Any company in Romania is established to carry out economic activity in Romania, but when it fails to meet its commercial commitments, certain legal procedures may intervene aimed at the recovery of economic activity in Romania or the immediate liquidation…
The insolvency procedure in Romania and the procedure for filing bankruptcy in Romania can be initiated following a request filed to the Court by a debtor in Romania, one or more insolvency creditors, or by individuals or institutions expressly provided…
The insolvency procedure in Romania can be initiated as a result of a request filed to the Court by a debtor in Romania, one or more creditors in Romania, or by individuals or institutions expressly provided by law. According to…
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 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…
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…
