Banca Romaneasca, Piraeus Bank, Bancpost and Banca Transilvania need to ponder how they will recoup the loans granted to Impact, while Templeton, Julius Baer, and East Capital have to wait for the reorganisation plan before they can hope to sell their shares in the company.
The insolvency of real estate developer Impact Developer & Contractor (IMP), over a 1.36 million-RON debt to construction company Romconstruct in Ploiesti, is threatening to damage the company's relationship with its financing banks, with four lenders having an overall exposure in excess of 33 million euros on Impact at the end of last year.
Under the legislation, an insolvent company is supposed to come up with a reorganisation plan. If the creditors do not approve the proposed plan, a solution of last resort is to sell the company's assets to recover the debt. Impact's insolvency affects its shareholders even more, after shares were suspended from trading following a court ruling.
Banca Romaneasca, Piraeus Bank, Bancpost and Banca Transilvania need to ponder how they will recoup the loans granted to Impact, while Templeton, Julius Baer, and East Capital have to wait for the reorganisation plan before they can hope to sell their shares in the company.
The insolvency of real estate developer Impact Developer & Contractor (IMP), over a 1.36 million-RON debt to construction company Romconstruct in Ploiesti, is threatening to damage the company's relationship with its financing banks, with four lenders having an overall exposure in excess of 33 million euros on Impact at the end of last year.
Under the legislation, an insolvent company is supposed to come up with a reorganisation plan. If the creditors do not approve the proposed plan, a solution of last resort is to sell the company's assets to recover the debt. Impact's insolvency affects its shareholders even mo