The assets of the 166 insolvent companies included in theportfolio of Casa de Insolvenţă Transilvania (TransylvaniaInsolvency Firm-CITR) do not cover even half of their debts, sothat banks and suppliers are likely to lose almost 500m euros inthe following years, either in the wake of these companies'reorganisation or liquidation.
CITR representatives, holding in the portfolio a series of thebiggest domestic companies that went insolvent, calculated thecompanies they manage hold debts of 800m euros, while the value oftheir assets is put at 350m euros, but at present it is hard tobelieve that even this sum could be raised, if all assets were putup for sale.
As the firm has lately centred more on reorganisations thanbankruptcies, in the following period the focus will be on thedistribution of significant sums to lenders, but the sums will onlycover a small part of receivables.
Small unsecured lenders have voiced rising discontent lately asin the wake of reorganisation they may end up not recouping anymoney.
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