Insolvency proceedings drop by 29% in Romania

The number of insolvency proceedings opened last year fell by 29.4% to 21,367, compared to 30,282 in 2013. Some 8,400 of these were general insolvency proceedings, whereas 21,880 were particular insolvency proceedings, according to Valentina Burdescu, director of the National Trade Register Office, cited by local Agerpres. Of the 21,367 insolvency proceedings from 2014, 6,902 were general insolvencies, and 14,465, specific insolvency proceedings. Companies in the pharma, transport, constructions and real estate sectors are most prone to insolvency this year, according to Romanian insolvency firm CITR. editor@romania-insider.com