Leading CEE leasing network UniCredit Leasing is commonly
offering grace periods of up to six months to distressed Romanian
clients, the publication Ziarul Financiar reported this week.
The Italian giant is also offering exceptional payment holidays
of up to one year to clients waiting on payment from the state,
such as construction companies working on public sector projects,
the journal revealed.
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“The longest grace period we have granted this year is a
six-month one, for a client who has problems at present, but is to
collect money from the state. Now we are analysing the cases of two
clients to whom we are thinking about granting one-year grace
periods,” commented Dan Constantinescu, executive sales manager of
UniCredit Leasing in Romania.
Despite a lack of official statistics, it is estimated that
leasing companies have repossessed more than 10,000 wheeled assets
from clients so far in 2009, with several hundred items of plant
and real estate also recovered from businesses in financial
peril.
Fred Crawley
