The company said in a statement that, at the request of creditor Piraeus Bank Romania, the building located in Bucharest, on Unirii Blvd, no. 72, was foreclosed.
Noting the company’s state of insolvency, the Board summoned the General Extraordinary Meeting of Shareholders and will propose for approval a request to open a simplified insolvency procedure.
Petrolimportexport was established in 1948, as an anonymous joint-stock company, and on January 1, 1991, it became a joint-stock company for the import and export of oil products. The company was privatized in 2000, with a 76.7% stake being held by Laird Resources LTD.