On January 25, 2016, the Romanian court handling the bankruptcy proceeding of Astra SA extended the deadline to file court claims against Astra SA to 17 February 2016. The initial deadline for filing was 18 January 2016. Creditors of Astra SA may wish to avail themselves of this extended deadline to file such claims in order to recover some or part of the amounts owed to them by Astra SA in the bankruptcy/liquidation proceedings.
This deadline extension does not impact the deadline for Astra SA's insurance creditors to file claims with the Romanian Insurance Guarantee Fund. The Romanian Insurance Guarantee Fund acts as a safety net for insurance creditors, and may indemnify such insurance creditors up to a maximum of approx. 100,000 EUR per applicant.
Astra was declared bankrupt by a Bucharest Tribunal judgment dated December 3, 2015. Click here to see our previous article on Astra SA being declared insolvent.
Here is the link to the previous article: http://www.cms-lawnow.com/ealerts/2015/08/romanian-insurance-and-reinsurance-undertaking-astra-sa-deemed-insolvent-by-the-fsa?cc_lang=en