INSOLVENCY
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Court Approves Mexxem's Reorganization Plan
The reorganization plan for insolvent Mexxem, owner of the Stone Creek stores, has been approved in court and will be implemented this month, Wednesday said liquidator Casa de Insolventa Tra...
Furniture Plant Where Dan Sucu Holds Minority Stake Goes Bankrupt
Targu-Mures-based furniture maker Ilefor, where businessman Dan Sucu holds a minority stake, was dubbed insolvent and has liquidator RVA Mures Insolvency Specialists as court-appointed admin...
Atlas, Romtelecom’s First Rival, Goes Insolvent On EUR70M Debt
Atlas Telecom Network, the first company that competed with Romtelecom on the landline market in 2003, after liberalization, has gone insolvent after it accumulated over EUR70 million in deb...
Ambient: Insolvency Was An Option, But We Didn't Take It
Ambient Sibiu, one of the biggest Romanian businesses in retail and distribution of construction materials, even considered insolvency following the collapse of sales and the losses it poste...
GHCL Upsom Dubbed Insolvent For EUR14M Debt To Romgaz
The Alba court allowed Thursday the insolvency claim filed by state-owned gas distributor Romgaz against chemical plant GHCL Upsom Ocna Mures (UPS.RO).
All Employees Of Burci's Plants Temporarily Laid Off
All 2,000 employees of Astra Vagoane Arad, Meva and Romvag plants, undergoing insolvency proceedings, were temporarily laid off almost two weeks ago, as the companies controlled by Cristian...
Romanian Contor Group Pins Bankruptcy On Flawed Management
Shareholders of Romanian measuring device maker Contor Grup (CGC.RO) held majority holder and president-general manager Tudor Caracioni responsible for the company’s bankruptcy, and replaced...
Impact Developer&Contractor Brushes Off Insolvency Claims
Romanian realty developer Impact Developer&Contractor (IMP.RO) on Friday said it has cleared the insolvency claims it was facing, through a final and binding decision rendered Thursday by th...
Trade Registry: Fewer Companies Went Belly Up In 1Q
Romania's Trade Registry Thursday said 5,082 companies filed for insolvency in the first quarter, down 18.6% from 6,250 companies in the same period a year earlier.