02.16.2012

Romanian businessman Dinu Patriciu surprised the entire retail market in 2010 when he “declared war” on foreign retail chains and started to develop the Mic.ro and Mac.ro stores (formerly Minimax more

02.15.2012

Romanian businessman Dinu Patriciu on Tuesday filed for the insolvency of his Mic.ro Retail company and the court date was set for Thursday, February 16. more

01.24.2012

Romania's Trade Registry Thursday said 19,651 companies filed for insolvency in the 2011, down 10% from 21,700 companies in the year before. more

01.12.2012

At least 20 Minimax Discount stores, held by Romanian businessman Dinu Patriciu, are closed for customers, and their future is in doubt. more

01.12.2012

The Romanian unit of Israeli dairy maker Tnuva, the company's only expansion outside Israel, was backed by a total investment of EUR55 million, and it leaves behind a plant, a cattle farm, eight-digit more

01.11.2012

Dairy maker Tnuva Romania’s bid for insolvency was postponed Tuesday, and the court will rule in the matter on February 21, a deadline by which the company may be foreclosed for debts worth more more

01.10.2012

Dairy maker Tnuva Romania, part of Israeli group Tnuva, filed for insolvency on January 6, reportedly because of piling up losses. more

01.06.2012

Bankers and insolvency firms’ agenda for the coming month includes auctions for foreclosed properties appraised at EUR36 million, reveals a ZF survey of the ads published by the top ten banks on the more

12.16.2011

About a decade ago, pastry shop chain Fornetti, the largest network of pastry kiosks in Romania (1,100) entered the local market. A week ago, the chain filed for insolvency under the pressure of loans more

12.12.2011

Romanian dairy maker Prodlacta Brasov (PRAE.RO) has entered into insolvency proceedings after a local court approved in November the request filed by the company’s legal administrators. more

11.28.2011

Companies that went insolvent in Romania by the end of October this year have a cumulated turnover of 12.7 billion lei (some EUR3 billion), compared to RON15.7 billion in the same interval of the more

11.16.2011

Romania's Trade Registry Thursday said 15,767 companies filed for insolvency in the first 10 months of 2011, down 10% from 17,484 companies in the same period a year earlier. more

11.11.2011

The bridge bank – the latest concept of financial institution to be launched on the Romanian market – is a lending institution that could appear on the market when the National Bank of Romania more

11.10.2011

In 2007, developers of the Asmita Gardens in Bucharest sold one apartment per day, although the seven towers were not finalized yet. However, in the last seven months, with the blocks finalized and more

11.09.2011

The Bucharest court on Monday approved an insolvency claim filed by Alpha Bank against the developer of Asmita Gardens, one of Bucharest’s largest residential compounds. more

11.02.2011

Several hundred companies are for sale on the Romanian market, most of them SMEs, but the number of done-deals is extremely low compared with the 2007-2008 period, when investment funds and investors more

10.18.2011

Insolvency claims by companies will continue in 2012, but judicial reorganizations will outweigh bankruptcies, Tuesday said Rudolf Paul Vizental, senior partner within liquidator Casa de Insolventa more

10.13.2011

The Asmita Gardens project in Bucharest, the most expensive residential complex built by a private investor on the local market, might go insolvent as requested by Greek lender Alpha Bank, which lent more

09.05.2011

Media group Realitatea Media, owned by businessman Elan Schwartzenberg, filed for insolvency on September 2 and the Bucharest Court will analyze the request on September 7, according to the court’ more

08.11.2011

Romania's Trade Registry Thursday said 12,703 companies filed for insolvency in the first seven months of 2011, down 4% from 13,183 companies in the same period a year earlier. more

07.13.2011

Romania's Trade Registry Wednesday said 10,979 companies filed for insolvency in the first half of 2011, down 2% from 11,221 companies in the same period a year earlier. more

07.11.2011

As many as 96% of Romanian insolvent companies end up declaring bankruptcy due to fund shortage from creditors to cover procedure costs and reduced refinancing possibilities, according to Transylvania more

07.08.2011

UniCredit Tiriac Bank has filed a petition requesting the insolvency of Avrig 35 and Avrig Asset Management, after having lent them more than EUR70 million over time for real estate projects initiated more

06.24.2011

DHL International Romania has asked the Bucharest Court to start insolvency procedures against low-cost airline Blue Air to recover some debts, and the trial will start in October. more

06.08.2011

The reorganization plan for insolvent Mexxem, owner of the Stone Creek stores, has been approved in court and will be implemented this month, Wednesday said liquidator Casa de Insolventa Transilvania, more