Insolvent Termocom opposes mayoral takeover

Chisinau's heat supplier Termocom said in a statement today it will appeal the decision of the Economic Appellate Court which found the utility insolvent and ordered its reorganization, Info-Prim Neo reports. Under the decision, the administration of the Chisinau mayor is to take control of the utility, together with a 1 billion lei debt, while former director Dionisie Antocel will remain in charge as caretaker. The appeal is to be filed with the Supreme Court of Justice, the last resort. Termocom has been undergoing insolvency proceedings since 2002.