The Târgovişte Special Steel Plant (COS) went bankrupt after 8 years of insolvency. The Dâmboviţa Court rejected the reorganization plan proposed by the creditor company Alphard Financial, which holds 51 percent of COS’s receivables.
In June, the Assembly of Creditors voted to complete the reorganization plan in order to urgently start the procedure for auctioning the functional assets of COS. According to the report, the total value of debts is RON 524 million.
COS Targoviste announced that it will appeal against the sentence.
