Bankruptcy, Insolvency & Rehabilitation Proceedings in Romania (Updated)

KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER ROMANIAN LAW -

1. A brief presentation of the bankruptcy/insolvency/rehabilitation proceedings of the country and their main differences.

Romanian legislation provides two main categories of such procedures:

I. Insolvency prevention procedures -

I.1. Ad-hoc mandate -

If the debtor faces financial difficulties, it can request the court to open the ad-hoc mandate procedure.....