The Astra Romana Ploiesti refinery recently entered insolvency at the request of shareholders, reports local Mediafax.

The shareholders approved on June 2, during the extraordinary general meeting, the start of insolvency proceedings.

The Prahova Court appointed Via Insolv SPRL as judicial administrator. The first hearing was set for October 10, 2014.

Astra Romana ended 2013 with losses of RON 3.55 million (EUR 804,000), compared to a negative result of RON 4.85 million (over EUR 1 million) recorded the year before.

Irina Popescu, irina.popescu@romania-insider.com