According to Business Standard’s calculations based on information available on the websites of courts in several Romanian counties and on information gathered from suppliers, lenders and other market players, K Tech’s debts exceed €10 million.
The Proca Romania IT distributor, part of the RHS Company since 2008, requested on 14 April 2009 that K Tech Electronics be declared insolvent, according to information available on the website of the Constanta Court.
UniCredit Tiriac Bank initiated a foreclosure procedure against K Tech Electronics on a €7 million loan. The company contested the foreclosure filed by the bank in court at the end of January, according to data provided by the Court House in Sector 1 Bucharest.
K Tech Electronics officials could not be contacted by the closing of this edition to comment on the information.
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