New Insolvency Code To Push Firms Into Bankruptcy

10.08.2013 By Ioana Tudor

Romania’s new Insolvency Code, to take effect on October 25, will impact small- and medium-sized companies, whose reorganization can’t be carried out in only one year, and will push them into bankruptcy, liquidator Casa de Insolventa Transilvania, or CITR, said in a press release Tuesday.

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Keywords:
INSOLVENCY CODE
, COMPANY
, BANKRUPTCY