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Articles - insolvency

Era Shopping Oradea retail entered insolvency

Omilos Oradea, a company which portfolio includes Era Shopping Park in Oradea, entered insolvency, as Bucharest court accepted its request.

Number of insolvencies doubled in October

The number of companies that have filed for insolvency doubled in October compared to September, so that 23,543 cases have been registered after the first ten months of this year, up by approximately 8 per cent compared to the same period last year, the National Trade Registry Office (ONRC) informs.

Vectra Service files for insolvency

Romania’s Vectra Service, one of the biggest constructions company, filed for insolvency on Wednesday, due to falling road public acquisition contracts, which generated the bulk of business, and low private investments in the Brasov area.

The Developer of Casa Radio Project in Bucharest entered Insolvency

Plaza Centers, the developer of Casa Radio in Bucharest entered judicial reorganization under the protection of the Dutch bankruptcy law, in order to solve the liquidity problems the company is facing, the Israeli investor announced.

Romania’s Constitutional Court turns down new insolvency code

The Constitutional Court ruled out on Tuesday some provisions of the government emergency ordinance (GEO no.9/2013) enforcing the new insolvency legislation are unconstitutional, reports Mediafax newswire.

Romania’s new insolvency code to be enforced starting October 25

The new insolvency code will be rolled out in three weeks time after the government passed it on Wednesday through an emergency government ordinance, in a move which came as a surprise for the consortium working of the bill as it contained a series of fresh provisions, said on Friday Arin Stanescu, president of the National Union of Insolvency Practitioners in Romania (UNPIR), during the first National Insolvency Conference.

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