INSOLVENCY
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Hidroelectrica To End Insolvency Process In May-June 2015 - Administrator
Romania’s state-run hydropower company Hidroelectrica will likely complete its second insolvency process in May or June next year, the company’s legal administrator Euro Insol said Wednesday...
Coface: Insolvencies Down 14% In 1Q, To 6,000 Open Procedures
The number of insolvency procedures opened dropped by around 14%, to nearly 6,000 procedures, affecting mostly utilities, the extracting industry and constructions, according to Coface.
Hidroelectrica’s Supervisory Board Dissolved After Company Went Insolvent
The supervisory board of Hidroelectrica, Romania’s largest energy producer that entered insolvency for the second time on February 25, has been dissolved, and none of the members appointed i...
Trade Registry: 1Q Company Insolvencies Down 10% On Year
Romania's Trade Registry on Thursday said 6,800 companies filed for insolvency in the first three months of the year, down 9.75% from 7.535 companies in the year-earlier period.
Oncos Group Goes Insolvent
Cluj-based poultry and bread producer Oncos group, with a 44-unit network, decided to enter insolvency, after having submitted a request in this respect to Cluj Court.
Alpha Bank: Romanian Banks Need Better Financial Discipline
Alpha Bank Romania’s chief said Wednesday bankers need stronger financial discipline principles so feasible customers are not passed over because of the “unhealthy” practices of some compani...
100 Largest Companies Going Insolvent In Past Year Had RON13B In Revenue And RON1.3B Losses
Top Brands Distribution (TBD), a top player in the consumer goods industry, entered insolvency in March, thus raising the number of companies with revenues of more than EUR100 million that h...
Top Brands Distribution Looking For New Clients, But Does Not Rule Out Bankruptcy
Fast moving consumer goods distributor Top Brands Distribution, number two in its line of business in 2011, went insolvent after losing its sole client, cigarette producer Philip Morris.
Distributor Top Brands Enters Insolvency After Massive Drop In Turnover
Top Brands Distribution, known for the distribution of cigarettes produced by Philip Morris Romania and of Mondelez (former Kraft Foods) products, has entered insolvency after its 2012 turno...