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Articles - insolvency

One of the biggest cable producers in Romania enters insolvency

Romanian cable producer Romcab Targu Mures, a company with a turnover of RON 1 billion (EUR 221 million) in 2016, officially entered insolvency as the Mures Court approved the company’s insolvency request on Monday, February 21. The company has over EUR 200 million worth of debts to banks, state, and suppliers.

Cefin Industrial Park in Arad put on sale for EUR 26 mln debts

The industrial park built in Arad (western Romania) in 2011 by Italian group Cefin has been put up for sale through direct negotiation by the legal administrator of the real estate developer which went insolvent in 2013 for debts of 114 million lei (EUR 26 million), mostly owed to Volksbank, writes Mediafax.

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