Arădeanca goes bankrupt -
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News » March, 2013 » 29 March 2013

Arădeanca goes bankrupt
29.03.2013, 00:00 | Business | 1392 views

"Arădeanca" Arad, the biggest doll maker in Romania, which had a 60% market share, entered bankruptcy after the reorganization plan was rejected by the creditors. According to Ioan Biriş, the representative of Activ Grup IPURL, which was appointed as a temporary liquidator, the creditors are not required to justify their vote against the reorganization plan.

"The reorganization plan has not been approved by the creditors. They've taken their vote but we can't explain why they have voted one way or another. Thus, the company has entered bankruptcy, which means that the procedure applicable in such cases will be followed, an inventory of the assets will be made, some will be reassessed and then their sale will proceed, together with the collection of the debts", said Ioan Biriş.


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