Tractorul liquidator is top local market player

Some 70 percent of that figure, approximately €5 million, comes from liquidation operations for former agricultural vehicle producer Tractorul Brasov.

The local liquidation market is estimated to be worth some €27-30 mln, and includes CITR, followed by Pro Insolv (€1.5 mln in turnover), and BNP Consult (with turnover worth €1.4 mln).

Tractorul was sold to local Flavus Investment SRL for some €91.9 mln, including VAT, following an open tender.

The European Commission (EC) carried out an investigation of the Tractorul platform sale, based on suspicion of state aid granted to the buyer. However, the EC concluded earlier this week that the sale by CITR, employed by former owner, the Authority for State Assets Recovery (AVAS), to liquidate all assets of Tractorul Brasov, yielded the highest possible price.