Articles, Insolvency, Restructuring and Bankruptcy
What is the required documentation for the opening of insolvency proceedings at debtor’s 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 […]