Articles
Selling an industrial asset in bankruptcy proceedings
A complete guide, from inventory to handover: valuation, the sale regulations, approval by the creditors' meeting, publicity, CEISD and environmental clearances, the contract and e-invoicing, the 2% liquidation fund and the obligations that remain after the asset changes hands. Published in Phoenix review.
Dissolution and liquidation of companies (Law 31/1990)
The grounds for dissolution, the liquidator's powers and their limits, the four stages before the Trade Registry, the mandatory 60-day report, the one-year term with a maximum of three extensions, the final balance sheet and the striking off. Plus the accounting and tax aspects of a liquidation.
Dissolution and liquidation of associations and foundations
The procedure under Government Ordinance 26/2000, step by step: appointing the liquidator, the inventory and balance sheet under the supervision of the censors, paying the creditors, and the rule that surprises most often — assets remaining after liquidation can never pass to natural persons. Plus the memorandum, the 30-day challenge period and the striking off.
The limits of judicial review over the reorganisation of a business
Article published on juridice.ro
The article highlights the economic and social importance of Law no. 85/2014, arguing that wherever possible the debtor should be given a chance to recover. It also looks at European trends, with reference to the Directive issued by the European Parliament and the Council under no. 2016/0359 (COD) of 22 November 2016.
Notifying employees when insolvency proceedings are opened (Law 85/2006)
An article that matters for employees
Notifying the opening of proceedings is one of the first steps the judicial administrator or the liquidator must take in order to discharge the duties set out in articles 20 and 25 of the Law. The Law provides that notice is sent to all creditors named in the list filed by the debtor, to the debtor, and to the register in which the debtor is recorded. But what exactly does "all creditors" mean? The article looks at the question in detail.
Closing insolvency proceedings (Law 85/2006)
Under article 131 of Law 85/2006: at any stage of the proceedings governed by this Law, if it is established that the debtor has no assets, or that they are insufficient to cover the administrative costs, and no creditor offers to advance the corresponding sums, the syndic judge may issue a judgment closing the proceedings, which also orders that the debtor be struck off the register in which it is recorded.