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Pavel, Margarit & Associates Romanian Law Firm was ranked in the top of law firms in Romania by the prestigious guide Legal 500 (2019)

Pavel, Margarit & Associates Romanian Law Firm is one of the leaders of the Romanian law market, according to the most prestigious law guide in the world, Legal 500 (London, UK). This is the third consecutive year in which Legal 500 recognizes these lawyers professionalism in the areas of Restructuring and insolvency and Real estate […]

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By : May 20, 2019 No Comment
Articles, Insolvency, Restructuring and Bankruptcy

What is the required documentation for the opening of insolvency proceedings at debtors initiative

A company is insolvent if it fails to pay the debt to a creditor within 60 days of maturity. Law no. 85/2014, also called the insolvency law, imposes a value of the debt threshold for which insolvency can be claimed, namely 40,000 lei.   The insolvency procedure is based on an application submitted by the […]

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By : Nov 27, 2018 No Comment
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Articles, Insolvency, Restructuring and Bankruptcy

Insolvency of individuals. Part II. Start of insolvency proceedings.

Insolvency court cannot refuse to start exclusive insolvency proceedings on the grounds that the debtor has insufficient assets to cover the costs of the procedure, these will be borne by the Romanian state. These amounts will be refunded prior, from the income resulting from the execution of the insolvency procedure. Simultaneously with the commencement of […]

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By : Jun 11, 2017 No Comment
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