Romstrade’s largest creditors are lender BCR (RON303.49 million), insurer Astra Asigurari (RON235.8 million) and EximBank (RON166 million), according to data by liquidator Casa de Insolventa Transilvania (CITR), Romstrade’s court-appointed administrator.
The company entered insolvency in December 2012 after the Giurgiu Court approved a request filed by Iasi-based firm Agroindustrial Construct.
Romstrade owner Nelu Iordache was placed under preventive arrest in December for the alleged embezzlement of RON25 million from EU funds.
According to the most recent available data, Romstrade registered turnover of RON540 million in 2011. (EUR1=RON4.3612)