Pavel, Margarit & Associates Romanian Law Firm

Strict regulations and additional obligations for employers in Romania Workplace harassment in Romania represents a major issue that affects both the health of employees and their productivity at work. Recently, working law in Romania has undergone significant changes, imposing stricter measures for preventing and combating workplace harassment in Romania. The new labor law regulations place increased responsibility on employers, who must adopt clear and effective policies to prevent this phenomenon. The Romanian Law Firm Pavel, Mărgărit and Associates recommends implementing concrete protective and informational measures for employees, with the support of a labor rights lawyer in Romania, to comply with legal requirements concerning workplace harassment and employee rights at work in Romania. To the extent that labor law is not respected, conflicts and labor disputes in Romania can arise, which can affect both the employer and the employee. Labor rights lawyer in Romania. What does workplace harassment mean? Workplace harassment is defined by working law in Romania as any unwanted behavior that affects a person’s dignity, creating an intimidating, hostile, degrading, or humiliating environment. According to the new regulations, two main types of harassment are distinguished: sex-based harassment and moral harassment at work in Romania. Workplace discrimination in Romania and workplace harassment in Romania extend employee rights at work in Romania to other work environments, such as: At the workplace, including in public and private spaces when they constitute a workplace; In places where the employee is paid, rests, eats, or uses the sanitary facilities, washing installations, and changing rooms provided by the employer; During business trips, training, events, or social activities related to work; Through work-related communications, including those made through information and communication technology; In accommodation spaces provided by the employer; During travel to and from work. Labor attorney in Romania. What additional obligations do employers have? According to the new legislative changes on working law in Romania, employers are responsible for preventing and combating harassment and moral harassment at work in Romania through clear internal policies. In this regard, they must develop an internal guide to prevent and combat harassment, tailored to the specifics of the activity carried out, and implement concrete protective measures for employees. A labor attorney in Romania can assist in drafting and applying clear policies regarding harassment prevention while providing legal advice for managing possible harassment and workplace discrimination in Romania incidents. Among the employer’s obligations are: implementing reporting mechanisms for harassment cases and moral harassment at work in Romania, organizing training sessions for employees, applying clear disciplinary sanctions for confirmed harassment cases, and creating a safe and inclusive work environment for all employees. Employee rights attorney in Romania. Protection against workplace harassment Preventing harassment and ensuring a fair work environment are essential for the smooth operation of a company or organization. Companies, public institutions and private employers must ensure that employee rights at work in Romania are protected through appropriate policies. An employee rights attorney in Romania and a labor lawyer in Romania play a key role in preventing and managing workplace harassment and workplace discrimination in Romania cases, providing legal advice for investigating harassment cases, legal representation in labor disputes in Romania, developing and implementing internal anti-harassment policies, and assisting in drafting internal regulations concerning harassment and discrimination. The Romanian Law Firm Pavel, Mărgărit and Associates are the only law firm l in Romania recognized by the director of the International Comparative Legal Guides (ICLG) from the United Kingdom for the Employment and Labour Law in 2025 section. This recognition highlights their exceptional expertise in labor law, further solidifying their status as leaders in providing high-quality legal advice to both employers and employees. The Romanian Law Firm Pavel, Mărgărit and Associates offers legal support to employers and employees for compliance with the new regulations and for preventing workplace harassment in Romania. For specialized legal assistance from a labor lawyer in Romania and an employee rights attorney in Romania for implementing necessary compliance measures with the new regulations, contact Pavel, Mărgărit and Associates by completing the contact form at https://avocatpavel.com/contact/. Don’t navigate these challenges alone. Contact Us today for expert assistance tailored to your needs. Contact Us “We offer consultation and support to companies wishing to implement internal procedures for preventing and combating harassment, ensuring compliance with current regulations,” stated Dr. Radu Pavel, Managing Partner of the Romanian Law Firm Pavel, Mărgărit & Associates. Workplace harassment must be prevented through strict enforcement of the legislation and well-structured internal policies. With the help of a labor law attorney in Romania, both employees and employers can benefit from adequate legal protection and effective