A team of experts in law and economics from Transylvania lay the foundation of a society of insolvency practitioners
The shareholders transform the small society of practitioners into Transylvania Insolvency House
As part of Tractorul project, the company concludes the largest and fastest liquidation proceedings in Romania, finalized with a 77-million-Euro deal endorsed by the European Commission
CITR continues to expand its portfolio and services, thus acquiring leadership of the insolvency market in Romania
This is CITR’s year of expansion; due to its success in Transylvania, CITR aims for national exposure and opens new offices, including Bucharest, Bihor, Sibiu, Brașov și Timiș.
CITR marks the first successful reorganization of a renowned retailer in Romania, Flanco; the reorganization plan was implemented in a record time, of only 6 months; it is time to reposition the business and develop reorganization services
CITR won the award Transaction of the Year – Best Turnaround Strategy for the Diverta project and the Golden Award of Excellence for educating the business environment; now the company opens a new office located in Ilfov, and also establishes sales.citr.ro – the most advanced online platform for asset sales in case of insolvency and liquidation
CITR Group is established as the only group of companies in Romania providing customized solutions for companies in economic and financial difficulty; the CITR restructuring experts establish CIT Restructuring, CIT Resources is created to address investment challenges, and Transylvania Insolvency House becomes CITR. It is opened a new office, located in Cluj.
CITR wins multiple awards: Successful Women in Insolvency Practices, Excellence in Insolvency, Award for its contribution to restoring health in the Romanian economy, Award for Excellence in the development of the profession in the Insolvency and Restructuring category and Best Business Advisory – Swan: Transaction of the Year 2016. In the same year, CITR expands by opening a new office, located in Galati.
Today, CITR accounts for: 10 subsidiaries, 20 senior managers for different areas, 120 experts, 8 teams, over 850 projects, 100% rate of approval of the reorganization plans drafted by CITR and full approval from creditors and courts of law; Insol Europe, the European organization of professionals specialized in insolvency, is chaired for the first time by a Romanian leader, between 2017 – 2018 – Radu Lotrean, co-founder of CITR. Also in 2017, CITR openes two new offices, located in Argeș and Prahova.