Stelian Garofil, Deputy Managing Partner at Dragne & Asociatii, was quoted by Daily Business on the subject of insolvency trends and how fraudulent insolvencies are used by debtors to avoid paying their creditors.
Stelian Garofil stated that fraudulent insolvencies are not a mass phenomenon, but rather, the large number of insolvency cases that have emerged in the last three years is due to the economic conditions that have affected businesses, and especially industries like real estate and constructions. He has also commented on the measures that the Romanian government could use to diminish the effects of insolvencies on the economy.
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