INSOLVENCY
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Trade Registry: 658 Romanian Firms Went Insolvent In August, Lowest Level In 2013
About 658 Romanian firms defaulted on their debts in August, the lowest level registered in 2013, and the number of insolvencies reached some 10,313 in the first eight months, down about 7%...
Galli Gallo Goes Insolvent Weighed Down By EUR8M Debt
Galli Gallo, the largest turkey farmer and turkey meat processor in Romania, went insolvent at its own request amid difficulties on the poultry market and weighed down by debts.
Silver Mountain Project Developer Enters Insolvency; BCR Major Creditor
Romanian real estate firm INR Management Real Estate, which developed the Silver Mountain residential project in the central county of Brasov, has entered insolvency at the request of its ma...
Two Spanish-Held Solar Park Developers In Romania File For Insolvency
Firms Rios Solar Renovables and Rios Total Solar, part of Spanish group Rios Renovables, which develops green energy projects in Romania, filed for insolvency at the beginning of August.
BNR: Follow-up Deal With IMF Should Shelter Romania’s Banks Against Abusive Claims
Romania’s planned follow-up agreement with the International Monetary Fund should include a series of stipulations regarding the personal insolvency law that would limit bank exposure to dam...
Energy Bio Chemicals Enters Insolvency
Romanian firm Energy Bio Chemicals SA has entered insolvency at the request of E.ON Energie Romania, a unit of German utility E.ON.
SME Minister: New Insolvency Law Finalized; Up For Public Debate In August
Romania’s new insolvency law has been finalized and will be put up for public debate in August, Maria Grapini, the country’s Minister for Tourism, Business Environment and Small and Medium-s...
Shopping Malls Worth EUR600M Insolvent, Closed Or Left Unfinished
Eleven shopping centers in Romania went insolvent or ceased activity and constructions on ten other shopping mall projects were halted after investing millions of euros already, which do not...
Managers Causing Firms To Enter Insolvency May Cover Debts From Their Own Pocket
Managers who cause a firm to enter insolvency will have to cover partially or totally the debts registered by the firm from their own pocket and will not be allowed to run other companies fo...