise SA “Autocomtrans”. Such a decision was taken in the October 3 meeting of the Chisinau Municipal Council (CMC), IPN reports.

Veaceslav Bulat, municipal councilor on behalf of the European People’s Party of Moldova, will represent the CMC at the general assembly of the enterprise’s creditors. The debt settling transaction is to be later approved by court and to be countersigned by the acting mayor general of Chisinau.

Tudor Tofan, senior specialist of the Legal Assistance Division, said there are two possible developments in the case of the municipal enterprise. The first is the restructuring of the enterprise by identifying an economic entity that would propose a business plan and the auctioning of the property of the enterprise and its liquidation.

SA “Autocomtrans” was founded in 1996. The CMC is a majority shareholder with a holding of 58.25%.