INSOLVENCY
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CITR: Number Of Insolvent Firms In Romania On The Rise, But Market Is Maturing
The number of firms in Romania with more than EUR1 million in turnovers, which entered insolvency in 2013, has increased and the upward trend will maintain in 2014, according to Rudolf Vizen...
Era Shopping Park Oradea Enters Insolvency
The Bucharest Court Wednesday approved the insolvency request filed by firm Omilos Oradea, which owns Era Shopping Park in Oradea.
Baxi Romania Enters Insolvency
Thermal systems supplier Baxi Romania, part of Dutch-registered group BDR Thermea, has entered insolvency after the Ilfov Court approved its request early November.
Romania’s New Insolvency Code Solves None Of Current Legislative Flaws - Investors
The main flaws in Romania’s current legislation on insolvency concern the duration of proceedings, a low debt recovery rate and high costs, which the newly adopted regulations on insolvency...
Court Finds Parts Of Insolvency Code Unconstitutional
Some of the provisions of the government emergency decree regulating insolvency procedures are unconstitutional, Romania’s Constitutional Court ruled Tuesday.
Trade Registry: Over 20,220 Romanian Firms Entered Insolvency In January-September.
About 1,734 Romanian firms defaulted on their debts in September 2013 and the number of insolvencies reached some 20.220 in the first nine months, up about 7% on the year, according to Trade...
New Insolvency Code Takes Effect On October 25; NGOs Denounce Article On TV, Radio Licenses
Romania’s new Insolvency Code was published in the Official Journal Friday and will take effect on October 25. It will also apply to insolvency requests currently under analysis.
Insolvent Residential Project Citadella Titan Up For Sale For EUR6.85M
Insolvent residential project Citadella Titan in Bucharest could be put up for sale for EUR6.85 million, according to the reorganization plan approved by creditors.
Casa de Insolventa Transilvania Appointed Judicial Administrator For Bankrupt Constructor Alpine
Casa de Insolventa Transilvania (CITR) has been designated the judicial administrator for construction company Alpine SA, part of Austria’s Alpine group, undergoing bankruptcy.