Romanian legislation provides for a number of principles applicable to companies at insolvency risk in Romania. Thus, by means of the insolvency procedure in Romania, debtors are provided with a chance to recover the business efficiently, through the debtor’s effective…
According to Law 31/1990, companies can cease their existence by several ways, among which we mention the procedure of dissolution and liquidation in Romania, the expiry of the period for which the company was established, the bankruptcy of the company…
According to Romanian Law no. 85/2014, insolvency is a process by which a company does not have the payment means to pay certain, liquid and exigible debts in Romania. This situation can be solved by involving all creditors in the…
Pavel Margarit and Associates Romanian Law Firm successfully assisted a major Polish producer of household appliances to registration as a creditor following the opening of the insolvency proceedings in Romania against a Romanian Company which object of activity is retail…
The preventive agreement concluded with creditors in Romania consists of a contract between the debtor and the creditors by which the creditors requirements are met, with personal and patrimonial implications, being carried out instead of the bankruptcy proceedings. The preventive…
The Law Firm Pavel, Margarit & Associates, specialized in commercial litigation and insolvency, successfully assisted and represented a Croatian construction company in the insolvency moratorium procedure in Romania. Given that the company was not mentioned in the list of unsecured…
According to the provisions of the Romanian Insolvency Law no. 85/2014, the persons that are responsible for the insolvency/ bankruptcy of the legal person are the members of the management and / or supervisory bodies of the company, directors or…
The procedure for opening the insolvency proceedings against a debtor is regulated by the provisions of the Romanian Insolvency Law no. 85 There are many situations when a creditor has made such a request in bad faith only to force…
Excutive summary: One of the problems that the administrators/directors or the management bodies of a Romanian company may face is engaging joint liability for the outstanding payment obligations of the debtor company declared insolvent by tax inspection bodies which are…
Executive summary: The termination of the ongoing contract/agreement at the date of the opening of the insolvency proceedings shall be of interest to each contracting party, whether creditor or debtor, professional bodies or not. Thus, according to the insolvency law,…
