Creditors file claims worth 1.8 billion euros against bankrupt Romanian insurer City

So far, about 1,600 creditors of the bankrupt Romanian insurer City Insurance, a former market leader with a market share of 43%, have filed recovery claims totaling 9 billion RON (1 8 billion EUR), according to the information provided by the representatives of the CITR, liquidator of the insurer.

Creditors are called for the first meeting on May 6 Financial Ziarul announcement.

The main creditors are the Guarantee Fund for Policyholders (FGA) with more than 2 billion RON, the public road company CNAIR (1.6 billion RON), other insurers (700 million RON) and the agency collection of ANAF taxes (93 million RON).

“After this process of analyzing the impact of the bankruptcy of City Insurance, it is clear that we are dealing with the most complex bankruptcy of a Romanian company. The total exposure of approximately 1,600 creditors amounts to more than 9 billion RON. We will complete and present to the creditors the first conclusions regarding the causes and circumstances that led to the bankruptcy of the company. We will also proceed to the stage of the valuation of the assets of the company. insurer, and we will continue debt collection procedures,” Paul Dieter Cîrlănaru, CEO of CITR, said.

(Photo: Kittichai Boonpong / Dreamstime)

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