City Councilmen displeased with state of Termocom to be managed by local authorities

City councillors are not pleased with the present financial state of the heat supplier “Termocom” and say the local authorities will accept to reassume administration of the company only when it becomes clear how the accounts payable have doubled in the last six years. Councillor of “Moldova Noastra” Alliance, Oleg Cernei, told Info-Prim Neo that July is the deadline for reorganisation, set up for “Termocom” by the Economic Court, the enterprise being within the time period under the Creditors Council management. Under the law on insolvency, the enterprise will be subordinated starting July to the Chisinau City Council (CCC), which holds 70% of shares, together with “all consequences of the last few years’ activity”. Although a municipal commission has recently checked the enterprise’s financial state, Cernei says that the former CCC councilmen from opposition could access only the general information. The only relevant general information was that the City Council took over the financial administration of Telecom with liabilities estimated at 750 mln lei, and now the enterprise will be financially administered by the municipality with 1.8 billion lei. “We won’t accept Termocom until after we have a concrete financial analysis of the way the enterprise has been administered, including the assets which were alienated”, Cernei mentioned. He stated that lots of assets have been alienated in the last few years, including by deliberately lowering their buy price, claiming also that a lot of money was laundered through this enterprise. Oleg Cernei qualified the economic-financial state of the heat supplier as deplorable. This bankrupt enterprise which will start operating under CCC represents an enormous burden for the municipal budget estimated at 1.3 billion lei, which is less then Termocom’s accrued debts. The city councillor is sure that, being upset with losing the elections in Chisinau, the Communist Party will blackmail through this enterprise the new administration of the Chisinau municipality, jeopardising thus the preparation and start of the heating season. The Termocom administrator, Dionisie Antocel, was unreachable to comment on the city councillor’s opinion about the enterprise’s situation.