solutions for preventing and combating workplace harassment. Harassment and discrimination in the workplace is a complex problem that requires concerted efforts from both employers and employees to be effectively fought. A labor attorney in Romania and a workplace harassment lawyer in Romania can help in counseling both employees and employers by explaining the legal rights and obligations they have at work, as well as in drafting and reviewing internal procedures regarding the prevention and combat of harassment to ensure compliance with the current legislation. At the same time, as legal conflicts or allegations of harassment and discrimination arise, a labor rights lawyer in Romania can assist in managing the legal process, protecting the interests of each party involved. If an amicable resolution is not reached, the attorney can intervene in court to represent the employer or employee before the competent authorities and even to file a workplace harassment complaint. Harassment and discrimination-related labor disputes in Romania can be complex and can significantly impact an organization’s reputation and activity, which is why preventive measures and legal interventions must be carried out in a timely and professional manner. Pavel, Margarit and Associates Law Firm is one of the top law firms in Romania, providing high-quality legal services. The firm’s clients include multinational and domestic companies of great magnitude. In 2024, the law firm’s success stories brought it international recognition from the most prestigious international guides and publications in the field. As a result, Pavel, Margarit and Associates Law Firm ranked 3rd in Romania in the Legal 500’s ranking of business law firms with the most relevant expertise. The law firm is internationally recognized by the IFLR 1000 Financial and Corporate 2024 guide. Additionally, Pavel, Margarit and Associates Law Firm is the only law firm in Romania recommended by the international director of Global Law Experts in London in the Dispute Resolution practice area. All relevant information about Pavel, Margarit and Associates Law Firm can be found on the website www.avocatpavel.com.

Methods of debt collection in Romania The procedure of debt recovery in Romania can be a significant challenge in legal relations between parties, aiming to protect the rights and interests of creditors. This process is governed by the Romanian Civil Procedure Code or applicable legislation, depending on the source of the damage. When dealing with damages resulting from international conflicts, the process can be even more complex. A relevant example is the damage caused by theft, particularly when it involves heritage assets of national importance, such as the Dacian artifacts from a Dutch museum. Legal solutions in Romania for debt collection in Romania in such cases include seeking compensation under international law, holding perpetrators criminally accountable, or pursuing civil court proceedings, such as action for tort liability in Romania. This article explores legal means of debt recovery in Romania, analyzing aspects such as the debt recovery solutions in Romania available to the Romanian state for damage compensation, debt collection in Romania through civil liability in Romania, conditions for tort liability in Romania, and amicable settlement procedures. The Romanian Law Firm Pavel, Mărgărit & Associates is internationally recognized for its extensive experience in debt recovery litigation. A litigation lawyer in Romania from the team can provide high-level lawyer advice in Romania and representation. To get legal advice in Romania can be crucial, especially when damage recovery appears complicated or even impossible. Litigation lawyer in Romania. How can the Romanian state recover damages from the theft of artifacts? One of the primary methods of damage recovery is through a action for civil liability in Romania. Possible solutions in such cases include the return of stolen assets or financial compensation. A straightforward way to cover damages is through insurance claims if the stolen goods were insured, at least partially recovering their financial value. In such a scenario, the Romanian state could directly file a claim against the insurance company. Beyond these avenues, the Romanian state can also pursue criminal liability against those responsible for the theft. The theft of artifacts is not only a criminal offense but also a serious violation of Romania’s cultural heritage. Given the complexity of the damage recovery process in such situations, seeking legal counsel is highly recommended to maximize the chances of successful compensation. Civil lawyer in Romania. Conditions for tort liability in Romania To initiate an action for tort liability in Romania against an individual, several conditions must be met cumulatively. The Romanian Civil Procedure Code provides the legal framework for creditors to seek damage compensation through such actions (action for damages in Romania). According to the code, the following elements are required for debt recovery in Romania through tort liability in Romania: An unlawful act Damage or loss Causal link between the act and the damage Fault If these conditions are met, the perpetrator of the unlawful act can be held fully accountable for compensation, as stipulated by the Romanian Civil Procedure Code. Lawyer advice in Romania is highly recommended