Bucharest court rejects STB insolvency petition citing missing documents

Tribunal ruling and procedural grounds

On 18 August 2026, the Bucharest Tribunal rejected the voluntary insolvency request filed by Societatea de Transport București (STB), the municipal public transport operator. The ruling was delivered by the 7th Civil Section of the court, which cited procedural deficiencies in the filing. Specifically, the court determined that STB failed to submit all statutory documents required under article 67, paragraph (1) of Law number 85/2014. The ruling allows a seven-day window from formal communication for STB to lodge an appeal. At the same hearing, the tribunal ordered the severance of competing insolvency petitions filed by corporate creditors, transferring those claims into separate case file number 30071/3/2026.

Municipal reaction and documentation dispute

Bucharest General Mayor Ciprian Ciucu described the court decision as unexpected in a public statement issued following the ruling. According to Ciucu, STB executives stated that the submission had undergone repeated internal reviews and contained all necessary legal filings. The mayor stated that STB had submitted five indexed case files to the court, adding that no party raised missing documentation during courtroom arguments. Ciucu indicated that municipal authorities would examine the ruling to identify which specific records the tribunal found missing, while urging STB to appeal the judgment within the legal deadline.

I spoke with the STB management and they swear that they checked them seven times and that all of them were submitted, that the request was complete. I will check. There were five indexed files, and in the courtroom nobody raised any missing item. I hope STB will appeal.

Financial liabilities and municipal budget burden

The insolvency initiative followed Decision number 314 adopted by the Bucharest General Council on 21 July 2026. That measure instructed Bucharest representatives Marian Artimon of the Social Democratic Party and Mitu Răzvan Aurel of the National Liberal Party in the STB General Shareholders Meeting to direct the board of directors to seek insolvency. STB lodged its formal petition with the Bucharest Tribunal on 6 August 2026. City officials sought court-supervised insolvency to halt the accumulation of commercial interest and late-payment penalties. Mayor Ciucu stated that the proposed corporate restructuring aimed to maintain transit schedules across the capital while protecting wages for bus drivers, tram operators, and depot workers.

Transport in common, just surface public transport, costs us in Bucharest 34% annually of the Capital City Hall budget. Then, if we add debts and penalties to the operating cost, their cumulative value reaches as much as the entire PMB budget. Yes, you read correctly. That is the shocking reality.

Creditor claims and November hearing

The dismissal of STB's debtor-led filing shifts procedural control toward external commercial suppliers seeking recovery of outstanding debts. If the court grants a creditor-led insolvency petition, creditors will oversee the administration process, reducing the municipality's executive authority. The creditor group listed in the proceedings includes energy supplier Tinmar Energy, rail vehicle manufacturer Electroputere VFU Pașcani (owned by Gruia Stoica), BMF Grup Soluții Integrate SRL, Ramco SRL, Romprest Servicii Integrate SRL, and Cleaning Servexpert SRL. The Bucharest Tribunal scheduled the first hearing for the severed creditors' insolvency case for 10 November 2026.