Insolvency, Restructuring & Bankruptcy

Our department provides legal services at the highest standards, having expertise in advising companies in the insolvency and restructuring procedures, companies in financial distress or bankruptcy, inasmuch as with the pre-insolvency procedures.

We offer high-end legal services in Restructuring & Insolvency, providing multifaceted advice and assistance in complex insolvency cases to secured and unsecured creditors, debtors, lessors, creditors’ committees, equity holders, trustees, prospective acquirers of businesses or assets. Furthermore, we represent nearly every sector of the economy, including manufacturing, real estate and construction, retail, transportation, utilities, pharma, travel, chemical, or energy.

Our Legal Services

  • Restructuring
  • Insolvency (Observation, Reorganization & Bankruptcy)
  • Liquidation
  • Debt Selling & Debt Collection
  • Debt Recovery
  • Non Performing Loan Restructuring (NPLs)
  • Structured finance
  • Collateral Guarantees Negotiation
  • Auctions
  • Potential Liability for Corporate Executives (allegations of negligence or fraud)

International Recognition

Legal 500 2024

Legal 500: Pavel, Margarit and Associates Romanian Law Firm ranked Tier 3 in 2024

Tier 3 Restructuring and Insolvency

“The entire team from Pavel, Margarit si Asociatii is excellently well prepared, both from the point of view of the relevant legislation and from the point of view of the ability to know and understand the characteristic aspects of each individual case.”

“The firm is highly appreciated in the field of Restructuring and Insolvency in Romania. The lawyers do an extraordinary job in handling complex cases and are extremely good advisors. The best lawyers in Romania always achieve the best result for their clients and know how to stand out.”

“I deeply admire the lawyers’ knowledge and their ability to come up with solutions. I can confidently say that they are the best when it comes to issues in Restructuring and Insolvency in Romania.”

Source Legal500 2024, Restructuring and insolvency


Legal 500 2022

Leading Law Firm 2022

Tier 3 Restructuring and Insolvency

Pavel, Margarit & Associates Romanian Law Firm impresses with its flexibility and quick access to staff and partners at all times. With over 16 years experience in the market, the very helpful and accessible Managing Partner Radu Pavel is the main contact. Areas of expertise include refinancings, distressed asset sales, pre-insolvency procedures and related litigations and debt recovery actions. The Romanian Law firm represents creditors and debtors, and has been particularly active in the manufacturing, natural resources, and real estate and construction sectors.

We value the practice for flexibility and quick access to staff and partners at all times.

We find the Senior Partner Radu Pavel very helpful and accessible.

Source Legal500 2022, Restructuring and insolvency

International Financial Law Review IFLR1000 2022

International Financial Law Review IFLR1000 2020

In the Insolvency practice area, the clients testimonials include inter alia:

“They deliver a full range of services and helped us identify and manage legal risk.”

Source: IFLR 1000, 2022

Legal 500 2020

Tier 2 Restructuring and Insolvency

Leading Firm 2020 Restructuring and Insolvency

˜Excellent and quick service. Close and constructive involvement of senior partner. Good command of legal principles. Good value for money.

Selected Credentials

  • Assisted a real estate developer and private equity investor, in a cross-border insolvency in his capacity as a creditor, with a claim of over EUR 20 MIL. Our role was to create a strategy considering the legal possibilities through which the client could purchase all the assets of the insolvent company at the best value, performed out-of-court activities (patrimony inventory and assessments) and assisted during the negotiations with the creditors and insolvency practitioner.
  • Assisted a global leader and one of Turkeys key textile exporters, in a cross-border insolvency with more than USD 7 BIL worth of commodities to 70 countries across 5 continents since its foundation, in the insolvency file of one of Europes leading producers of ceramic products. Our role was to create and maximize the prospects of recovering of the receivables and draft all the documents pertaining to the legal proceedings for that purpose. The mandate also covered representation of the client before the syndic judge in order to secure the reinstatement within the time limit of the statement of claims and before the insolvency practitioner, with the aim to pursue the insolvency practitioner to analyze and acknowledge the claim and to register it in the final table of receivables as the client was not notified by the insolvency practitioner about the opening of the insolvency proceedings against the debtor.
  • Assisted a major Romanian real estate developer in a cross-border insolvency. The client had assets worth over EUR 8 MIL and liabilities amounting to approximately EUR 12 MIL. Our role was to assist during the observation stage, to draft and assist with the implementation of the reorganization plan, drafting also the objections against the evaluation report regarding the errors made by the expert.

Press Coverage