in these cases. An experienced litigation lawyer in Romania can offer legal assistance and representation, ensuring the highest chances of success through proper legal protection in case of engaging civil liability in Romania. Debt recovery lawyer in Romania. Amicable settlement procedure The amicable settlement procedure is a preliminary stage before initiating court proceedings, where a creditor attempts to recover debts without resorting to litigation. The benefits of an amicable approach include avoiding court costs and resolving disputes more quickly through negotiations in Romania. Typically, creditors and debtors negotiate repayment options, such as installment plans or penalty reductions. If negotiations in Romania fail, the creditor may issue a formal notice informing the debtor of the payment deadline. If the debtor does not comply within the specified timeframe, the creditor can proceed with action for damages in Romania. To get legal advice in Romania is essential even in amicable settlement procedures, as a civil lawyer in Romania can provide strategic guidance and legal support throughout the process of debt collection in Romania. The Romanian Law Firm Pavel, Mărgărit & Associates has extensive experience in litigation and can assist with debt recovery in Romania through lawyer advice in Romania, negotiations in Romania, actions for tort liability in Romania, and other legal means provided by Romanian law. In order to get legal advice in Romania, contact a debt recovery lawyer in Romania through the contact form: https://www.avocatpavel.com/contact-us/. Don’t navigate these challenges alone. Contact Us today for expert assistance tailored to your needs. Contact Us “Debt collection in Romania is not just a legal process but also a strategic one. In a debt recovery dispute, a civil lawyer in Romania can be the key to success, providing a personalized and professional approach while saving significant time and resources,” stated Dr. Radu Pavel, Managing Partner of the Romanian Law Firm Pavel, Mărgărit & Associates. In conclusion, recovering damages caused by artifact theft (involving international disputes) or unpaid debts can be a complex process, requiring various legal mechanisms such as litigation (action for damages in Romania), criminal liability, or amicable negotiations in Romania. The Romanian Law Firm Pavel, Mărgărit & Associates strongly recommends consulting a debt recovery lawyer in Romania, as legal expertise can make a crucial difference in resolving disputes. Whether it involves cultural heritage or civil debts, compensation for damages is essential for a fair legal system. Pavel, Margarit and Associates Law Firm is one of the top law firms in Romania, providing high-quality legal services. The firm’s clients include multinational and domestic companies of great magnitude. In 2024, the law firm’s success stories brought it international recognition from the most prestigious international guides and publications in the field. As a result, Pavel, Margarit and Associates Law Firm ranked 3rd in Romania in the Legal 500’s ranking of business law firms with the most relevant expertise. The law firm is internationally recognized by the IFLR 1000 Financial and Corporate 2024 guide. Additionally, Pavel, Margarit and Associates Law Firm is the only law firm in Romania recommended by the international director of Global Law Experts in London in the Dispute Resolution practice area. All relevant information about Pavel, Margarit and Associates Law Firm can be found on the website www.avocatpavel.com.

Plaintiff or creditor in Romania? This article analyzes the impact of criminal proceedings on the insolvency procedure in Romania, in light of case law addressing the relationship between precautionary measures imposed in criminal proceedings and insolvency proceedings in Romania, specifically Decision no. 1/2020, which establishes that the existence of precautionary measures applied in a criminal case over the assets of a legal entity (company insolvency in Romania), prior to the commencement of insolvency proceedings in Romania, does not suspend the liquidation procedure under Law no. 85/2014. Although the precautionary measures may complicate asset liquidation, the insolvency procedure in Romania for the legal entity may continue, enabling creditors to recover their claims. A specialized insolvency lawyer in Romania can provide legal assistance for registering a creditor in Romania on the creditors’ list, contesting the preliminary creditors’ table, and taking any necessary steps for debt recovery in Romania. The Romanian Law Firm Pavel Mărgărit and Associates offers consultancy in managing company insolvency in Romania and debt recovery in Romania, also advising creditors to register both in the creditors’ table and as plaintiffs in criminal proceedings to maximize their chances of debt collection in Romania. Insolvency lawyer in Romania. The impact of criminal proceedings on insolvency procedure in Romania Criminal proceedings can significantly influence insolvency proceedings in Romania, particularly when precautionary measures such as sequestration have been imposed on a distressed company’s assets. According to applicable legal provisions, precautionary measures taken within criminal proceedings do not prevent the continuation of the insolvency procedure in Romania and do not affect creditors’ rights to be satisfied from