Ultex gets reorganization plan

Newsroom 20/04/2011 | 14:00

Casa de Insolventa Transilvania (CITR), legal administrator of cooking oil producer Ultex Tandarei approved the reorganization plan of the company.

“The plan covers a period of three years and it stipulated the production to be continued the jobs to be maintained. Company’s reorganization means, in addition to the recovery of a significant part of the company’ debt, to preserve more than 190 direct jobs, but also other ancillary jobs,” said Basil Godinca -Herlea, Senior Partner at CITR.

Thus, in terms of debt, the reorganization plan provided the payment of secured claims in full over the three years for BCR – RON 25.2 million, BRD – RON 11.4 million, Raiffeisen Bank – RON 11.1 million and ANAF – RON 4.6 million.