Category: Insolvency, Restructuring and Bankruptcy

The Romanian Law Firm Pavel, Mărgărit and Associates successfully assisted a major Croatian company with global presence for over 70 years in the field of construction and infrastructure, in the insolvency moratorium procedure of a Romanian company recognized at national level in the field of construction.

The Law Firm Pavel, Mărgărit & 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 creditors, the law firm appealed the list of creditors, which was accepted by the insolvency […]

Engaging the patrimonial liability

Engaging the patrimonial liability (responsibility) of the management and supervisory bodies (directors/ administrators) of an insolvent/ bankrupt company in Romania

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 administrators, as well as any other persons who have contributed to its state of insolvency […]

conditions for engaging joint liability of the administrator

What are the conditions for engaging joint liability of the administrator/ director/ management bodies of a Romanian company?

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 part of National Authority of Fiscal Administration (ANAF). The law firm Pavel, Mărgărit and Associates […]

terminate a contract/agreement if our client enters in the insolvency procedure

Can we terminate a contract/agreement if our client enters in the insolvency procedure in Romania?

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, all ongoing contracts/agreements at the date of opening the insolvency proceedings are considered maintained, and […]

PMA Leading Firm 2021

Pavel, Margarit & Associates Romanian Law Firm was ranked in 2021 among the top law firms in Romania by the international legal guide Legal 500

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 top law firms in Romania, in the edition of one of the most representative London-based […]

Romanian companies in insolvency may prevent creditor’s abuse

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. That’s why it is recommended to insolvent company to hire a lawyer specialized in insolvency and restructuring, which can advise them to prevent abuses, says […]

First steps to be taken by a Romanian company that opened the insolvency proceedings

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 don’t follow the legal proceedings, the company may face problems that will not allow its reintegration into the economic circuit, say lawyers specialized in corporate and insolvency […]

How can a Romanian insolvent company best value its asset

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. 85/2014. A Romanian lawyer specialized in restructuring and insolvency can help a company maximize the income […]

Radu Pavel, Romanian insolvency lawyer: Key elements to help you reorganize your business and re-enter in the economic circuit the insolvent company

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 gone bankrupt. The companies either did not manage the financial resources well or they did […]