the debtor’s assets. Assets belonging to a legal entity undergoing insolvency proceedings in Romania, over which precautionary measures have been imposed, may be acquired free of any encumbrances. It is important to note that there are exceptions to this rule for precautionary measures imposed in criminal cases aimed at special and extended confiscation. In other words, assets can be liquidated within the insolvency procedure in Romania but will be acquired with the attached sequestration. The Romanian Law Firm Pavel Mărgărit and Associates recommends seeking the services of a litigation lawyer in Romania and an insolvency lawyer in Romania to analyze the impact of precautionary measures on insolvency proceedings in Romania and to identify the most effective legal solutions for debt recovery in Romania. A litigation lawyer in Romania specializing in insolvency procedure in Romania and debt recovery in Romania can provide assistance in both the liquidation of assets affected by precautionary measures and in contesting these measures, where applicable. Litigation lawyer in Romania. Precautionary measures in criminal proceedings do not hinder insolvency procedures or debt recovery in Romania The precautionary measures imposed by criminal investigation authorities do not hinder the insolvency procedure in Romania or debt recovery in Romania for legal entities. On the contrary, filing criminal complaints may lead to an extension of the sequestration over the assets of individuals involved, thus increasing creditors’ chances of recovering their claims. According to provisions in Law no. 85/2014, claims of plaintiffs in criminal cases are listed in the creditors’ table under a suspensive condition, pending the final resolution of the civil action in the criminal case in favor of the harmed party, by submitting a statement of claim in Romania. Regarding creditors registered as plaintiffs in criminal proceedings, they are not required to renounce this status to be included in the creditors’ table within insolvency proceedings in Romania. The two procedures – criminal and insolvency – are complementary and can contribute to increasing the chances of debt recovery in Romania. Debt recovery in Romania.  Asset evaluation by the judicial administrator and modifications to the creditors’ table in insolvency procedures Asset evaluation is a critical process in the insolvency procedure in Romania for companies, directly affecting how the entire procedure will unfold and the chances of creditors recovering their claims. The judicial administrator is required to prepare a detailed inventory of all assets held by the debtor in Romania, and the evaluation must be conducted in accordance with applicable legal and professional standards, a process that is essential for preparing the definitive creditors’ table. Differentiating between secured and unsecured claims is another important element, as the actual value of assets impacts the degree to which debts can be recovered. Asset value fluctuations during auctions can also affect the process, with prices potentially decreasing significantly by the time of actual liquidation. Additionally, it is important to note that the creditors’ list is not final at the beginning of the insolvency procedure in Romania. Claims can be contested, and if the court accepts the challenges, the creditors’ table may be modified. Some claims may be initially rejected but can be readmitted later after the resolution of the disputes. Furthermore, creditors who were not initially notified can still submit their claims even after the creditors’ table is finalized. This flexibility is crucial for ensuring a fair process and protecting the rights of all parties involved. A specialized insolvency lawyer in Romania and litigation lawyer in Romania can provide complex legal assistance for creditor in Romania to register in the creditors’ list, including contesting the preliminary creditors’ table, filing liability actions, and representing clients in debt collection in Romania. The Romanian Law Firm Pavel Mărgărit and Associates has vast experience in the field of insolvency proceedings in Romania, and its lawyers can assist with the drafting of the request to open the insolvency procedure in Romania, the statement of claim in Romania, or any other matter related to company insolvency in Romania. For personalized legal consultation, contact an insolvency attorney in Romania at our firm by accessing the contact form on our website at https://avocatpavel.com/contact/ to receive the best solutions regarding company insolvency in Romania and company bankruptcy in Romania. Don’t navigate these challenges alone. Contact Us today for expert assistance tailored to your needs. Contact Us “It is essential to consult an insolvency attorney in Romania to ensure you follow all the steps imposed by law in company insolvency in Romania, for both creditors and debtors,” stated the Managing Partner of The Romanian Law Firm Pavel Mărgărit and Associates, Dr. Radu Pavel. In conclusion, although criminal proceedings and insolvency proceedings in Romania are distinct, they are interconnected in a way that can significantly contribute to protecting creditors’ rights and maximizing debt recovery in Romania chances. Each creditor in Romania must adopt a well-defined strategy, taking into account the specifics of each procedure. While the insolvency procedure in Romania