According to Romanian Law no. 85/2014, insolvency is a process by which a company does not have the payment means to pay certain, liquid and exigible debts in Romania. This situation can be solved by involving all creditors in the process and by carrying out the  procedures provided by the law. Therefore, the company may go through the judicial reorganization procedure in Romania in order to obtain a solution for debt recovery in Romania. The Romanian Law Firm Pavel, Mărgărit and Associates recommends contacting a specialized lawyer in insolvency, judicial reorganization and corporate law in Romania, who can guide and assist you in the insolvency procedure in Romania, respectively in the judicial reorganization procedure in Romania, for the possibility of obtaining a financial recovery with regard to the payment of certain, liquid and exigible debts in Romania to creditors.

The lawyers of the Romanian Law Firm Pavel, Mărgărit and Associates have extensive experience in the field of commercial law in Romania and in insolvency procedure in Romania. Thus, a specialized lawyer in insolvency, judicial reorganization and corporate law in Romania can provide legal assistance and representation to a company that is in financial difficulty in Romania and does not have the necessary means to pay certain, liquid and exigible debts in Romania.

One reason for appealing to the services of a lawyer regarding the insolvency procedure in Romania is the possibility of preventing the insolvency procedure in Romania. The lawyer may assist and represent you in the insolvency prevention procedure in Romania, namely in the procedures of ad-hoc mandate and of the agreement with creditors. The specialized lawyer in insolvency and judicial reorganization can conduct negotiations to reach an agreement between the company and its creditors, can assist in drafting the reorganization plan of the company in Romania, can propose plans for reducing expenses, etc.

Another important reason for contacting a specialized lawyer in the insolvency procedure in Romania is to make sure that during this procedure the goals and interests of the company in difficulty are fulfilled. The specialized lawyer in insolvency, judicial reorganization and corporate law in Romania will pursue the financial recovery of the company in Romania, the resumption of its commercial activity and the payment of all debts to creditors, so the company shall continue its commercial activity. Thus, the specialized lawyer in insolvency, judicial reorganization and corporate law in Romania  will ensure that all the rights provided by law in the insolvency procedure in Romania are pursued.  

Moreover, a specialized lawyer in insolvency, judicial reorganization and corporate law in Romania may prepare and file complaints against the preliminary or final table of debts, against the activities of the judicial administrator, the decisions of the creditors’ assembly or against any actions that may be detrimental to the company in insolvency in Romania.

In conclusion, the Romanian Law Firm Pavel, Mărgărit and Associates has a remarkable reputation in commercial law in Romania, assisting numerous companies in the insolvency procedure in Romania and in the judicial reorganization procedure in Romania, that brought significant impact on the company by coordinating and assisting the companies in the insolvency procedure in Romania. The legal assistance and representation may also aim the achievement of the company’s objectives, ensuring that all the rights recognized by Romanian Law no. 84/2014 have been pursued, focus on the prevention of insolvency, on proposing plans for reducing expenses, assisting in drafting the reorganization plan of the company in Romania, filing complaints against the preliminary or final table of claims, the judicial administrator’s actions, the decisions of the meeting of creditors and assisting in any other steps necessary to achieve the objectives of the company.