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The Moldovan Parliament adopted a new insolvency law on 29 June 2012. The Insolvency Act No. 149 (Act No. 149), which will enter into force on 14 March 2013, is evolutionary rather than revolutionary, as its main goal appears to be the optimization of the existing insolvency procedures. Following the new act’s entry into force, insolvency cases shall fall under the competence of the court of appeal where the seat of the debtor is located. Also each such court of appeal shall hold a public register of insolvency cases.
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What a Foreigner should know before
becoming a Member of a Supervisory Board in
a Moldovan Joint-stock Company