allows for asset liquidation and debt collection in Romania, the criminal process can assist by identifying fraudulent acts and extending precautionary measures, thus protecting creditors’ rights in the company insolvency in Romania. However, asset liquidation may face obstacles, such as lack of necessary documentation, encumbrances in the land registry, or sequestration imposed by criminal authorities. Therefore, careful management and specialized legal consultation from an insolvency attorney in Romania are essential throughout these legal proceedings. Pavel, Margarit and Associates Law Firm is one of the top law firms in Romania, providing high-quality legal services. The firm’s clients include multinational and domestic companies of great magnitude. In 2024, the law firm’s success stories brought it international recognition from the most prestigious international guides and publications in the field. As a result, Pavel, Margarit and Associates Law Firm ranked 3rd in Romania in the Legal 500’s ranking of business law firms with the most relevant expertise. The law firm is internationally recognized by the IFLR 1000 Financial and Corporate 2024 guide. Additionally, Pavel, Margarit and Associates Law Firm is the only law firm in Romania recommended by the international director of Global Law Experts in London in the Dispute Resolution practice area. All relevant information about Pavel, Margarit and Associates Law Firm can be found on the website www.avocatpavel.com.

What is the stage of the insolvency proceedings in Romania for Nordis Management SRL? The beginning of this week starts with the publication of the preliminary debt table for the debtor, Nordis Management SRL, an essential document in the insolvency procedure in Romania that sets the amount and structure of the company’s debts towards creditors. This provides a clear picture of the financial obligations assumed by the debtor in Romania and represents an important step in determining the direction for reorganization or, in the event of failure of the recovery measures, for potential bankruptcy of a company in Romania. The Romanian Law Firm Pavel Mărgărit and Associates offers high-quality legal services in the insolvency procedure in Romania, assisting both creditors and debtors in the insolvency procedure in Romania for legal entities. In this article, we will analyze the main aspects related to the statement of claim in Romania and registration in the creditors’ table in the insolvency procedure in Romania, documents necessary for debt recovery in Romania for a company in insolvency procedure in Romania. Insolvency lawyer in Romania. The insolvency procedure in Romania and bankruptcy of a company in Romania The insolvency procedure in Romania for legal entities begins either at the request of the debtor in Romania or the creditor in Romania when a company can no longer pay its debts. This includes several stages, such as observation, reorganization, and, if necessary, bankruptcy. If recovery is not possible, bankruptcy of a company in Romania is initiated, at which point the company’s assets are liquidated to settle the debts. In this process, an insolvency lawyer in Romania can represent creditors to ensure that their rights are protected and that the debt recovery in Romania procedure is followed correctly. Debt recovery in Romania. The statement of claim in Romania and registration in the creditors’ table in the insolvency procedure in Romania A creditor wishing to recover debts, unpaid invoices, or any other type of debt collection in Romania from a debtor in Romania in the insolvency procedure in Romania must register in the creditors’ table by submitting a statement of claim in Romania within the deadline set by the judicial administrator. This document is essential for debt recovery in Romania and must contain all details regarding the amount owed, the nature of the claim, and supporting documents. Among the necessary documents for company insolvency to submit the statement of claim in Romania are commercial contracts, unpaid invoices, payment orders, and any other evidence proving the existence of the claim. An insolvency attorney in Romania can assist in correctly drafting the request for registration in the creditors’ table, thus avoiding the risk of rejection in the company insolvency file with debts. Insolvency lawyer in Romania. Creditor’s table in insolvency proceedings. After submitting the statements of claim in Romania for registration in the creditors’ table for a company in insolvency, the judicial administrator draws up the preliminary table, which lists the accepted and contested claims. This document is crucial for debt recovery in Romania and debt collection in Romania, as it determines the order of payment to creditors. If a creditor believes that their amount has been incorrectly registered or rejected, they can file an objection in court, where it is recommended to be represented by an experienced litigation lawyer in Romania. Nordis Management SRL’s total debts are approximately 728.9 million lei, of which more than 422 million lei are potential claims conditioned by the fulfillment of contractual obligations. The main categories of creditors are customers with sales-purchase promises, those who have abandoned projects, and current owners whose apartments are unfinished or not handed over. Litigation lawyer in Romania. The creditors’ table and debt recovery