insolvency

Court Rules To Halt Insolvency Procedures Against Romanian Airliner Blue Air

14:08, 22 Feb. 2011
The Bucharest Court has halted insolvency procedures for low-cost Romanian airliner Blue Air, the company said Tuesday.

Romanian bam boo Stores Owner Enters Insolvency

17:07, 17 Ian. 2011
Romanian Andromede Decor, the owner of gift and home decor retailer bam boo, entered insolvency procedures in order to reorganize its activity.

Bucharest Court OKs City Mall Owner’s Insolvency

18:03, 03 Nov. 2010
The Bucharest courthouse on Tuesday approved the insolvency request of Victoria Holding, the owner of City Mall shopping center in Romania’s capital city.

Bucharest Court Of Appeals Suspends Insolvency Procedures Against Airline Blue Air

14:54, 14 Oct. 2010
The Bucharest Court of Appeals suspended insolvency procedures against Romanian low-cost airline Blue Air, the airline operator said in apress release Thursday.

Romanian Airline Blue Air To Continue Operations, Challenge Insolvency Claims

17:37, 09 Oct. 2010
Romanian airline Blue Air will continue to operate, either on its own or under a court-appointed administrator, and will submit a request for the suspension of the insolvency procedure on Monday, said Gheorghe Racaru, the parent group's strategy and development manager.

Bucharest Court Allows Insolvency Claim Against Airline Blue Air

17:17, 08 Oct. 2010
The Bucharest Court Wednesday allowed insolvency claims against Romanian low-cost airline Blue Air filed by airline Carpatair and Service Excellence Solutions, Court spokeswoman Laura Radu told MEDIAFAX Friday.

Romanian Developer Impact Dubbed Insolvent, Appeal Pending

10:28, 12 Iul. 2010
The Bucharest Court allowed Thursday the insolvency request lodged by Romconstruct Ploiesti against Impact Developer & Contractor (IMP.RO), but the latter said it will appeal the decision.

Romania’s Standard Snacks Enters Insolvency

15:24, 07 Iul. 2010
The courthouse in Romania’s capital city Bucharest has recently approved the start of insolvency proceedings for snacks and chips maker and distributor Standard Snacks, at a creditor's request.

Romanian Astra Vagoane Calatori Threatens CFR Calatori With Insolvency Over RON31.6M Debt

14:16, 11 Iun. 2010
Romanian railway equipment maker Astra Vagoane Calatori summoned state-owned passenger railway company CFR Calatori to pay debts amounting to 31.61 million lei (EUR1=RON4.2163), threatening to file for the latter’s insolvency.

Romania’s No Of Insolvency Proceedings In 2010 Might Exceed Level Reported Last Year

13:05, 06 Iun. 2010
The number of insolvency proceedings in 2010 might exceed the level registered in 2009 when 20,000 companies filed for insolvency, said the National Union of Romanian Insolvency Practitioners (UNPIR) president Arin Stanescu.

Some 1,600 Romanian Companies Entered Insolvency In April

16:38, 02 Iun. 2010
A total number of 1,597 Romanian companies entered insolvency in April this year, 26% less than in the previous month, according to data from local trade registry ONRC.

Two Romanian Cos Ask For Insolvency Of Rompetrol Downstream

20:51, 14 Mai 2010
Two Romanian companies, Novensys Corporation and Automotive, asked the Bucharest Court to initiate insolvency procedures against Rompetrol Downstream, the fuel distribution division of the Rompetrol group.

Trade Register: 6,250 Romanian Cos Entered Insolvency In Q1

14:16, 14 Apr. 2010
The number of companies that started insolvency proceedings in the first quarter of the year exceeded 6,250, up 27% on the same interval a year earlier, according to data of the Romanian Trade Register Office, or ONRC.

Romanian Lenders May Need Ctrl Bk Sanction To File For Insolvency

18:22, 08 Apr. 2010
Romania’s central bank will be able to dismiss insolvency requests of credit institutions if it finds no merits to the claims, according to a government bill aimed to improve insolvency legislation.

Romanian Cos Undergoing Insolvency Have Cumulated Debts Of EUR2.5B

13:34, 17 Mart. 2010
Romania’s 32,00 companies that started insolvency procedures last year have cumulated debts of EUR2.5 billion, of which only about 10% was recovered last year, said Wednesday Arin Stanescu, head of the country’s union of insolvency practitioners UNPIR.

Trade Register: 4,100 Romanian Cos Entered Insolvency In 2010

16:41, 16 Mart. 2010
The number of companies that started insolvency procedures in the first to months of 2010 exceeded 4,100, 35% more than in the same period a year earlier, according to data of the Romanian Trade Register Office, or ONRC.

Romanian Cos File For Insolvency To Benefit From Law’s Advantages – Lawyer

13:31, 10 Mart. 2010
Romanian companies with debts have distorted the very purpose of insolvency and very often resort to the measure for its advantages, to shield themselves from foreclosure and from paying debt penalties, said Wednesday Dan Costinescu, partner at law firm Schoenherr si Asociatii.

Romanian Insolvent Companies Up 10% Dec ‘09-Jan ‘10

14:47, 14 Feb. 2010
More than 2,000 Romanian firms became insolvent in January 2010, up by almost 10% since December, with a total 18,421 firms announcing insolvency in 2009, according to the National Trade Registry Office (ONRC).

Bucharest Court Admits IT Retailer Flamingo’s Bankruptcy Request

12:57, 14 Dec. 2009
The Bucharest Court admitted Monday the insolvency request of IT&C retailer Flamingo International (FLA.RO) and named RVA Insolvency Specialists as judicial administrator, after the insolvency of its unit Flanco was also approved last week.

Romanian Pharmacists On Go-Slow Strike Tuesday, Wednesday

09:35, 24 Nov. 2009
Romanian pharmacists will be on go-slow strike Tuesday and Wednesday in protest they did not receive the money from health insurance authorities for the medicines sold in the last five months, and ask the Government to find solutions.

Most Romanian-Owned Retail Chains Entered Insolvency In ‘09

18:47, 23 Nov. 2009
The leading Romanian-owned supermarket chains were deeply affected by the economic crisis this year, as they were confronted with a sluggish demand, high debts and a lack of financing, and most of them entered insolvency procedures.

Romania’s Bks To Notify Insolvent Clients To Ctrl Bk In 2-Days

18:43, 13 Mai 2009
The Romanian banks should send the central bank BNR, as of next week, information on the clients subject to insolvency procedure, in two working days from the clients' notification.

Romanian Bks Want Insolvency Rules Amending

19:46, 29 Apr. 2009
Romanian banks want the amending of the insolvency legislation in order to limit the cases in which a creditor could ask for the insolvency of a company for debt non-payment, as the lenders are forced to book provisions or even start the debtor's foreclosure.

Court Suspends Insolvency Proceedings Against Metro Cash&Carry Romania

18:51, 05 Iun. 2008
A Bucharest court Thursday decided to temporarily halt insolvency proceedings against retailer Metro Cash & Carry’s branch in Romania, allowing the appeal in the case filed by the retailer.