Infinexa, a Romanian entrepreneurial company specializing in the restructuring and financing of distressed businesses, managing assets worth over EUR 155 million, announces that in 2024, Hidroconstructia, a company undergoing insolvency proceedings, distributed over EUR 16 million to its creditors. Of this amount, EUR 10.7 million came from asset sales, while EUR 5.3 million was generated through ongoing operations. ”In insolvency proceedings, such payments are typically made when companies are in reorganization or bankruptcy. Thanks to the successful mediation of negotiations between the debtor company, the investor shareholder, and the financing banks, we managed to propose measures to protect secured claims and distribute funds collected from ongoing contracts, which had been pledged as collateral by the banks. As a result, we distributed significant amounts to creditors while Hidroconstructia was still in its observation period. Moreover, the company closed 2024 with a profit, securing a solid foundation for restructuring,” stated Adrian Lotrean, founder of INFINEXA and judicial administrator of Hidroconstructia S.A. Preliminary financial data indicate that Hidroconstructia recorded a profit of over EUR 3.1 million in 2024, marking the first time in six years that the company has ended the financial year with a profit. The last profitable year was 2019, when the company reported a net profit of EUR 700,000. In 2024, Hidroconstructia’s creditors’ assembly approved the sale of non-essential assets worth EUR 65 million to reduce operating costs and enable debt repayments. The assets put up for sale include real estate properties, equipment, and various shareholdings in other companies. These assets are being liquidated through auction procedures organized by the judicial administrator, in compliance with legal requirements. During the most recent auction session, held between February 17 and 21, 2025, assets worth over €6.5 million were put up for sale. Among them, certain assets with a market value of EUR 1.8 million were successfully sold for over EUR 3 million. Hidroconstructia S.A., Romania’s largest contractor in the hydro-energy sector, voluntarily filed for insolvency on January 19, 2022, due to debts exceeding RON 500 million. The company’s judicial administration was entrusted to a consortium formed by Infinexa Restructuring and Musat & Asociatii Restructuring Insolvency SPRL. Currently, the company remains in its observation period, ahead of the proposal of a reorganization plan. Founded in 1950, Hidroconstructia S.A. is a privately owned Romanian company, recognized as the primary builder of the country’s major hydroelectric projects. The company is currently involved in hydro-energy developments such as Livezeni – Bumbesti, Rastolita, and Buzau – Siriu – Surduc, as well as other infrastructure projects. (Photo:https://hc.ro/)
Update: Bucharest Mayor Nicusor Dan won the Romanian presidential election on May 18, according to the official vote count. With 98.5% of the ballots counted, Nicusor Dan had 54.17% of the votes, 900,000 more than his opponent, nationalist George Simion. A record turnout both in the country and abroad helped Dan come back from 1.88 million […]
Romanians showed up in record numbers to vote in the second round of the presidential elections, both in the country and abroad. The exit poll results presented on Sunday evening pointed to a strong lead for Bucharest’s pro-EU mayor Nicusor Dan (54%-46%), but are only relevant for the domestic vote. Both candidates claimed victory in […]
Romanians showed up in large numbers to vote in the second round of the country’s presidential elections, one of the most important democratic tests Romania has seen in the last three decades. At 14:00, exactly halfway through the voting process in the country, over 5.63 million Romanians have cast their votes, compared with 4.52 million […]
Romanians abroad have mobilized massively to vote in the second round of the country’s presidential elections. Update: By Sunday afternoon (15:00 Bucharest time), over 1.2 million Romanians have voted abroad for the country's next president. That's some 220,000 more votes than the overall total in the first round. The countries with the largest turnout are […]
Romanians abroad have mobilized massively to vote in the second round of the country’s presidential elections. The vote in Diaspora started on Friday morning, and by Saturday evening (at 19:00), over 609,000 Romanians had already cast their votes. The turnout is almost 90% higher than the one recorded at the same time in the first […]
It's almost impossible to think about anything not related to elections this weekend but if you should need some distraction, there are options. Happening now is the European Film Festival, screening recent productions from the continent, very varied in theme, tone, and genre. The fest is playing Bucharest, Sfântu Gheorghe and Timișoara until Sunday and […]
