CNH, which is Romania’s largest debtor with outstanding debts of over EUR1 billion, is itself undergoing liquidation proceedings.
“CNH has to recover total receivables worth RON84.79 million from CE Hunedoara, of which RON14 million represents debt currently under litigation, while RON70.7 million is a due receivable,” the company’s liquidator Expert Insolventa said in a statement Monday.
State-owned CE Hunedoara was founded in 2012 following the merger of Deva and Paroseni coal-fired power plants. With an installed capacity of 1,435 megawatts, the energy holding covers around 5% of Romania’s electricity production.