Important company of Romania’s richest man has become insolvent

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InterAgro SRL Zimnicea, the company through which businessman Ioan Niculae, Romania’s richest man in 2015, has controlled his businesses in agriculture, industry and tourism, became insolvent as of February 2nd, 2016.

Teleorman Court upheld a request to this effect of several creditors.

InterAgro Zimnicea is the most important company of the group controlled by Niculae, which is also a shareholder in several chemical plants, many of them are now insolvent and closed.

Last year, businessman Ioan Niculae was sentenced to two years and six months in jail, executory sentence, in the file “bribe for PSD”, in which George Stanciu Bunea, the former leader of PSD, was sentenced to three years in prison.

According to Forbes in 2015, Ioan Niculae, owner InterAgro Group, was the richest Romanian, with an estimated wealth of USD 1.1 billion.

In 2014, InterAgro Group posted a turnover of RON 1.4 billion and losses of RON 160 million.

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