07.27.2016

Romania’s Financial Supervisory Authority (ASF) will decide Wednesday on the bankruptcy of Romanian insurance company Carpatica Asig, a company with an annual turnover of EUR130 million and 500 more

06.29.2016

Romania’s Insurance Supervisory Authority (ASF) said it withdrew the operating license of insurer Forte Asigurari Reasigurari, as a result of ascertaining the company’s state of insolvency, and more

06.03.2016

Romanian Bilbor Mineral Water, the producer of mineral water Bilbor, went bankrupt nearly one year after filing for insolvency. more

04.29.2016

Bucharest Court Of Appeals on Friday ruled irrevocably on the bankruptcy of insurance company Astra Asigurari, eight months after the Financial Supervisory Authority ASF asked for the insurer’s more

04.11.2016

The number of bankrupt companies rose by over 2,000 companies (37%) in 2015, to nearly 7,450 companies, according to a KeysFin study. more

03.31.2016

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02.05.2016

Czech Republic’s CTP Invest, one of the most active companies on the Romanian property market, is eyeing the Swan Office & Technology Park in Pipera-Tunari north of Bucharest. more

01.28.2016

Mehedinti court on Thursday ruled the bankruptcy of Romania’s Autonomous Administration for Nuclear Activities (RAAN), while Euro Insol, Hidroelectrica’s judicial administrator, was proposed as more

12.28.2015

Energy Minister Victor Grigorescu, who is paying a working visit to state-run energy holding Complexul Energetic Hunedoara on Monday, said the company’s situation is “disastrous” and asked the more

10.12.2015

Bucharest Court on Monday decided to postpone the suit on the bankruptcy of insurer Astra Asigurari, requested by Romania's Financial Supervisory Authority ASF after the company failed to raise the more

09.03.2015

Astra Asigurari, a company the Financial Supervisory Authority (ASF) decided had no solution for other than bankruptcy, only has 3.5 million lei (almost EUR790,000) in its accounts compared with RON20 more

08.26.2015

Romania's Financial Supervisory Authority ASF on Wednesday asked for the bankruptcy of insurer Astra Asigurari, under special administration, after the company failed to raise RON425 million for the more

04.07.2015

Romanian bakery company Spicul, a name with a 160-year history in the local industry, has entered bankruptcy after four years of insolvency and now the plant of Rudeni locality, Ilfov, is put up for more

01.28.2015

Elka Oktal Group, which manages oktal.ro, among Romania’s ten largest IT&C online stores by 2013 revenue, went bankrupt after piling up a heavy debt load. more

01.21.2015

The problems caused by the appreciation of the Swiss franc can only be partly solved by personal bankruptcy procedures, as such procedures only apply to insolvent individuals and would make things more

09.11.2014

TCE 3 Brazi, owned by politician Culita Tarata, which made a profit of EUR50 million in the past six years but also amassed debts of EUR30 million, has been declared bankrupt. more

06.03.2014

River Invest company, controlled by businessman Ion Radulea, developer of Sema Parc real estate project in Bucharest, went bankrupt at the end of last month. more

02.19.2014

Statiunea Ocna company, which managed the Ocna Sibiului resort in the spa town by the same name known for its salt waters, went bankrupt on EUR7.2 million debt. Its biggest creditor is Romania’s more

12.11.2013

Pulp and paper producer Somes Dej (SMS.RO), controlled by businessman Stefan Vuza, has been declared bankrupt. more

10.08.2013

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 more

10.01.2013

Greek fashion retailer Sprider Stores Tuesday closed its store network in Romania after its local subsidiary went bankrupt in July. more

08.02.2013

Creditors of bakery company Spicul Bucuresti, which has been insolvent for almost two years, Thursday rejected the reorganization plans submitted by legal administrator PwC and majority shareholder more

07.24.2013

Austrian company Alpine Bau will no longer build 16 km of highway, 50 km of railway and an office building in Romania, as it filed for bankruptcy in Austria. more

07.18.2013

The largest Romanian banks are not nearly large enough to be deemed “too big to fail”, but some of them may be too big by local economic standards, central bank governor Mugur Isarescu said more

06.02.2013

Romanian state-owned company Posta Romana could have been a profitable company had it not been “plundered” through contracts that were definitely unfavorable, Communications Minister Dan Nica said more