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 practitioner named in insolvency moratorium procedure, and the company’s certain, liquid and due debt was registered in the list of creditors. The Romanian insolvency moratorium procedure promoted by the debtor company was managed by a well-known Romanian insolvency practitioner in order to manage the procedure.
The scope of the insolvency moratorium procedure in Romania is to afford the debtor’s company to get the possibility to obtain time from creditors in order to prepare a plan for restructuration in Romania. The pre moratorium debts or moratorium debts in Romania are taken into consideration only if registered by the insolvency practitioner in the list of creditors in Romania.
“We have experience in insolvency moratorium procedure in Romania, as well as in Insolvency, Restructuring and Bankruptcy in many industries, and we are happy to be recognized on the third place in Romania by the Legal 500, UK, London in the Insolvency and Restructuring area of practice in Romania.”, said Radu Pavel, the Managing Partner of Pavel, Mărgărit & Associates Romanian Law Firm.
The legal assistance consisted in the analysis of the documents attesting the fact that the creditor company represented by the Romanian Law Firm Pavel, Mărgărit and Associates has a certain, liquid and due debt, this having supporting documents proving the amount of the requested debt. Although the creditor company was included in the debtor’s accounts with that debt, the debtor in bad faith failed to submit to the insolvency practitioner the documents relating to its claim to be registered in the list of creditors. Therefore, Pavel, Mărgărit and Associates Romanian Law Firm promoted the appeal against the list of creditors, this being admitted, increasing the chances for the creditor to recover the debt in Romania.
The Romanian Law Firm Pavel, Mărgărit & Associates recommends using a lawyer specialized in the insolvency moratorium procedure in Romania to analyze the opportunity to use any legal remedy to obtain the registration of claims in the list of creditors and to recover the debt from an insolvent company in Romania.
Pavel, Margarit and Associates Romanian Law Firm is one of the top law firms in Romania, offering top legal advice. The Romanian law firm’s clients are foreign and top local companies and high worth individuals. In 2022, the success stories of the Romanian Law Firm have brought recognition from the most prestigious international guides and publications. The firm was ranked third place in Romania by the Legal 500 publication. The Romanian law firm is also recognized by IFLR 1000 Financial and Corporate Guide 2022. 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 can be found on the website www.avocatpavel.ro.