Category: Insolvency, Restructuring and Bankruptcy

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Articles, Corporate Commercial and M&A, Dispute Resolution, Insolvency, Restructuring and Bankruptcy

Five ways a director (administrator) could be held personally liable in Romania – civil, criminal, debts, removal/dismissal or in case of insolvency

The Romanian legislation provides a series of rules and obligations on the Romanian administrator regarding the conduct of his activity. According to the legislation in force, in Romania, the directors (called administrators in Romania) are personally responsible and liable for the damages caused. On the other hand, the administrator will be personally and jointly and […]

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By : Aug 25, 2023 Comments Off on Five ways a director (administrator) could be held personally liable in Romania – civil, criminal, debts, removal/dismissal or in case of insolvency
Insolvency, Restructuring and Bankruptcy, News

The Romanian Law Firm Pavel, Mărgărit and Associates assisted an important company in the field of design and execution of electric and gas installations in order to conclude agreements with insolvent companies in Romania

The Romanian Law Firm Pavel, Mărgărit and Associates assisted an important Romanian company in the field of design and execution of electric and gas installations in order to analyze the risks in regards to concluding agreements with insolvent companies in Romania. A lawyer specialized in insolvency, restructuring and bankruptcy in Romania can provide you with […]

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By : Jul 10, 2023 Comments Off on The Romanian Law Firm Pavel, Mărgărit and Associates assisted an important company in the field of design and execution of electric and gas installations in order to conclude agreements with insolvent companies in Romania
Articles, Insolvency, Restructuring and Bankruptcy

How can you assess the risks before opening the insolvency procedure for a company in Romania?

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 access to early warning means, through insolvency prevention procedures or through the judicial reorganization procedure. […]

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By : Jun 16, 2023 Comments Off on How can you assess the risks before opening the insolvency procedure for a company in Romania?
Articles, Insolvency, Restructuring and Bankruptcy

What is the procedure of dissolution/liqudation of a company in Romania?

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 in Romania. The Romanian Law firm Pavel, Margarit and Associates recommends contacting a lawyer specialized […]

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By : Jun 15, 2023 Comments Off on What is the procedure of dissolution/liqudation of a company in Romania?
Articles, Insolvency, Restructuring and Bankruptcy

Why an insolvent company shall hire a lawyer?

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 process and by carrying out the  procedures provided by the law. Therefore, the company may […]

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By : Feb 10, 2023 Comments Off on Why an insolvent company shall hire a lawyer?
Insolvency, Restructuring and Bankruptcy, News

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 the retail sale via mail order or via Internet

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 sale via mail order or via Internet in Romania. Pavel Margarit and Associates Romanian Law […]

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By : Nov 4, 2022 Comments Off on 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 the retail sale via mail order or via Internet
Articles, Corporate Commercial and M&A, Insolvency, Restructuring and Bankruptcy

How to start the agreement with creditors procedure in Romania?

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 agreement with creditors in Romania consists of financial recovery measures. The Romanian Law Firm Pavel, […]

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By : Sep 23, 2022 Comments Off on How to start the agreement with creditors procedure in Romania?
Articles, Insolvency, Restructuring and Bankruptcy, News

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

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By : Jun 20, 2022 Comments Off on The Romanian Law Firm Pavel, Margarit 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.
Engaging the patrimonial liability
Articles, Insolvency, Restructuring and Bankruptcy

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 […]

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By : Apr 22, 2022 Comments Off on Engaging the patrimonial liability (responsibility) of the management and supervisory bodies (directors/ administrators) of an insolvent/ bankrupt company in Romania
insolvency
Articles, Insolvency, Restructuring and Bankruptcy

How can a request for opening the insolvency proceeding in Romania be rejected when it is made by the creditor to force the debtor to pay the debt?

The procedure for opening the insolvency proceedings against a debtor is regulated by the provisions of the Romanian Insolvency Law no. 85/2014. There are many situations when a creditor has made such a request in bad faith only to force his debtor to pay him a debt that is not recognized. However, it should be […]

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By : Mar 14, 2022 Comments Off on How can a request for opening the insolvency proceeding in Romania be rejected when it is made by the creditor to force the debtor to pay the debt?