OREANDA-NEWS. March 09, 2012. The Moldovagaz gas-providing enterprise today appealed at the Supreme Court of Justice (CSJ) against a decision by the Economic Court of Appeal on the foreclosure of a 5.25-million-dollar debt from the gas provider for the benefit of an US company, Fera Management LLC, according to a press release by Moldovagaz.

The Moldovagaz company appealed at the CSJ against a decision by the Economic Court of Appeal, in order to head off a foreclosure of proceeds from its accounts. Moldovagaz also asked for an urgent intervention of the Moldovan central state power and law-enforcement bodies, in order to defend the country's energy security.

"A company registered in the USA intends to collect 5.247 million dollars on the basis of a judicial verdict that was abusively and groundlessly issued by the Economic Court of Appeal," Moldovagaz said.

The company noted that the debts of the American company Fera Management to the Completgaz Ltd company, in process of insolvency, were validated on 23 February 2012. In an appeal on the validation of the outstanding debts, the US company also asked to call Moldovagaz to subsidiary account by collecting 5.247 million dollars for the benefit of the Fera Management company.

Only a week after this application had been submitted, the Economic Court of Appeal accepted the application of the American company and ruled to call Moldovagaz to subsidiary account via the collection of the sum claimed by Fera Management from the gas provider.

Although when giving its final ruling, the Economic Court of Appeal did not mention the immediate character of the decision's enforcement, on the next day, law-enforcer Maxim Romaliiski instructed the opening of an enforcement file. At the same time, the enforcer instructed that debtor Moldovagaz and creditor, company Fera Management, come to the headquarters of the law-enforcer for conciliation.

The spokeswoman of Moldovagaz comopany, Doina Deliu, has said that, although Completgaz had entered insolvency in 2008, it is unknown whether this company has a creditor registered in the USA.