Division (57)

Based on recital 50 and 54 of this Technical Annex, the Romanian Water Administration holding only budgetary claims and claims of unsecured creditor under Article 96 of the insolvency law should have favoured the liquidation if it had acted as an MEO and thus granted an advantage to Oltchim under Measure 3 amounting to the agreed partial write-off of its claim (EUR 2 million).