restitution Archives - Pavel, Margarit and Associates

From 2014 until mid-July 2018, the former owners of the nationalized houses received compensation titles amounting to almost EUR 1 billion from the National Authority for the Restitution of Properties, according to data provided by the Authority to Pavel, Margarit and Associates Romanian Law Firm. Altogether, almost 86,000 payment titles were issued in that period. The payment period for each individual file is variable. The indemnities are granted in installments. Initially, the minimum amount for a tranche was EUR 1.100. Currently the amount is EUR 4.300. "In 2014, 2015 and 2016 the payment entitlements were issued exclusively for the files approved by the Central Commission for Settlement of Damages up to 2011 and for the files approved by the National Commission for Compensation of Real Estates (CNCI) for the period 2013-2016 for whom the due amounts were established by the courts. In 2017 and 2018 the number of the beneficiaries and the amounts also contains the payment titles related to the requests made by the clearing decision holders by points issued by C.N.C.I. from 2013 until now", according to the National Authority for the Restitution of Properties. In October 2018, there were about 25,200 notifications submitted by former owners and persons entitled to restitution of real estate that have been registered with the National Authority for Restitution of Properties for over five years and have not been resolved yet. The deadline available to ANRP for the settlement of the files is 5 years from the date of the submission of the notifications. After the 5-year term, former owners can seek a court settlement, within a 6-month period. Year Number of titles Titles value (billion RON) Number of beneficiars 2018 (untill 18th of July) 18.850 1,20 21.906 2017 21.342 1,12 24.679 2016 13.529 0,55 15.679 2015 14.835 0,55 17.347 2014 17.386 0,54 20.305 TOTAL 85.942 3,98 - Source: ANRP ******* Pavel, Margarit & Associates Romanian Law Firm is one of the top law firms in Romania, which offers legal services at the highest quality, beyond clients expectations. The Law Firm approaches the cases with maximum professionalism and dedication. Its ultimate goal is obtaining exceptional results and achieving the clients objectives, in a time efficient manner. Among Pavel, Margarit & Associates clients are top multinationals and local companies. In 2018, the success stories of the Romanian Law Firm have brought recognition of the most prestigious international guides and publications. Thus, Pavel, Margarit & Associates Romanian Law Firm ranked second place in Romania in the rankings of business law firms with the most relevant expertise this year, realised by the Legal 500 publication, the most prestigious guide for law firms in the world, based in London, UK. The law firm is also recognized internationally by IFLR 1000 Financial and Corporate Guide 2018. Pavel, Margarit & Associates Romanian Law Firm is also the only law firm in Romania recommended by the Global Law Experts Director in London in the Dispute Resolution area of Practice. All the relevant information regarding Pavel, Margarit & Associates Romanian Law Firm including areas of practice and the most important deals can be found on the website www.avocatpavel.com, which is one of the most complex law firm websites in Romania.

Tag restitution

ANRP granted to former owners of a nationalized property compensation titles worth almost EUR 1 billion in the last 5 years

Former owners may sue the Romanian state for the restitution of buildings. 26,400 files unsolved by Romanian Restitution Authority on Law 10/2001. Owners may go to Court