The juridical action through which Adevarul Hoding seeks to declare insolvency was postponed for November 9th . One of the resons for the delay was that Romanian Commercial Bank joined to the companies that ask the insolvency of the media trust bought by Cristi Burci from Dinu Patriciu.
BCR asks Adevarul Holding’s insolvency for a debt rising to almost Euro 7M. Besides BCR, there’s another company – Elida Media, that took over more of Adevarul’s debts - that asks media trust’s insolvency.
Adevarul Holding – Euro 70M debt towards the company owned by one of Burci’s former collaborators
New information appeared on the level of Adevarul’s debts during the insolvency process that had a term on November 9th. According to data obtained by Paginademedia.ro, the biggest creditor of the media trust is Elida Media, owned by a former collaborator of Cristi Burci, that took over Adevarul Holding from Dinu Patriciu.
Elida Media is owned by RAzvan Enache (95%) and Dragos Dumitru(5%). Razvan Enache worked together with Cristi Burci, as he was programs director at Prima TV during the period when the TV station was owned by Burci.
The debt due by Adevarul Holding to Elida Media, according to thepapers submitted to the Court, raises to RON 305M (@ Euro 68M).
Elida Media took over debts from more companies controlled by Dinu Patriciu. The sum represents debts that Patriciu’s companies granted, in time, to Adevarul Holding. The companies elide took over the debts from are East European Media, DP Holding,Mercadia and Finite Assets, all controlled by Dinu Patriciu.
Besides Elida Media and BCR – the most important creditors of Adevarul Holding – in the same case there are also involved Adevarul Holding’s employees and hundreds of small contractors.
The instance is to take a decision in this cause, with the insolvency most likely to be pronounced during the week that follows.
Adevarul Holding was taken over by Cristi Burci from Dinu Patriciu in October and, now, the transaction waits for the approval of Romanian Competition Council .