STB, first reaction after entering insolvency

The general director of the Bucharest Transport Company, Andrei Dinculescu-Bighea, sent his first message after the Bucharest Tribunal admitted, on Tuesday, September 8, the company’s request to enter insolvency. He maintains that the procedure does not mean the end of STB, but may represent an opportunity for the company’s recovery.

Dinculescu-Bighea stated that a difficult period lies ahead, during which firm decisions, discipline, transparency, and real changes will be necessary. The general director says that the main objective is to save STB, protect its employees, and maintain Bucharest’s public transport under normal conditions.

In the message published after the court’s decision, he stated that insolvency could help correct the problems accumulated by the company over the years and build a more efficient and stable structure.

The Bucharest Tribunal appointed the consortium formed by EURO INSOL SPRL, TURMAC INSOLVENCY SPRL, and CERES INSOLV SPRL as provisional judicial administrator. STB’s management did not provide a detailed timetable for the measures to follow, but the general director stated that he assumes responsibility for the company’s recovery and will not abandon its employees.