In Romania, the course of a legal entity begins by incorporating it at the Trade Register in Romania, it will carry out its economic activity, and then it will follow the closing phase of the company (company deregistration in Romania). There are several reasons for company deregistration in Romania, including the encounter of financial difficulties, the existence of a dispute between shareholders, professional reorientation (change of object of activity), the hypothesis in which an entrepreneur owns an inactive company in Romania and does not want to continue the activity, and others. The procedure of company deregistration in Romania includes the stages of dissolution of the company in Romania, company liquidation in Romania (winding up a company in Romania)and its deletion from the Trade Register in Romania. The Romanian Law Firm Pavel, Margarit and Associates, a corporate law firm in Romania is internationally recognized for its experience in company deregistration in Romania, which is why it recommends contacting a commercial law lawyer or a corporate lawyer in Romania who can help you deregister a company in Romania (liquidation process in Romania, dissolution of the company in Romania, deregistration of an inactive company in Romania, voluntary deregistration in Romania) and in submitting those necessary documents for company deregistration in Romania, following all the steps according to the legislation in force.
Dissolution of the company in Romania
According to the Romanian Companies Law no. 31/1990, in order to deregister a company in Romania, the first stage is the dissolution of the company in Romania. The dissolution of the company in Romania intervenes when the duration of the company in reached, the impossibility of executing the object of activity, the declaration of nullity of the company, the decision of the general meeting, the court decision, at the request of any associate, for good reasons, such as serious conflicts between associates, which impede the functioning of the company, the bankruptcy of the company or other causes provided by law or by the articles of incorporation of the company.
The dissolution of the company in Romania is followed by company liquidation in Romania, but there are situations where the dissolution takes place without liquidation process in Romania, in the case merger or total division of the company or in other cases provided by law. From the moment of dissolution of the company in Romania, the directors, administrators, respectively the directorate, can no longer undertake new operations. Otherwise, they are personally and jointly responsible for the actions taken.
A commercial law lawyer or a corporate lawyer in Romania can help you deregister a company in Romania (liquidation process in Romania, dissolution of the company in Romania, deregistration of an inactive company in Romania, voluntary deregistration in Romania, filing necessary documents for deregistering the company or any other Trade Register operations.
Company liquidation in Romania. Liquidation process in Romania
The liquidation process in Romania (winding up a company in Romania) consists in the payment of debts to creditors, the division of assets between shareholders and the conversion of assets into liquidity. For this stage, a liquidator will be appointed to orchestrate the entire procedure. In the liquidation process in Romania, the liquidators are indebted, immediately after taking office, to make an inventory with the directors and administrators, respectively with the members of the company’s directorate, and to conclude a balance sheet, to determine the exact situation of the company’s assets and liabilities. According to the Romanian Companies Law no. 31/1990, the liquidators cannot pay to the shareholder any amount in the account of the parties that would be due from the liquidation, before the payment of the creditors of the company. The liquidation process in Romania must be completed no later than one year from the date of registration in the commercial register of the mention of dissolution of the company in Romania. The transfer to the shareholders of the right of ownership of the assets remaining after the payment of creditors takes place on the date of company deregistration in Romania from the Trade Register in Romania.
“In practice, it is absolutely essential to seek advice from a commercial law lawyer or a corporate lawyer in Romania regarding the company deregistration in Romania, as well, as it can provide the highest quality legal assistance regarding liquidation process in Romania (winding up a company in Romania), dissolution of the company in Romania and voluntary deregistration in Romania”, said the Managing Partner of the Romanian Law Firm Pavel, Margarit and Associates, Dr. Radu Pavel.
The Romanian Law Firm Pavel, Margarit and Associates, a corporate law firm in Romania, invites you to contact with confidence a commercial law lawyer or a corporate lawyer in Romania who can help you with the preparation of the necessary documents for company deregistration in Romania, by filling in the contact form with a simple access to the address https://www.avocatpavel.com/contact-us/.
In conclusion, if the entrepreneur decides on company deregistration in Romania, he must go through a series of steps and meet certain conditions imposed by the law in force, so that the company deregistration in Romania is carried out by the book. For this reason, the Romanian Law Firm Pavel, Margarit and Associates, a corporate law firm in Romania, recommends contacting a commercial law lawyer or a corporate lawyer in Romania who can provide assistance to deregister a company in Romania (liquidation process in Romania, dissolution of the company in Romania, deregistration of an inactive company in Romania, voluntary deregistration in Romania) and submitting the necessary documents to deregister e company in Romania.