The Bucharest Tribunal will examine on September 8 the new insolvency petition filed by the Bucharest Transport Company

The Bucharest Tribunal will examine on September 8, at the first hearing, the new petition filed by the Bucharest Transport Company (STB) to open insolvency proceedings. The request comes after the court rejected the initial petition on August 18 because the case file did not contain all the required documents.

STB submitted a new request on August 25. General Mayor Ciprian Ciucu said the documentation had been filed in nine binders and checked before being sent to the court.

The new case lists ten companies as creditors, including Romprest, Tinmar Energy, Reloc and Electroputere VFU Pașcani. Other companies mentioned include BMF Grup Soluții Integrate, Ramco and Cleaning Servexpert.

STB has 9,504 employees, and its efficiency plan includes layoffs. Up to 200 employees could leave voluntarily, with six severance payments. The Bucharest City Hall leadership says the measure is necessary to stabilize the company’s finances, as its operating costs, debts and penalties are placing significant pressure on the municipality’s budget.}],