Archive » September 2009 » 09 September 2009 The english news from 09 September 2009
Bankruptcy: One way of escaping creditors
Some businesspeople on the local market are currently resorting to a less orthodox method of escaping major debts they have to some business partners. Before initiating insolvency which automatically leads to bankruptcy procedure, they are establishing new companies, most often in the names of others, to which they transfer their major contracts (strategic suppliers and clients), and a portion of the assets…
Tiriac maintains his conservative predictions for Romania's rebound
Ion Tiriac, one of the richest Romanians, with business in real estate, auto and financial services, does not expect Romania's economy to bounce back from the crisis than the end of 2010, after a very difficult year for the population and companies, with medium-sized companies most sheltered from bankruptcy, as they are less dependent on bank financing…
Craiova car plant enters the Ford era
For the time being, the Craiova-based plant will only make this model, Transit Connect, but in the future it will also put in production an undisclosed model of small vehicle. "The new small car - which is not the Fiesta or the Ka - is scheduled to go into production in the near future," John Fleming announced. 30,000 vehicles at most in 2010 and no hiring until 2011…
Romanian BCR Restructures Loans For 2,500 Late Payers
Romania's largest lender Banca Comerciala Romana, or BCR, restructured loans for just 2,500 individuals, although it has contacted around 90,000 customers in this respect, Tuesday said Stefan Coroianu, head of the bank' s retail loans division. Most of the restructurings aimed mortgage loans taken by individuals who were not late before the crisis started in October-November last year, Coroianu said…