08.02.2013

Creditors of bakery company Spicul Bucuresti, which has been insolvent for almost two years, Thursday rejected the reorganization plans submitted by legal administrator PwC and majority shareholder more

07.24.2013

Austrian company Alpine Bau will no longer build 16 km of highway, 50 km of railway and an office building in Romania, as it filed for bankruptcy in Austria. more

07.18.2013

The largest Romanian banks are not nearly large enough to be deemed “too big to fail”, but some of them may be too big by local economic standards, central bank governor Mugur Isarescu said more

06.02.2013

Romanian state-owned company Posta Romana could have been a profitable company had it not been “plundered” through contracts that were definitely unfavorable, Communications Minister Dan Nica said more

04.24.2013

Romania is one of the few countries in Europe that doesn’t have a personal bankruptcy legislation, leaving over-indebted consumers unprotected against creditors, a report commissioned by the more

04.17.2013

Creditors of bankrupt shopping center Armonia Mall in Braila, eastern Romania, have taken 30% off their asking price and hope to sell it for EUR14.85 million after its previous price tag, of EUR25 more

04.01.2013

No part of Romania has escaped insolvency in the last five years, when one company for every 200 people defaulted. more

03.20.2013

Office building Evo Center One in Pipera, owned by Romanian businessman Dinu Patriciu, will be auctioned off in April at a starting price of EUR1.45 million. more

02.27.2013

Lawyer Valeriu Stoica, former justice minister and a leading member of the opposition Democratic Liberal Party, says he divides his time between law firm Stoica & Asociatii, his activity as a more

08.23.2012

Bucharest-based luxurious real estate compound Verdi Park, under bankruptcy, will be auctioned off by its liquidator September 10, at a starting price of EUR4 million. more

07.20.2012

Romanian Economy Minister Daniel Chitoiu Friday said power producer Hidrolectrica could emerge from bankruptcy by the fourth quarter of 2012 at the latest. more

04.09.2012

Romanian liquidator RVA Insolvency, court-appointed administrator of retail networks Mic.ro and miniMax, will ask creditors to allow bankruptcy for the two firms, since sale talks failed. more

01.26.2012

Bankruptcy has not affected many major businesses in the past three years, only around 20, shows a ZF review of the biggest bankruptcies in the past three years. more

01.11.2012

The bankruptcy procedure will also apply to reinsurers, alongside insurance-reinsurance companies, according to a bill approved Wednesday by Romania's Government, which amends Law 503/2004 on the more

12.30.2011

The bankruptcy procedure will also apply to reinsurers, alongside insurance-reinsurance companies, according to a bill put forward by the Romanian Finance Ministry. more

10.21.2011

Companies that have filed for bankruptcy or have debts to Romania's state budget may not take part in public-private partnership tenders, but may declare they are not in such a situation through a more

10.18.2011

Insolvency claims by companies will continue in 2012, but judicial reorganizations will outweigh bankruptcies, Tuesday said Rudolf Paul Vizental, senior partner within liquidator Casa de Insolventa more

10.07.2011

After the wave of foreclosures and real estate development bankruptcies in the last two years, local banks have come to hold office buildings, apartments and plots valued at nearly EUR1 billion in more

09.29.2011

Finance ministries and central banks also work with scenarios that consider the exit of Greece from the euro zone and Romania should have a plan B for a prospective bankruptcy of Greece, in which case more