in Romania The creditors’ table represents all creditors registered in the debt table. This is essential for the debt recovery in Romania procedure, as it sets the payment priority of debts based on the category of each claim: secured, budgetary, salary, or unsecured. An insolvency lawyer in Romania can offer legal support to creditors to maximize their chances of debt collection in Romania, either through direct negotiations or by actively participating in the judicial procedure. An essential aspect of the insolvency procedure in Romania for companies is debt recovery in Romania and the recovery of unpaid invoices. Creditors must act quickly to register their claims in the insolvency procedure in Romania for companies and to cooperate with a debt recovery in Romania lawyer to protect their interests. Debt recovery in Romania within the insolvency procedure in Romania can be a complex process that requires the expertise of an insolvency lawyer in Romania. The Romanian Law Firm Pavel Mărgărit and Associates provides specialized legal support in debt recovery in Romania, ensuring that creditors’ rights are protected and that the insolvency procedure in Romania is followed correctly. Litigation lawyer in Romania. Appealing the creditor’s table in insolvency proceedings. A creditor in Romania can contest the preliminary table in several situations. These include unjustified exclusion of a claim, listing an amount lower than requested, incorrect classification of a claim in a certain category, or the acceptance of unfounded claims. It is essential that each creditor in Romania carefully analyzes the preliminary table to check if the listed amount corresponds to reality and if their rights are respected. The deadline for submitting an objection is 7 days from the publication of the table in the Insolvency Procedure Bulletin. Exceeding this deadline may result in the loss of the right to contest the claim’s registration, which is why prompt action is recommended for creditors interested in contesting. After analyzing the objection, the court may decide either to admit and modify the preliminary table or reject the request and maintain the initial registration. In some cases, the reevaluation of the claim may lead to an intermediate amount, depending on the evidence submitted. Regardless of the solution, creditors must be prepared to support their case with solid arguments and conclusive documents regarding the insolvency proceedings in Romania of the legal entity. Given the complexity of the insolvency procedure in Romania and the legal implications of contesting the preliminary debt table, it is essential for creditors to be assisted by an insolvency lawyer in Romania when dealing with a company in insolvency. This lawyer can provide legal support in drafting and supporting the objection, thus maximizing the chances of recovering the debts. “It is important for creditors to consult an insolvency lawyer in Romania in a timely manner, who can provide specialized legal assistance for debt recovery in Romania, minimizing the risks associated with the insolvency procedure in Romania,” stated the Managing Partner of The Romanian Law Firm Pavel Mărgărit and Associates, Dr. Radu Pavel. The Romanian Law Firm Pavel Mărgărit and Associates has vast experience in the field of insolvency proceedings in Romania, and its lawyers can assist with the drafting of the request to open the insolvency procedure in Romania, the statement of claim in Romania, or any other matter related to company insolvency in Romania. For personalized legal consultation, contact an insolvency attorney in Romania at our firm by accessing the contact form on our website at https://avocatpavel.com/contact/./ to receive the best solutions regarding company insolvency in Romania and company bankruptcy in Romania. Don’t navigate these challenges alone. Contact Us today for expert assistance tailored to your needs. Contact Us The Romanian Law Firm Pavel Mărgărit and Associates offers legal advice and representation for both creditors and debtors in company insolvency in Romania and company bankruptcy in Romania procedures. With a well-thought-out strategy and a proactive approach, creditors can efficiently protect their rights and ensure the recovery of amounts owed within these procedures. For personalized legal advice and assistance with objections to the preliminary debt table and in insolvency proceedings in Romania, contact an insolvency lawyer in Romania from our firm. Pavel, Margarit and Associates Law Firm is one of the top law firms in Romania, providing high-quality legal services. The firm’s clients include multinational and domestic companies of great magnitude. In 2024, the law firm’s success stories brought it international recognition from the most prestigious international guides and publications in the field. As a result, Pavel, Margarit and Associates Law Firm ranked 3rd in Romania in the Legal 500’s ranking of business law firms with the most relevant expertise. The law firm is internationally recognized by the IFLR 1000 Financial and Corporate 2024 guide. Additionally, Pavel, Margarit and Associates Law Firm is the only law firm in Romania recommended by the international director of Global Law Experts in London in the Dispute Resolution practice area. All relevant information about Pavel, Margarit and Associates Law Firm can be found on the website www.avocatpavel.com.

