The volume of claims against bankrupt Estonian state-owned airline Nordica has risen sharply since bankruptcy was declared last fall, reaching €85 million, News.err.ee reported. Most of Nordica's assets consist of a claim against its subsidiary, Regional Jet. When the Harju County Court declared Nordic Aviation Group bankrupt at the end of January, claims were initially estimated at €34 million. By the end of March—the deadline for submitting claims — that figure had more than doubled.
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Restart Energy One, a Romanian provider of renewable energy solutions with two bond issues listed at the Bucharest Exchange, announced in a note to investors that it is entering into a preventive arrangement to avoid insolvency, Romania-Insider.com reported. Its bonds were recently temporarily suspended from trading amid an investigation conducted by prosecutors involving the company's founder, Profit.ro reported. As of April 22, both bonds are again traded at the Bucharest Stock Exchange.
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Greece’s prime minister on Tuesday announced 1 billion euros ($1.15 billion) in financial benefits for lower-income households and the public investment program, after the country became one of the few European Union members to post a budget surplus in 2024. Only six of the EU’s 27 member nations posted a surplus for 2024, figures released by Eurostat showed.
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The Russian central bank will keep its benchmark rate on hold at 21% at a board meeting on April 25, all 25 analysts who took part in a Reuters poll predicted on Monday, as global economic turbulence adds to concerns about the state of the Russian economy. The government maintained its growth estimate for 2025 at 2.5%, a new set of forecasts showed on Monday. The government said it does not see a big risk of a global recession, but cut its estimate for the price of oil, Russia's main export, by 17%.
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The Icelandic Film School is set for a fresh start under new leadership, as Rafmennt — the educational center of the Electrical Industry — has officially taken over its operations following the school’s bankruptcy in March, the Iceland Monitor reported. However, students will have to bid farewell to the school's longtime premises on Suðurlandsbraut. In a statement issued Wednesday, Rafmennt confirmed that it has purchased the school's name, trademark, equipment, and other assets from the bankruptcy estate.
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The “La Placnte” restaurant chain, which now consists of four units based in Bucharest, went into insolvency in Romania, at its own request. In 2023, which is the last reported year, the chain had debts totaling almost 10 million lei, IPN.md reported. The company argued that it cannot clear in due time this debts due to the insufficiency of funds, shows the document analyzed by Profit.ro, quoted by IPN. In 2023, the company had a turnover of 15.1 million lei and losses of 1.3 million lei. The number of employees decreased from 86 to 47 people.
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Fisker filed for bankruptcy, leaving Ocean owners high and dry. However, Fisker dealers were in an even worse situation. In England, a Fisker dealer was forced to abandon the Ocean SUVs on the side of a road, Autospies.com reported. Several days later, an auction house collected them and will auction them off alongside other abandoned Fisker Oceans. However, it's unclear who'd want them. Fisker filed for bankruptcy in the U.S. last June, leaving owners holding the bag. While creditors and founders will see some of their money back, owners will not have the same luck.
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Britain’s biggest pub company saw its financing costs surge by 50pc to almost £500m last year, as high interest rates put pressure on the debt-laden business, The Telegraph reported. Stonegate Pub Company, best known as the owner of the Slug & Lettuce and Be At One chains, suffered a £214m loss for the year to October 2024 after the cost of servicing its debt pile rose from £301m to £455m. Debt costs grew far faster than sales across its almost 4,500 pubs. Takings increased by just £28m to £1.74bn over the year, recently published filings show.
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The European Central Bank cut interest rates Thursday for the seventh time to counter worries about economic growth fueled by President Donald Trump’s tariff onslaught, the Associated Press reported. The bank’s move should support economic activity in the 20 countries that use the euro currency by making credit more affordable for consumers and businesses.
Falling petrol prices drove U.K. inflation down by more than expected in the year to March, the BBC reported. Inflation was 2.6%, down from a rate of 2.8% in February, according to official data. But the fall may only be temporary as analysts say it's expected to spike from April as rising bills and higher business costs take hold. "The only significant offset came from the price of clothes which rose strongly this month," said Grant Fitzner, chief economist at the Office for National Statistics (ONS).