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Justice Minister: Insolvency Law To Arrive By Midyear
The new insolvency code, a law that banks and other creditors expect to make it easier for them to get their money back, while ailing companies hope it will provide them with a better framework for reorganization, is stirring heated debates even before reachin...
New Insolvency Code Takes Effect On October 25; NGOs Denounce Article On TV, Radio Licenses
Romania’s new Insolvency Code was published in the Official Journal Friday and will take effect on October 25. It will also apply to insolvency requests currently under analysis.
Managers Causing Firms To Enter Insolvency May Cover Debts From Their Own Pocket
Managers who cause a firm to enter insolvency will have to cover partially or totally the debts registered by the firm from their own pocket and will not be allowed to run other companies fo...
Companies In Romania May File For Insolvency Only For Debts Exceeding RON90,000
Romanian companies facing financial problems may file for insolvency only if their debts exceed 90,000 lei (over EUR20,000), and creditors may submit insolvency claims against debtors 30 day...
Romania’s New Civil Procedure Code To Take Effect Friday
Romania’s new Civil Procedure Code will take effect Friday, February 15, after its enforcement date has been changed several times.
New Civil Procedure Code Might Be Applied Starting June 1
The Romanian Government proposes that the new Civil Procedure Code be applied starting June 1, 2012, Justice Minister Catalin Predoiu said Wednesday.