bankruptcy

Bucharest Court of Appeal has decided in a final ruling on Monday to approve the bankruptcy of the Autonomous Administration for Thermal Energy Distribution (RADET). This ruling has been initially given in a first court by the Bucharest…

Artists and actors will stage a protest rally on Sunday, in front of the Government offices, as of 18.00h, the event being announced by a group including artists Maria Obretin, Vitalie Bichir, István Téglás and dancers Ioana Marchidan and…

Bucharest City Hall wants to cut RON 600 million from its budget, meaning around 10 per cent, due to low incomes from the tax rates for the first 5 months of this year, says a draft resolution. The main cuts will affect the budgets of…

The Association of Cities in Romania (AOR) has sent PM Viorica Dancila an open letter on the local budgets on Friday, warning that the 2019 budget has been "wrongly designed" and certain localities are on the verge of bankruptcy.…

General councilor Ana Ciceala accused on Tuesday that, although Capital mayor Gabriela Firea claims the Bucharest City Hall is going bankrupt, the municipality is kicking off procedures to host a folklore festival which costs RON 1.4…

Bucharest Court of Appeal has ordered on Monday to reject the restructuring plan advanced by Realitatea Media and sent the file to a bankruptcy judge in the view of declaring bankruptcy. The court’s ruling is irrevocable. In retort,…

As of Sunday, July 1, travellers booking package holidays enjoy stronger consumer rights, the new European Union rules read. Not only will traditional package holidays be covered, the new rules will also protect consumers who book other…

Kubo Ice Cream, one of the largest ice-cream producers on the local market, producer of ‘Amicii’ brand, has gone bankrupt two years after filing for insolvency, ‘Ziarul financiar’ informs. The Neamt Court ruling reads “the bankruptcy…

Tel Drum, the company allegedly controlled by the ruling Social Democratic Party chairman Liviu Dragnea, has submitted documents in court asking for the bankruptcy procedure. A file in this respect has been registered at Teleorman Court on…

Of the total of 583,170 employers, 157,798 have debts of RON 15.99 billion (approx. EUR 3.44 billion) to the account of mandatory social contributions for pensions, health and unemployment, according to fiscal statements, tax decisions and…