“As a result of the debtor paying the amount in the reorganization plan in full, the court-appointed trustee files this report to close the reorganization procedure of debtor Elit SRL and requests [the court] to take note of the completion of the reorganization plan (…) and rule to close the insolvency procedure, considering the debtor fulfilled all the obligations in the initial reorganization plan with subsequent modifications,” the report in the Bulletin of Insolvency Proceedings (BPI) reads.
All the meat processor needs to do now is to get the approval of the court to which its case was assigned to exit the reorganization procedure.
Elit Cugir filed for insolvency in the second half of 2014, which was also the only year it ended in the red. Elit posted EUR75 million revenue and almost EUR8 million profit last year.
(English version by Loredana Fratila-Cristescu)