BANKRUPTCY
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Bakery Firm Spicul Pushed Into Bankruptcy; Majority Shareholder To File Appeal
Creditors of bakery company Spicul Bucuresti, which has been insolvent for almost two years, Thursday rejected the reorganization plans submitted by legal administrator PwC and majority shar...
Alpine Leaves Roads, Railways, Office Spaces Unfinished In Romania
Austrian company Alpine Bau will no longer build 16 km of highway, 50 km of railway and an office building in Romania, as it filed for bankruptcy in Austria.
No To-Big-To-Fail Banks In Romania, Says Central Bank’s Chief
The largest Romanian banks are not nearly large enough to be deemed “too big to fail”, but some of them may be too big by local economic standards, central bank governor Mugur Isarescu said...
Fifty Unfavorable Contracts Pushed Posta Romana On Brink Of Bankruptcy
Romanian state-owned company Posta Romana could have been a profitable company had it not been “plundered” through contracts that were definitely unfavorable, Communications Minister Dan Nic...
Bankrupt Armonia Mall Up For Sale Again For 30% Off
Creditors of bankrupt shopping center Armonia Mall in Braila, eastern Romania, have taken 30% off their asking price and hope to sell it for EUR14.85 million after its previous price tag, of...
Five Years Of Crisis Drive 90,000 Companies Into Insolvency
No part of Romania has escaped insolvency in the last five years, when one company for every 200 people defaulted.
Office Building Evo Center One To Be Auctioned Off For EUR1.45M
Office building Evo Center One in Pipera, owned by Romanian businessman Dinu Patriciu, will be auctioned off in April at a starting price of EUR1.45 million.
Valeriu Stoica: Bankruptcies Bad Omen For Lawyers
Lawyer Valeriu Stoica, former justice minister and a leading member of the opposition Democratic Liberal Party, says he divides his time between law firm Stoica & Asociatii, his activity as...
Bucharest Residential Building Verdi Park Auctioned Off For EUR4M
Bucharest-based luxurious real estate compound Verdi Park, under bankruptcy, will be auctioned off by its liquidator September 10, at a starting price of EUR4 million.