The latest report of Casa de Insolventa Transilvania states that the trend of insolvencies is to maintain in 2014, on a background of a more mature market with restructuring operations performed also in the absence if declared insolvency by the companies, according to thediplomat.ro.The worrying trend targets the companies with over EUR 1 million turnover and 50 employees, according to Rudolf Vizental, managing partner Casa de Insolventa Transilvania. According to the manager, this category states an increasing number of insolvent companies and the trend is to continue due to several factors such as: low demand, lack of financing and the absence of Governmental programs. However, Vizental considers that the insolvency market starts to show signs of maturity and the restructuring trend is to be observed in some cases in companies that are not declared insolvent.
CITR holds a portfolio of 350 insolvency files with total debts of EUR 2.2 billion and assets worth EUR 500 million. According to Vizental, 2013 was not a good year for assets transactions but an increasing purchase appetite was observed in acquisition of agriculture lands, transactions with commercial spaces located in center and the acquisition of construction and agriculture equipments and machinery.
