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Articles - insolvency

Coface: Insolvencies in Romania down 17 percent in Q3

During the first nine months of this year 15,575 new insolvencies were registered in Romania, down 17 percent compared to the same period of 2013, when 18.735 new insolvencies were opened, an analysis by credit risk management firm Coface shows. The analysis is based on the data provided by the National Trade Registry.

Large residential project in Bucharest goes insolvent

A company that was planning to build 1,200 housing units within the Casablanca Residence in the Titan area of Bucharest went insolvent by bank request, according to Mediafax.

Sale price for Swan Park offices, down to EUR 22 million

Bankrupt office complex Swan Office & Technology Park in Pipera-Tunari was put again on sale, the judicial liquidator decreasing the starting price with EUR 9 million, down to EUR 22 million, less than half of the investment.

Number of insolvencies in Romania could exceed 30,000 this year

There were around 28,000 new insolvency procedures in Romania last year, and this year this figure could reach or even exceed 30,000, said Valentina Burdescu, director of the Bulletin of Insolvency Procedures (BPI), during the second National Insolvency Conference.

Romanian court approves large construction company insolvency

The Bucharest court has recently approved the insolvency request for Romanian construction company Tehnologica Radion, whose owner, Theodor Berna, is currently under preventive arrest for tax evasion and money laundry.

Israeli developer to exit Romanian real estate market, sells land in Tîrgu Mureş

Real estate developer Plaza Centers, in process of exiting the Romanian market, announced the sale of 31,500 sq. m land in Tîrgu Mureş, where intended to build a commercial centre. The land was sold for EUR 3.5 million.

Construction company Tehnologica Radion enters insolvency

Tehnologica Radion, one of the main construction companies in Romania, has entered insolvency at its own request, according to Mediafax newswire. Insolvency procedures were initiated last week and the first hearing in this case will take place on Septmeber 15.

Euro Insol sells MLP Bucharest Sud logistics park for EUR 14.2 mln

Euro Insol has, the liquidator of bankrupt MLP Bucharest Sud, has sold the company’s asset – the MLP Bucharest Sud logistical park – for RON 62.5 million (approximately EUR 14.2 million) to AGI-RRE Hera, according to Mediafax.

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