Romanian cable producer Romcab Targu Mures (MCAB), currently under judicial reorganization, announced that Valtecia, the company that asked for its bankruptcy in court, obtained an eviction order for an area of 25,000 sqm - representing offices and certain production spaces leased to Romcab.

In April, when Valtecia filled the bankruptcy request, Romcab said that it has no idea what the request was about but admitted Valtecia had previously filed other bankruptcy requests - either rejected by the court or dropped by the firm itself.

Now Romcab argues that the investments it carried during 2012-2016 on the premises rented from Valtecia cover the rent for the period plus another 51 months and says that the court will rule on its compensation request on May 14.

"As a consequence [of the eviction order], Romcab can use only a surface of 17,411 sqm, according to the final, executory and irrevocable sentence pronounced by the Court of Appeal," Ziarul Financiar reported. This is despite the fact that, the company argues, "based on the contract, Romcab has the right to use the entire surface."

This situation affects Romcab's production capacity, the relationship with all Romcab stakeholders, respectively employees, customers, suppliers, creditors, state authorities, the company explained in a statement to investors.

andrei@romania-insider.com

(Photo source: the company)