OREANDA-NEWS. March 05, 2012. The minister of economy has said this as commenting on statements by Mayor Dorin Chirtoaca that creditors of Termocom together with the ministry of economy refuse accepting 5,4% of the debts of the heat provider required to suspend the insolvency procedure. This can make Termocom a bankrupt.

As Valeriu Lazar says, Termocom has already concidered a bankrupt since 2000. As the ministry of economy lent nothing to Termocom, it has no right to dictate to directors of the ministry’s subordinate enterprises, Heating Station 1 and Hating Station 2, how to treat their debtor, Termocom. It’s up to them to decided what to do since the directors are personally responsible for the management of their companies, Valeriu Lazar has stated. According to him, one of the main conditions for the insolvency procedure to be suspended was to prevent new debts.

This is the reason why 63 mln.leis (5,4% of the total sum of the debt) can not be considered enough: Termocom had a debt at 1 bln. leis in 2000, whereas now its debt amounts to 2,5 bln. leis. Valeriu Lazar thinks it impossible for Termocom to disburse 63 mln. leis and be written off 1 bln. leis. What to do with 1,5 bln. of new debts then? The government made a decision to restructure the centralized heating system of Chisinau corporately, institutionally and financially by merging Termocom and Chisinau’s two heating stations.

The ministry has assumed the city hall has another point of view on the situation, but the ministry is authorized to restructure the company. Valeriu Lazar has invited Dorin Chirtoaca to meet to discuss all differences.