Profile picture for user irina.popescu0
Irina Marica
Senior Editor

Irina holds a BA in Journalism and has been part of the Romania-Insider.com team since its early days in 2011. She likes to keep the Romania-insider.com readers informed every day. Irina reports on various topics, on a wide range of areas such as politics, social or entertainment. She also writes travel or leisure articles, as well as interviews. She splits her time between Sinaia, her hometown, and Bucharest. Being born and raised in a mountain town, Irina loves spending time in nature, but she also likes to read, write, listen to music, travel, teach her dog new tricks and listen to other people’s stories (so don’t hesitate to contact her for an interview if you have an interesting story that you want to share with the Romania-insider.com readers). She dreams to visit Iceland one day and maybe get to see the Arctic Monkeys play live.  You can send her press releases or feedback on her stories by emailing irina.marica@romania-insider.com.

 

One of Bucharest’s top football clubs goes bankrupt

Rapid, one of Bucharest’s top football clubs, has been declared bankrupt through a decision of the Bucharest Court, reports local Prosport. This means that the company that owns the club should be dissolved and its assets sold to repay its debts to creditors.

The football club has RON 18 million (some EUR 4 million) debts, more than half of which represents unpaid taxes.

The court’s decision is not final, however, and can be appealed in 10 days. Rapid's representatives said the club would attack the sentence and continue its activity. The club has recently promoted to Romania’s first league after playing in the second league in the 2015-2016 season. However, if the bankruptcy remains final and the company will be dissolved, then Rapid may disappear from the local football league after more than 90 years.

Rapid Bucharest was founded in 1923 and is currently owned by Moldovan investor Valeri Moraru, who also has financial problems of his own. Marfin Bank is currently trying to recover a loan granted to Moraru in 2008 by selling a 27% stake he owns at Rapid Bucharest, according to local Profit.ro. The bank is currently looking to get some EUR 130,000 for the shares, which may be difficult given Rapid's financial situation.

Rapid has won the Romanian football league three times and the Romanian Cup on thirteen occasions. It has also won four Supercups and one League Cup. At an international level, the Romanian team reached the UEFA Cup quarterfinals in 2006.

Earlier this year, Rapid filed a request with the Financial Supervisory Authority (ASF) to approve its listing on the Bucharest Stock Exchange (BVB).

Irina Popescu, irina.popescu@romania-insider.com

(Photo source: Rapid Bucuresti on Facebook)

Normal
Profile picture for user irina.popescu0
Irina Marica
Senior Editor

Irina holds a BA in Journalism and has been part of the Romania-Insider.com team since its early days in 2011. She likes to keep the Romania-insider.com readers informed every day. Irina reports on various topics, on a wide range of areas such as politics, social or entertainment. She also writes travel or leisure articles, as well as interviews. She splits her time between Sinaia, her hometown, and Bucharest. Being born and raised in a mountain town, Irina loves spending time in nature, but she also likes to read, write, listen to music, travel, teach her dog new tricks and listen to other people’s stories (so don’t hesitate to contact her for an interview if you have an interesting story that you want to share with the Romania-insider.com readers). She dreams to visit Iceland one day and maybe get to see the Arctic Monkeys play live.  You can send her press releases or feedback on her stories by emailing irina.marica@romania-insider.com.

 

One of Bucharest’s top football clubs goes bankrupt

Rapid, one of Bucharest’s top football clubs, has been declared bankrupt through a decision of the Bucharest Court, reports local Prosport. This means that the company that owns the club should be dissolved and its assets sold to repay its debts to creditors.

The football club has RON 18 million (some EUR 4 million) debts, more than half of which represents unpaid taxes.

The court’s decision is not final, however, and can be appealed in 10 days. Rapid's representatives said the club would attack the sentence and continue its activity. The club has recently promoted to Romania’s first league after playing in the second league in the 2015-2016 season. However, if the bankruptcy remains final and the company will be dissolved, then Rapid may disappear from the local football league after more than 90 years.

Rapid Bucharest was founded in 1923 and is currently owned by Moldovan investor Valeri Moraru, who also has financial problems of his own. Marfin Bank is currently trying to recover a loan granted to Moraru in 2008 by selling a 27% stake he owns at Rapid Bucharest, according to local Profit.ro. The bank is currently looking to get some EUR 130,000 for the shares, which may be difficult given Rapid's financial situation.

Rapid has won the Romanian football league three times and the Romanian Cup on thirteen occasions. It has also won four Supercups and one League Cup. At an international level, the Romanian team reached the UEFA Cup quarterfinals in 2006.

Earlier this year, Rapid filed a request with the Financial Supervisory Authority (ASF) to approve its listing on the Bucharest Stock Exchange (BVB).

Irina Popescu, irina.popescu@romania-insider.com

(Photo source: Rapid Bucuresti on Facebook)

Normal
 

facebooktwitterlinkedin

1

Romania Insider Free Newsletters