Legal strategies to prevent conflicts and protect your business from costly lawsuits Given the evolving legislative framework and the constantly changing business environment, many companies in Romania find themselves involved in legal disputes that can impact their operations and stability. Most often, these disputes involve commercial debt recovery in Romania from commercial conflicts, tax issues, labor disputes, or matters related to insolvency proceedings in Romania and bankruptcy procedures in Romania. Implementing legal strategies to prevent such disputes is essential, yet there are numerous situations where companies still face conflicts that disrupt their economic activities and lead to significant financial losses. A debt recovery lawyer in Romania can be invaluable in resolving disputes and developing a tailored legal strategy. More specifically, a litigation lawyer in Romania can assist with unpaid invoice recovery, drafting petitions for the annulment of an administrative act in Romania, engaging director’s liability in Romania, drafting commercial contracts (including international business contract in Romania), contesting contractual dismissal in Romania, opening insolvency in Romania, and offering legal consultancy in employment and labor law in Romania, commercial law, fiscal law in Romania, and insolvency in Romania. The Romanian law firm Pavel, Mărgărit and Associates recommends seeking assistance from a corporate lawyer in Romania who can provide high-quality representation in case of commercial disputes. This article discusses the most common types of litigation between companies and the legal services available for debt collection in Romania in such cases. Commercial lawyer in Romania. Business disputes between companies In a dynamic and ever-growing business environment, commercial conflicts can arise easily, posing a constant risk for companies. Such disputes often result from non-performance or defective performance of obligations established in commercial contracts, including international business contract in Romania. Before taking a dispute to court, it is advisable to explore alternative dispute resolution methods for commercial debt recovery in Romania. Generally, these cases involve the collection of unpaid invoices or the return of delivered goods. If the dispute to recover debt in Romania cannot be resolved amicably, a commercial lawyer in Romania or a litigation lawyer in Romania can assist and represent you in court, significantly increasing the chances of success in recovering company debts in Romania. Debt recovery solicitors in Romania can also help prevent disputes by drafting well-structured commercial contracts that clearly define the rights and obligations of the parties, as well as penalties for non-compliance and coming up with the best debt recovery solutions in Romania. Tax attorney in Romania. Tax disputes in Romania Tax conflicts can hinder a company’s ability to conduct business in Romania. Such conflicts arise when the Romanian tax authority identify violations of tax laws. In these cases, the assistance of a tax lawyer in Romania (a tax attorney in Romania) is crucial for protecting business interests and minimizing legal risks. Common tax-related issues include tax audits, disputes over tax obligations in Romania, challenges to tax decisions, and engaging responsibilities of an administrator in Romania for corporate debts. A tax lawyer in Romania can assist in both dispute prevention and legal representation during tax conflicts. If a dispute with the Romanian tax authority arises, a tax lawyer in Romania can provide services such as engaging director’s liability in Romania, requesting the annulment of an administrative act in Romania, and using other legal mechanisms to protect corporate interests. Employment lawyer in Romania. Employment disputes in Romania Employer-employee relationships are critical to business operations. Labor disputes often arise from unpaid wages, workplace discrimination, unfair dismissals, or breaches of employment contracts. An employment lawyer in Romania can provide specialized legal assistance in cases where employment contract provisions have been violated, including wrongful contractual dismissal in Romania. Possible legal solutions include challenging a decision of contractual dismissal in Romania (within the legal timeframe), requesting its annulment, filing claims for unpaid wages, and other labor law services. Insolvency attorney in Romania. Insolvency proceedings in Romania Insolvency proceedings in Romania are one of the most important debt recovery solutions in Romania for creditors seeking to recover debt in Romania but can be challenging for companies facing financial difficulties. While insolvency prevention strategies are recommended, some companies may reach a stage where financial recovery is no longer possible. Once insolvency proceedings in Romania begin, creditors can file a statement of claim in