The Story Of Petromservice’s Insolvency

11.08.2011 By Andrei Chirileasa

Four years after Austria’s OMV paid EUR328 million to Sorin Ovidiu Vantu to take over Petromservice, two questions remain unanswered: why did the Austrian company pay so much to take over the employees that it had gotten rid of in 2002 and where did the money go? PSV Company, formerly Petromservice, surprisingly became insolvent in 2009, just one year after it had collected the money from Petrom.

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Keywords:
PETROM
, PETROMSERVICE
, PSV
, OMV
, VINTU
, PRIVATIZATION
, EMBEZZLEMENT