The Law Firm has an experience of over 13 years in the Restructuring and insolvency field. Our Restructuring and insolvency department provides services at the highest standards and has expertise both in advising companies in the insolvency procedure and in restructuring and the continuation of distressed companies. Also, the firm’s services include pre-insolvency restructuring advice.

Our specialized team of lawyers works closely with our clients to craft proper legal solutions according to their business objectives, in all of our complex insolvency cases.
We strive to understand their industries, operations and goals, complementing them with our top-level knowledge of the insolvency law and market. We dedicate ourselves to help our clients with the adoption and implementation of the most effective solutions and sophisticated strategies so we can protect their interests, to the best of our knowledge and abilities.

Our clients include secured and unsecured creditors, debtors, lessors, equity interests, committees representing creditors or equity holders, trustees, prospective acquirers of businesses or assets. Furthermore, we represent nearly every sector of the economy, including manufacturing, real estate, retail, transportation, and utilities.


Legal 500 ranked Pavel, Mărgărit & Associates Romanian Law Firm on second place in Romania in Restructuring and insolvency practice area for three years in a row.

“Pavel, Margarit & Associates’ team is united, smart and supportive. It has a particular strength in industrial-related insolvency work, often advising insolvent companies. Radu-Catalin Pavel advised an iron and steel producer on its successful rehabilitation.”

Legal 500, 2017 edition

“Pavel, Margarit & Associates Romanian Law Firm has a strong technical legal background and excellent judgement. The firm provides ingenious solutions to industrial-related insolvency mandates. Radu-Catalin Pavel has a winning attitude.”

Legal 500, 2018

“Pavel, Margarit & Associates Romanian Law Firm is one of the most experienced law firms in restructuring and insolvency. The experience’ and responsive practice head Radu-Catalin Pavel understands the client’s needs. The team renders pre-insolvency restructuring advice, advises companies through the insolvency or restructuring procedures as well as on the continuation of distressed companies.”

Legal 500, 2019 edition


∎ Advising clients seeking to restructure, foreclose, liquidate, sell and buy debts,
∎ Representing and advising clients during the observation, reorganization and bankruptcy procedures,
∎ Conferring with our clients on alternatives to litigation of non performing credit facilities and structured finance transactions,
∎ Negotiating and documenting complex loan modifications, extensions, restructurings, discounting pay – offs and sales of participation interests,
∎ Due – diligence regarding the imposed documentation for the granting of loan facilities,
∎ Drafting and reviewing transaction documents and pleadings in the bankruptcy proceedings such as: court orders, approving the sale,
∎ Assisting the bidder at an action sale,
∎ Advising creditors seeking to enforce their rights in bankruptcy proceedings,
∎ Helping creditors file and recover their claims in the bankruptcy proceedings,
∎ Drafting and reviewing plans for reorganization,
∎ Filing proofs of claim for diversified creditors,
∎ Guiding our clients through bankruptcy planning,
∎ Resolving avoidance claims through mediation,
∎ Defending former directors and administrators of companies in bankruptcy against allegations of negligence or fraud.



Advised a real estate developer and private equity investor regarding the effects of opening the insolvency and bankruptcy proceedings against a debtor who developed a residential project.

Advised a major Romanian real estate developer throughout all the stages of the insolvency procedure: the observation stage, the proposal of the reorganization plan and the bankruptcy proceedings.

Advised a major iron and steel manufacturer against which a creditor filed a request for the opening of the insolvency procedure. Drafted the contestation against the claim and the statement of defence, as well as probation notes in order to prove the debt was not overdue.

Advised a top Romanian construction and infrastructure company in its bankruptcy proceedings. Initiated the simplified bankruptcy procedure, kept in touch with the liquidator, supervised the entire procedure.

Advised a top Romanian manufacturer in the insolvency proceedings. Drafted the reorganisation plan. Negotiated with the creditors in order to succeed in obtaining the reduction of the claims, creditor’s vote of the restructuring plan and its correct implementation.

Advised an insolvent company in a transaction with a leasing company for an unsettled claim that was not cut off during the insolvency period. Assisted and represented the Client during the negotiation and secured the cessation of the forced execution.

Adviced a top Romanian manufacturer against which a creditor, a Romanian Bank, requested the opening of the insolvency procedure. Obtained a suspension of the ruling for the opening of the insolvency procedure.

Advised a top Romanian company activating in the field of telecommunications as a debtor in an insolvency file, in order to clear the company with the Trade Registry. Initiated the simplified bankruptcy procedure of the company.

Advised a Managing Director of an of telecommunications company, on a matter concerning personal liability claim filed against him by The Romanian National Agency for Fiscal Administration. Obtained the dismissal of the opposing party’s claim.

Advised a managing director and a shareholder of a top Romanian company, in a file regarding personal liability for the company’s unpaid debts. Obtained the dismissal of the claim submitted by National Agency for Fiscal Administration.


Advised a top Romanian iron and steel manufacturer, creditor in an insolvency procedure, in order to ensure the recovery of its losses. Obtained for the client the acknowledgement of its claim in the final table of receivables.

Advised a Romanian aluminium casting manufacturer, a creditor in an insolvency procedure, and obtained the acknowledgement of its debt at the table of receivables and approval for payment.

Advised a top Romanian wholesale of chemical products as a creditor in an insolvency procedure. Drafted and submitted the claim for payment of current debt.

Advised a top Romanian company in order to recuperate its losses in the insolvency procedure of another company. Obtained Client’s claim acknowledgement at the final table of receivables.

Advised a top Romanian iron and steel manufacturer, a creditor in insolvency procedure, in order to recover its losses. Obtained the acknowledgement of client’s claim in the final table of receivables.
Advised a natural person regarding the bankruptcy procedure of the largest insurance company on the Romanian market. Granted the acknowledgement of his claims in the final table of receivables.

Advised a multi-commodity resource exploration and development company, focused on Romania, Zimbabwe, Zambia and other jurisdictions which is a creditor of a bankrupt company, in order to lodge a Memo/Complaint to the Romanian National Agency for Tax Administration and to prevent a fraudulent action.

Advised a company in order to buy two industrial warehouses from a company undergoing bankruptcy proceedings. Negotiated to the liquidator and carried out all the actions related to the cadastral and real estate appraisals.