CFR Cluj, officially in insolvency!

CFR Cluj has officially entered insolvency! The Cluj Tribunal admitted on Thursday, August 20, the request made by the club from Gruia and ordered the opening of the insolvency procedure.

The court appointed RTZ&Partners SPRL as the provisional judicial administrator. They will manage the procedure until its possible confirmation or replacement and will receive a provisional fee of 5,000 lei per month, plus VAT.

Thus, the insolvency process will be managed by Răzvan Zăvăleanu's firm, which also guided Dinamo through this turbulent period.

"Admits the request to open the insolvency procedure, made by the debtor FOTBAL CLUB CFR 1907 CLUJ SA, through its legal representative Băgăcean Vasile-Marian, as general director. Orders the opening of the general insolvency procedure against the debtor FOTBAL CLUB CFR 1907 CLUJ SA. Appoints RTZ&Partners SPRL as the provisional judicial administrator, who will perform the duties provided by art. 58 of Law no. 85/2014, managing this insolvency procedure until its possible confirmation or change, under the conditions of Law no. 85/2014.

Establishes in favor of the provisional judicial administrator a provisional monthly fee of 5,000 lei plus VAT. Orders the appointment of a special administrator to represent the interests of the shareholders. Acknowledges the debtor's intention to submit a reorganization plan. Establishes the obligation of the provisional judicial administrator to submit a detailed report within 40 days from the opening of the procedure regarding the causes and circumstances that led to the state of insolvency, mentioning any indications or preliminary elements regarding the persons to whom it may be attributable and regarding the existence of the premises for holding them accountable, under the provisions of articles 169-173 of Law no. 85/2014, as well as regarding the real possibility of reorganizing the debtor's activity or the reasons that do not allow reorganization, according to art. 58 letter b) of Law no. 85/2014", is stated in the solution of the Cluj Specialized Tribunal.