Casa de Insolventa Transilvania will change its name and visual identity CITR, part of CITR group, according to the shareholders’ decision.
“CITR Group will be born with the CITR rebranding and after the launch of CIT Restructuring, the first group of companies in Romania that will focus solely on providing solutions for other companies in financial difficulty, regarding of the stage. CIT Resources, a special vehicle for investments, will also be part of CITR Group, along with CITR and CIT Restructuring” according to the press release.
Andrei Cionca will coordinate the group as executive director and the three companies will act independent of one another. Cionca will also manage CIT Resources. The group intends to invest in the companies included in its portfolio through CIT Resources, given that banks in general are wary of granting loans to insolvent firms.
CITR will be managed by a council made up of Andrei Cionca, Andreea Cionca-Anghelof and Vasile Godîncă-Herlea. CIT Restructuring will be led by xecutive director Rudolf Vizental.