BANKRUPTCY
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Creditors File EUR1,8B Worth Of Claims Against Bankrupt Insurer City Insurance
About 1,600 creditors of Romanian bankrupt insurer City Insurance, formerly the market leader with a 43% market share, have filed requests to recover a total amount of RON9 billion (EUR1.8 b...
Almost 700 Builders In Romania Fell Into Insolvency or Went Bankrupt in 2021
Almost 700 construction companies in Romania entered insolvency or bankruptcy in 2021, in line with Trade Registry data.
ASF Starts Bankruptcy Proceedings Against City Insurance
Romania’s Financial Supervisory Authority (ASF) on Friday evening announced it would start bankruptcy proceedings against City Insurance, the largest auto liability (RCA) insurance provider...
COS Targoviste Goes Bankrupt after 8 Years of Insolvency
Special steel producer COS Targoviste (COS.RO) has entered bankruptcy after the local court overruled its reorganization plan proposed by creditor Alphard Financial.
Insurer CertAsig Formally Enters Bankruptcy
CertAsig, an insurance company held by Royalton Capital Investors II, has entered bankruptcy following a definitive court ruling.
End Of An Era: Edy International Spedition Goes Bankrupt
Transportation company edy International Spedition, the largest such company in Romania until 2011, went bankrupt officially in 2019, Trade Register data show.
Court Overrules Electrica's Appeal to Oltchim's Bankruptcy
The Pitesti Court of Appeals has overruled as unfounded Electrica's opposition to the opening of bankruptcy procedures for chemical plant Oltchim Ramnicu Valcea. The ruling is final.
RAFO Onesti Goes Bankrupt, Liquidator Prepares Asset Sale
Oil refinery RAFO Onesti, one of the largest companies in Romania's oil industry 20 years ago, has entered bankruptcy, according to a decision by the Bacau Court.
Electrica Opposes Oltchim Bankruptcy
State-owned energy utility Electrica (EL.RO), a creditor of chemical plant Oltchim Ramnicu Valcea, has appealed the court decision allowing the chemical plant to start bankruptcy proceedings...