ROMSTRADE
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Insolvent Romstrade Sues Romanian State Over Annulled Contracts
Romstrade, the building company controlled by businessman Nelu Iordache which entered insolvency proceedings more than a year ago, has sued Romania’s road authority CNADNR and Bucharest City Hall over the annulment of two major contracts, namely the constructi...
Insolvent Romstrade Downsizes Staff To 100 Employees From 930 In December 2012
Romstrade, once one of the largest construction firms in Romania, has downsized its staff to below 100 employees after entering insolvency a year ago.
CNADNR To Terminate Transalpina Constraction Contract With Romstrade
Romania’s national roads authority CNADNR will terminate a contract with firm Romstrade, which has failed to complete the construction of the country’s highest paved road Transalpina (2,145...
Romstrade’s Creditors Claim Back EUR770M
The value of receivables creditors claim back from Romanian insolvent constructor Romstrade rises to 3.37 billion lei (EUR772 million), of which RON2.9 billion represent approved debts.
Construction Firm Romstrade Enters Insolvency
Romanian construction company Romstrade has entered into insolvency proceedings after the Giurgiu Court approved the request filed by Iasi-based firm Agroindustrial Construct and appointed C...
Antifraud Department: Businessman Nelu Iordache Embezzled EUR6M From EU Funds
A report by Romania’s antifraud department shows businessman Nelu Iordache embezzled EUR6 million from European Union funds via his construction firm Romstrade, as he used the money for vari...
Competition Watchdog Approves Romstrade's Takeover Of ABC Asigurari
Romania's competition watchdog in June authorized the takeover of insurer ABC Asigurari by construction company Romstrade, owned by Nelu Iordache, for EUR6.7 million.
Romstrade Plans To Double Revenue This Year
Romanian construction company Romstrade, controlled by businessman Nelu Iordache, has budgeted 140% growth of its revenue to some 1.25 billion lei (approximately EUR290 million) for this yea...
Businessman Nelu Iordache Signs Agreement To Buy Insurer ABC Asigurari For EUR6.7M
Romanian businessman Nelu Iordache signed an agreement in principle with the shareholders of insurer ABC Asigurari to buy a 98.57% stake in the company for EUR6.69 million.