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Articles - insolvency

Final decision: Carrefour exits insolvency

Retail chain Carrefour is out of insolvency after the Appeal Court rejected GSL Logistics’s claims. The diaper distributor demanded Carrefour pay a debt of EUR 180,000.

Number of insolvent firms in Q1 of 2014 down 10 percent on year

The number of firms that have entered insolvency in the first three months of 2014 is down 9.75 percent compared to last year: from 7,535 companies in Q1 2013 to 6,800 companies in Q1 2014, according to data released by ONRC.

Romania, second in insolvencies rates in CEE at active companies

Considering the number of new insolvencies opened during 2013 in CEE countries, Romania has the second highest rate of insolvencies compared to the number of active companies, 6.44 percent, according to a recently Coface CEE Insolvency Report 2013.

Transilvania Insolvency House sold in March assets of EUR 10 million

Transilvania Insolvency House (CITR) ended March with sales of the real estate assets totaling approx. EUR 10 million.

PIC hypermarkets in Craiova, Calarasi, Braila put up for sale again

The former PIC hypermarkets in Craiova, Calarasi and Braila, as well as a plot of land in Blejoi, Prahova county, will be put up for sale again on April 25, by judicial administrator PricewaterhouseCoopers Business Recovery Services, at a total starting price of EUR 10.2 million.

Plaza Centers postpones again the completion of its projects

Plaza Centers estimates the completion date of only three Romanian projects, the project Casa Radio, the mall in Timisoara and the project Cina Plaza in Bucharest, the other mall projects which appeared in the 2012 financial report with completion dates in 2015 or 2015 are now shown in the report as being in the feasibility study phase.

Former factory Prefa Brasov’s land, up for auction starting EUR 14.7 million

The plot of land where the American Jonathan Mann intended to develop 10,000 apartments in Brasov is put for sale by the judicial liquidator, RVA Insolvency, for EUR 17.4 million, excluding of VAT, following the bankruptcy of the company which intended to develop the project.

Number of companies declared insolvent drops by about 15 pc

The number of companies that went into insolvency in January dropped by 14.5 per cent, down to 2,054, from 2,403 in the same period of last year, according to the National Trade Register Office (ONRC).

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