Creditors want to further control SA Termocom, Dorin Chirtoaca

“It is an abusive act on the part of the creditors of SA Termocom. They want to further control the company,” Mayor General of Chisinau Dorin Chirtoaca said, commenting on the creditors’ request to receive a larger percentage of the debts from the heat supplier, Info-Prim Neo reports. In a news conference on Wednesday, the mayor said he will insist on the conditions set in 2000. “The conditions were met and we consider that the Creditors Council’s refusal to end the insolvency procedure is unjustified. This way, the process of reorganizing the thermo-energy system is sabotaged. It seems that those who controlled Termocom for 20 years want to control it in continuation,” said Chirtoaca. According to the mayor, during 12 years the Creditors Council said nothing, but now raises unjustified objections. The Chisinau administration will ask the court to order that the plan procedure should be completed so that the company could be reorganized. It will also demand replacing administrator Laura Turcan. “We will go to court, but I don’t think we will achieve results as he case is examined by Mister Kolenko (Aureliu Kolenko e.n.) of the Economic Court of Appeals, who tried all the cases concerning bandit attacks. But we will fight till the end,” said Dorin Chirtoaca. He stated that if the insolvency procedure is not respected, the people may not receive heat on time in the 2012-2013 heating season and the company may go bankrupt or be transferred under the administration of groups of interests. SA Termocom has debts of 1.5 billion lei to its creditors. Under the plan procedure approved in 2000, the heat supplier was to repay 5.4% of this sum, i.e. about 63 million lei.