The administrator of the company is responsible for all actions or failures to act, as per the obligations provided by the law and of the articles of association of the company.
The administrator shall be jointly and severally liable for carrying out the decisions of the general meetings of the shareholders and the activities of his/her close predecessors. Failure to fulfill any obligation by the administrator may rise the liability of the administrator of a company in Romania, in which case a lawyer specialized in corporate law and commercial law in Romania can you legal assistance and representation before the courts in order to resolve a possible dispute.
The action for damages against the administrator of a company in Romania represents a prerogative of the general meeting of shareholders and may be exercised in the event that the administrator does not take the necessary actions to prevent the company to incur damages. However, in such cases, it shall be proved that the administrator could have taken certain actions to this end and the administrator did not do so or on the contrary, the administrator carried out the actions which led to the damages.
Moreover, the Romanian Civil Code provides that the liability of the administrator of a company in Romania may be attracted in case of faults found in the execution of his/her duty for supervision, if the incurred damage would not have been occurred if the administrator had exercised the supervision required by law.
The effect of the action for liability against the administrator of a company in Romania is the immediate dismissal, decided during the general meeting of shareholders, this being considered a penalty for the administrator who has not properly performed his/her duties. Therefore, the Romanian Law Firm Pavel, Mărgărit and Associates recommends to the natural persons who own the capacity of administrator of a company in Romania to contact a lawyer specialized in corporate law and commercial law in order to receive legal advice and representation on situations in which the administrator may be held liable.
Given the complexity of the responsibilities of the administrator of a company in Romania and of the mandatory legal provisions, a lawyer specialized in corporate law and commercial law in Romania can provide you with all the necessary information regarding the risks of attracting liability and the possibilities for settling corporate and commercial disputes related to the liability of the administrator of a company in Romania.