Insolvent companies' lenders can lose over 50% of their sums - financiare.ro
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News » March, 2011 » 3 March 2011

Insolvent companies' lenders can lose over 50% of their sums
03.03.2011, 09:15 | Finance-Banks | 489 views



The assets of the 166 insolvent companies included in the portfolio of Casa de Insolvenţă Transilvania (Transylvania Insolvency Firm-CITR) do not cover even half of their debts, so that banks and suppliers are likely to lose almost 500m euros in the following years, either in the wake of these companies' reorganisation or liquidation.

CITR representatives, holding in the portfolio a series of the biggest domestic companies that went insolvent, calculated the companies they manage hold debts of 800m euros, while the value of their assets is put at 350m euros, but at present it is hard to believe that even this sum could be raised, if all assets were put up for sale.

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