EC report highlights non-performing loans – Cyprus Property News Magazine

THE EUROPEAN COMMISSION has sent a warning regarding the course of debt restructuring in the Cypriot banking system, saying that efforts to restructure non-performing exposures have not yet shown tangible results. Financial institutions have stepped up their debt restructuring efforts, but the results have been mixed so far, the Commission report said, adding that the…

Abakus Solar of Germany enters prelim insolvency – SeeNews Renewables

Solar system. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic. April 8 (SeeNews) – Christoph Niering has been appointed as preliminary insolvency administrator for German company Abakus Solar AG and its operation and maintenance (O&M) unit Abakus Solar Service GmbH. The company applied in the court of Essen for the start of…

State aid: Commission opens in-depth investigation into support for Romanian petrochemical company Oltchim – New Europe

Author: European Commission. The following press release was issued by the European Commission on April 8, 2016 11:45 am. Commissioner Margrethe Vestager, in charge of competition policy, stated: Following the economic difficulties of Oltchim and the cancellation of public debts owed by the company, we need to verify whether a private creditor would have…