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Romania's Oltchim files for insolvency, reports say

5:23 AM MST | January 24, 2013 | Francinia Protti-Alvarez

Chemical producer Oltchim (Ramnicu Valcea, Romania) filed for insolvency on 23 January 2013, according to reports in Agerpress, one the the country’s news agencies. Varujan Vosganian, Romania's minister of the economy--who earlier presented the insolvency route, together with three other options, to the government and International Monetary Fund (IMF) representatives--has started exploratory talks with creditors, Agerpress reports. The other routes included relaunching Oltchim's privatization and seeking a partial privatization.   The insolvency and...

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