INSOLVENCY
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Frames: 7 Out of 10 Real Estate Developers in Romania Likely to Become Insolvent in Coming Period
Over 70% of real estate developers in Romania present a major insolvency risk amid rising challenges generated by falling real estate sales and hiked taxes, reveals an analysis conducted by...
Miller Centre Asks For Elefant.ro's Insolvency
The company Miller Centre SRL has filed a petition with the Bucharest Court requiring the insolvency of online retailer Elefant.ro, with bonds listed at the Bucharest Stock Exchange, the ret...
Premier Palace & Spa Hotel In Bucharest Up For Sale For EUR6.9M
Premier Palace & Spa Hotel in Bucharest, held by Premier Palace, insolvent since 2019, has been put up for sale for EUR6.9 million, court appointed trustee Euro Insol announced.
Two in 100 Companies Already in Default in Romania; Insolvency Numbers Set to Rise Further in 2023
In textile production, constructions and food industry, between 3 and 5 firms out of 100 are insolvent, with these being the fields of the Romanian economy where the weight of struggling com...
Airline Blue Air Enters Insolvency
Romanian low-cost airline Blue Air has entered insolvency at its own request, in line with data on the website of the Bucharest Municipal Court.
Bucharest’s Main Heat Supplier ELCEN Exits Insolvency
Electrocentrale Bucuresti SA (ELCEN), Bucharest’s main heat supplier, has announced the Bucharest Tribunal decided to close insolvency proceedings and reintroduce ELCEN in the economic circu...
Altur Slatina Renounces Opening Insolvency Proceedings
The Board of Directors of car parts manufacturer Altur Slatina during the January 12 meeting approved the decision of giving up the application to open general insolvency proceedings, after...
Nemo Express Files for Insolvency
Parcel delivery company Nemo Express Logistic (Nemo Express) filed for insolvency on October 11, 2022, with two creditors – Capital Fleet Services SA and Premium Store SRL joining the move,...
Number of Insolvencies in Romania Almost Unchanged in H1, 2022
The number of companies that went insolvent in the first half was almost unchanged compared with the year-ago period, 3,580 compared with 3,033, a report by insolvency specialist CITR shows.