Special Administration tries relaunching KD Life
 The Special Administration instituted by the ISC for the company KD Life at the beginning of March has as main objectives the relaunching of the company by increasing the share capital, either by the present shareholders or by other interested investors, the protection of the interests of the insured, as well as reducing costs in order to make the activity more efficient, according to a company press release.
Also, the Special administrator of the insurance company, Nicolae Eugen CRISAN, appointed based on the ISC Decision from March the 3rd, 2010, informs that there have been taken all necessary measures for the preservation of assets, recovering where is the case the sums wrongly paid by the company.
"This way, we assure once more the owners of KD Life Asigurari insurance policies of the fact that their insurance contracts are in force and normally running, without prejudice to their rights in any way", said the special Administrator.
The ISC Council decided, in its meeting from March the 2nd, 2010, starting the procedure of financial recovery by special administration of KD Life Asigurari, this replacing the procedure of financial recovery based on plan, established in February 2009. With the appointment of the special Administrator, as of March 3rd current year, all attributions and competencies of the Executive Management, represented by the General Manager and the Deputy General Manager, were suspended, while the attributions and competencies of the Board of Directors have also been suspended.
Author: Andreea IONETE
on 16.03.2010
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