06.24.2014

Romania's Trade Registry on Tuesday said 11,030 companies filed for insolvency in the first five months of the year, down 13.5% from 12.747 companies in the year-earlier period. more

06.20.2014

Romanian insolvent companies owe an estimated EUR25 billion in overdue debt to the state, local banks and to other companies, the Romanian Banking Association, or ARB, said Friday. more

06.11.2014

The industrial park built in Arad (western Romania) in 2011 by Italian group Cefin has been put up for sale through direct negotiation by the legal administrator of the real estate developer which more

06.04.2014

The debts of Romania’s state-run hydropower company Hidroelectrica fell 64%, to RON1.54 billion, from RON4.33 billion in June 2012, when it first went insolvent. more

06.03.2014

Energy Minister Razvan Nicolescu asked Remus Borza, Euro Insol legal administrator, to give back the EUR2.2 million received for managing Romania’s state-run hydropower company Hidroelectrica during more

05.28.2014

Romania’s state-run hydropower company Hidroelectrica will likely complete its second insolvency process in May or June next year, the company’s legal administrator Euro Insol said Wednesday. more

05.14.2014

The number of insolvency procedures opened dropped by around 14%, to nearly 6,000 procedures, affecting mostly utilities, the extracting industry and constructions, according to Coface. more

04.23.2014

The supervisory board of Hidroelectrica, Romania’s largest energy producer that entered insolvency for the second time on February 25, has been dissolved, and none of the members appointed in early more

04.17.2014

Romania's Trade Registry on Thursday said 6,800 companies filed for insolvency in the first three months of the year, down 9.75% from 7.535 companies in the year-earlier period. more

04.07.2014

Cluj-based poultry and bread producer Oncos group, with a 44-unit network, decided to enter insolvency, after having submitted a request in this respect to Cluj Court. more

04.02.2014

Alpha Bank Romania’s chief said Wednesday bankers need stronger financial discipline principles so feasible customers are not passed over because of the “unhealthy” practices of some companies more

04.02.2014

Top Brands Distribution (TBD), a top player in the consumer goods industry, entered insolvency in March, thus raising the number of companies with revenues of more than EUR100 million that have more

04.01.2014

Fast moving consumer goods distributor Top Brands Distribution, number two in its line of business in 2011, went insolvent after losing its sole client, cigarette producer Philip Morris. more

03.31.2014

Top Brands Distribution, known for the distribution of cigarettes produced by Philip Morris Romania and of Mondelez (former Kraft Foods) products, has entered insolvency after its 2012 turnover more

03.27.2014

Banks see improvement in asset liquidation sales and support company restructuring outside of insolvency procedures, which they consider simpler and less costly than insolvency. more

03.27.2014

Less than 3% of all active businesses in Romania (less than 20,000) have turnovers of more than EUR1 million and a decisive role in the Romanian economy, and 3,200 of them are insolvent but have not more

03.27.2014

Hidroelectrica’s court appointed trustee, Remus Borza, believes the electricity producer will exit insolvency in seven to twelve months and expects the initial public offering of 15% to happen in more

03.25.2014

Carpatair, the private airline which went insolvent this year, no longer operates regular flights from Romania’s airports as the company’s reorganization plan has not been endorsed by creditors, more

03.12.2014

Hidroelectrica, Romania’s largest power generator, is again undergoing insolvency, for the second time in less than a year, and market sources say its stock market listing is almost impossible this more

02.26.2014

The Economy Ministry will take steps for state-run hydropower producer Hidroelectrica to exit insolvency “as soon as possible”, and will reorganize the company by giving up investments unimportant more

02.26.2014

The Economy Ministry might file extraordinary appeal for Romanian state-run hydropower producer Hidroelectrica to exit insolvency, Gabriel Dumitrascu, head of privatization with the Energy Department, more

02.26.2014

Insolvency company Euro Insol has been reinstated as judicial administrator of Romanian state-run hydropower producer Hidroelectrica after the latter was court-ordered into re-entering reorganization more

02.25.2014

Hidrolectrica went insolvent again after Court of Appeals ruled in favor of several energy traders which appealed the decision of the company's former legal administrator of not acknowledging RON1.3 more

02.21.2014

A little over 2,000 companies went out of business in Romania last month, down 14.5% compared with January 2013, data from the Trade Registry showed Friday. more

02.14.2014

The new insolvency code, a law that banks and other creditors expect to make it easier for them to get their money back, while ailing companies hope it will provide them with a better framework for more