Fewer insolvency requests expected this year in Romania

The number of insolvency requests in Romania will continue to drop this year, after it started to decrease in January and February, according to Andrei Cionca of the Casa de Insolventa Transilvania. “The number of insolvency procedures in the first two months of this year went down by 20 percent, compared to the same period of 2010. For this year, I estimate the requests for insolvency will continue on this trend, down 20 percent,” according to Cionca. After two years of crisis, the companies which were in trouble have either ceased activity or managed to restructure their activity. Only 4 percent of the companies in insolvency in Romania are also under a reorganization process – some 900 companies in total. editor@romania-insider.com