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Bucharest
January 23, 2022
BUSINESS

CEC Bank fears insolvencies

Creditors are afraid of companies going insolvent, despite the guaranteed loan, given the lengthy proceedings, with the chance to maximize the recovered guarantees being reduced, Mirela Iovu, Vice-president CEC Bank told a relevant conference, Mediafax reports. While she admits to situation wherein creditors reach common ground with the debtor over judicial reorganization, the relevant professionals are few. Referring to the insolvency law, Iovu said that, while balanced, it needs to get improved and clarified nonetheless given instances when some of the articles are enforced abusively and wrongly.

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