T&T owners hope for postive outcome

By Murray Pollok01 June 2012

Tudor Tatar, one of the owners of Romanian rental company T&T Access Solutions that went into bankruptcy protection two weeks ago, told Access International that he and his colleagues remained focused on the business and that he was optimistic of a positive outcome within a year.

Mr Tatar, in a statement to AI, said T&T had been forced to seek protection under Romanian bancruptcy law because of a "lack of flexibility and vision" from its finance partners who had been "continuously harassing our company and eventually jeopardized our financial equilibrium." He acknowledged that difficult business conditions had contributed to the company's problems.

He said the company would be operated "in a legal and transparent manner", with company management and shareholders "standing firmly by the company".

"We remain focused on the business and most of all, we remain optimistic for a positive outcome within one year", said Mr Tatar.

T&T Access Solutions went into bankruptcy administration on 17 May. It operates a fleet of around 300 machines from a single outlet in Bucharest.

According to the Official Insolvency Gazette in Romania, creditors have until 9 July to submit claims. The first creditors' meeting will be held in Bucharest on 14 August.

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Euan Youdale Editor, Access International Tel: +44 (0)1892 786 214 E-mail: euan.youdale@khl.com
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