Romanian insolvency administrator Casa de Insolventa Transilvania (CITR) recorded a turnover of EUR 7.6 million in 2013, up 16 percent compared to the previous year, and has distributed over EUR 62 million to the creditors, reads a statement of the company, according to Romania-Insider.com.Last year, CITR added 109 new procedures to its portfolio and 49 procedures were concluded. In early-2014, CITR’s portfolio includes some 370 procedures, according to the company.
In the managed procedures, the insolvency administrator handles over 10,000 employees and assets worth around EUR 500 million, according to Andrei Cionca, founding associate of Casa de Insolventa Transilvania.
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