Reuters demands insolvency procedure for Realitatea TV and NewsIn

The International news agency Reuters demanded the insolvency procedure for Realitatea TV and NewsIn, held by Realitatea – Catavencu, controlled by Romanian businessman Sorin Ovidiu Vantu, Romanian newspaper Romania libera reads, in its online edition. Requests were submitted on March 5 and the first trial date set is June 3rd.

Reuters has to cash in from Realitatea TV and NewsIn 60,000 lei. According to the law, a company can demand the insolvency procedure for another one if the debts exceed 30,000 lei.

Mediafax also requested the insolvency procedure for Realitatea TV, for a debt of 50,000 euro. If the court considers these requests valid, Realitatea TV and NewsIn can avoid the procedure if they pay up.