08.13.2012

The financial crisis over the past three years has “brought down” many malls, housing projects and store chains, as well as tens of plants operating in the food, industrial and construction more

08.06.2012

Tudor Dragomir Niculescu, the owner of the Turabo coffee shop chain and one of the first to get the coffee shop market going in Romania, has closed down, in less than three years, all his 50 coffee more

07.18.2012

The financial status of the Romanian National Lottery "is not good" and the company may enter insolvency unless it not enforces measures to boost efficiency, the company’s general manager Dan more

07.11.2012

Romania’s largest insolvency, that of energy producer Hidroelectrica, is proving an increasingly tough mission, since the company could again use the force majeure clause because of the drought. more

07.01.2012

Romanian hydropower producer Hidroelectrica’ filing for insolvency was a "shocking” and “historical” decision and a report on what caused the company to end up in this situation will be more

06.25.2012

Hidroelectrica’s creditors and its court-appointed administrator are due to discuss the impact of the shocking insolvency of Romania’s most valuable state-run company at the central bank’s more

06.23.2012

The reorganization of Romanian state-owned hydropower producer Hidroelectrica, which entered insolvency Wednesday, will target economic mechanisms and will not entail selling assets, according to an more

06.21.2012

Romania’s energy regulator ANRE Thursday said it will not cancel or withdraw any authorization or license held by state-owned hydropower producer Hidroelectrica, which entered insolvency Wednesday. more

06.20.2012

The failure of Romania's treasury bill auction earlier this week can partially be the result of the announcement of Hidroelectrica's insolvency, which kept some banks out or made them demand higher more

06.20.2012

The Bucharest Court on Wednesday approved the start of insolvency proceedings for Romanian hydropower producer Hidroelectrica, lawyer Remus Borza said. more

06.20.2012

Remus Vulpescu, the lawyer appointed by Prime Minister Victor Ponta to run Hidroelectrica, the largest state-owned company, says the decision to file for insolvency was made on Friday, after the more

06.19.2012

The insolvency of Hidroelectrica, Romania's largest power producer, will not end in the company's bankruptcy but its reorganization, which will last 16-18 months and will not entail the sale of any more

06.19.2012

The Managing Board of Hidroelectrica decided to request the start of insolvency proceedings as the Romanian hydropower producer registered lower sales and rising debts, the company said in a press more

06.19.2012

Atlantic Restaurant System, the operator of the Burger King franchise in Romania, has gone insolvent and closed three restaurants. The fast-food chain now has two restaurants left, which it will close more

06.18.2012

Firm Mitre Building Construction on Monday filed an insolvency claim with the Bucharest Court against shopping center operator Cocor SA Bucuresti (COCR.RO) for unpaid bills of about 120,000 lei (some more

06.18.2012

Although Romanian hydropower producer Hidroelectrica has requested the start of insolvency proceedings, two of the five members of the company's board say they did not attend the meeting where this more

06.13.2012

Romania's Trade Registry on Wednesday said 7,427 companies filed for insolvency in the first five months of 2012, down by nearly 20% from 9,177 companies in the same period in 2011. more

06.13.2012

The number of insolvencies might fall significantly this year considering the insolvency drop seen in all activity sectors in the first quarter of the year, the most noticeable decrease over the past more

06.12.2012

Insolvency procedures against Romanian expo center Romexpo will continue after the Bucharest Court of Appeals overruled Tuesday the center’s request to temporarily suspend the application of a court more

06.07.2012

Most Romanian firms that entered insolvency this year operate in the construction, real estate, commerce and production sectors, according to data by liquidator Casa de Insolventa Transilvania (CITR). more

05.31.2012

A Bucharest court has appointed a consortium led by Euro Insol as administrator of Romanian bankrupt engine manufacturer UCM Resita (UCM.RO), the insolvency firm said in a statement Thursday. more

05.25.2012

Romanian expo center Romexpo said Friday it has appealed the decision of the Bucharest Court which upheld an insolvency claim filed against it by firm Arsenoaiei & Matasel Consulting, arguing that it more

05.25.2012

Romanian expo center Romexpo has entered insolvency at the request of a creditor, firm Arsenoaiei and Matasel Consulting, for an overdue debt of over 180,000 lei (EUR40,300). more

05.14.2012

The number of companies going insolvent in the first four months in Romania dropped by over 20% to 5,625 from 7,192 in the same period in 2011, according to Trade Registry data released Monday. more

05.14.2012

Can Serv, owner of Romanian supermarket chain Primavara, has entered insolvency procedures after the Bucharest Court upheld its insolvency claim at the end of last week. more