The international legal guide Legal 500 has recently published the rankings of the best law firms in Europe, the Middle East and Africa (EMEA). Pavel, Margarit & Associates Romanian Law Firm is present, for the fifth consecutive year, in the…
Banks, leasing companies or the National Agency for Tax Administration (ANAF) are often creditors of the Romanian insolvent companies. In some cases, ANAF, as well as other creditors act abusively. Thats why it is recommended to insolvent company to hire…
When a Romanian company opens the insolvency proceedings, it must notify all the creditors and evaluate the capacity of the company to restructure its business. If these measures dont follow the legal proceedings, the company may face problems that will…
Romanian companies that have opened insolvency proceedings need liquidity to continue their business. One of the methods to obtain the necessary amounts is to capitalize the assets through sale by direct negotiation method, regulated by Romanian insolvency law nr. 85…
In Romania, only a few companies manage to reorganize and restructure the activity after they have entered into the insolvency procedure. Although Romania’s economy is growing, in 2018 more than 8,000 companies have opened insolvency proceedings and many others have…
A company is insolvent if it fails to pay the debt to a creditor within 60 days of maturity. Law no. 85/2014, also called the insolvency law, imposes a value of the debt threshold for which insolvency can be claimed,…
Tens of thousands of Romanian companies are still in insolvency stage. Many companies opened the insolvency procedure due to the financial crisis and others due to management mistakes. Individuals or companies that must recover loans from an insolvent company must…
Debt recovery is still a legal matter of interest in the Romanian business environment, as many companies face financial difficulties or simply refuse to pay their debts. Tens of thousands of Romanian companies are still in insolvency, benefiting from Insolvency…
During and after crisis, more and more companies have entered into the insolvency procedure or bankruptcy procedure in front of the Romanian Insolvency Court, on different reasons. Some Romanian companies had financial instability due to the crisis, but management errors…
Many Romanian companies have to open the insolvency procedure in Romania, given the fact that, amid the financial crisis and other difficulties, they fail to pay their debts to suppliers or customers in Romania. On the Romanian business market there…
