Bucharest - 05 decembrie 2011
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Popovici Niţu & Asociaţii represented Fondul Proprietatea in numerous lawsuits, aiming at cancelling the creation of the two energy giants, Electra and Hidroenergetica, pursuant to the attempted reorganization of the energy and coal State majority-owned producers.
Electra would have been resulted from the merger of Nuclearelectrica SA, Complexul Energetic Turceni SA, Complexul Energetic Rovinari SA and Complexul Energetic Craiova SA, part of Hidroelectrica and Societatea Nationala a Lignitului Oltenia. Hidroenergetica would have incorporated part of the Hidroelectrica’s assets, Hidroserv Bistriţa SA, Hidroserv Slatina SA, Hidroserv Porţile de Fier SA, Hidroserv Curtea de Argeş SA, Hidroserv Sebeş SA, Hidroserv Haţeg SA, Hidroserv Cluj SA and the power plants Electrocentrale Deva SA and Electrocentrale Bucureşti SA.
During the last 12 months, Fondul Proprietatea, represented by Popovici Niţu & Asociaţii, obtained four favorable preliminary injunctions against Hidroelectrica SA, Nuclearelectrica SA, Complexul Energetic Turceni SA and Complexul Energetic Rovinari SA, thus suspending the shareholders’ decisions whereby the creation of Electra and Hidroenergetica has been approved.
On November 28, 2011, the Court of Appeal of Craiova irrevocably admitted the final appeal filed by Fondul Proprietatea, cancelling the reorganization decision of the shareholders of Complexul Energetic Craiova.
The multi-disciplinary 5-lawyer team was led by Ciprian Donţu (Litigation Partner), Alexandru Ambrozie (Corporate & Tax Partner) and Mihaela Pohaci (Tax Partner).
For additional information about Popovici Niţu & Asociaţii, please visit
http://www.pnpartners.ro/
Cuvinte cheie:
Popovici Niţu & Asociaţii Fondul Proprietatea irrevocable judgment energy