Romania to register their debts. If a creditor’s statement of claim in Romania is not fully recognized in the preliminary creditors’ table, they can challenge it. Proper registration in the creditors’ table is crucial for debt collection in Romania, and legal assistance from an insolvency lawyer in Romania can maximize the chances of successful claims. Corporate insolvency litigation requires a careful approach from an insolvency attorney in Romania or a debt recovery lawyer in Romania, as recovering debts from a bankrupt company in Romania is particularly complex. An insolvency lawyer in Romania will strive to maximize the process of debt recovery in Romania in case of a bankrupt company in Romania, ensuring that rights and interests are protected. The Romanian Law Firm Pavel, Mărgărit and Associates offers specialized services for high-quality assistance and representation in cases involving commercial, fiscal law in Romania, employment and labor law in Romania, and company insolvency disputes. A commercial lawyer in Romania, a tax attorney in Romania, an employment lawyer in Romania, or an insolvency attorney in Romania can be essential partners in ensuring the well-being of a company. To benefit from our support, you can contact us by filling out the contact form available at https://www.avocatpavel.com/contact-us/. Don’t navigate these challenges alone. Contact Us today for expert assistance tailored to your needs. Contact Us “Legal prevention is the key tool for a stable business. However, in practice, we have observed that the most common disputes arise from the improper execution of commercial contracts, labor law issues such as contractual dismissal in Romania or failure to comply with employment contract clauses, tax law breaches due to unfulfilled tax obligations in Romania, or insolvency proceedings in Romania,” said Dr. Radu Pavel, Managing Partner of the Romanian Law Firm Pavel, Mărgărit and Associates. A corporate lawyer in Romania from our team can assist you with services such as recovering unpaid invoices, preparing applications for the annulment of an administrative act in Romania, engaging responsibilities of an administrator in Romania, drafting commercial contracts (including international business contract in Romania), filing dismissal appeals, overturning dismissal decisions, initiating company insolvency in Romania or bankruptcy proceedings, preparing necessary insolvency documents, and providing legal advice in employment and labor law in Romania, commercial law, fiscal law in Romania, and company insolvency in Romania. We are internationally recognized for our team of specialists, including commercial lawyer in Romania, tax attorney in Romania, employment solicitors in Romania, and insolvency lawyers in Romania, with extensive experience in these areas. Given the above, business disputes are common in the corporate environment, particularly in employment and labor law in Romania, commercial law, fiscal law in Romania, and company insolvency in Romania. A well-structured strategy is essential to avoid potential financial losses and significantly reduce risks. Through a preventive approach and professional legal assistance, companies can avoid costly lawsuits and focus their resources on business development. In the event of a corporate dispute, a litigation lawyer in Romania from the Romanian Law Firm Pavel, Mărgărit and Associates can efficiently manage the case, ensuring the protection of the company’s rights and interests. Pavel, Margarit and Associates Law Firm is one of the top law firms in Romania, providing high-quality legal services. The firm’s clients include multinational and domestic companies of great magnitude. In 2024, the law firm’s success stories brought it international recognition from the most prestigious international guides and publications in the field. As a result, Pavel, Margarit and Associates Law Firm ranked 3rd in Romania in the Legal 500’s ranking of business law firms with the most relevant expertise. The law firm is internationally recognized by the IFLR 1000 Financial and Corporate 2024 guide. Additionally, Pavel, Margarit and Associates Law Firm is the only law firm in Romania recommended by the international director of Global Law Experts in London in the Dispute Resolution practice area. All relevant information about Pavel, Margarit and Associates Law Firm can be found on the website www.avocatpavel.com.

What can you do in this case and how can a property restitution lawyer in Romania assist you? In the context of Emergency Ordinance No. 107/2024, ANRP in Romania has temporarily suspended the issuance of payment titles until the end of the year. Additionally, outstanding payments will only be made within the limits of the available budget. In this context, it is essential for the series of property restitution files in Romania to be prepared in advance, and for the holders to benefit from qualified legal advice from a restitution lawyer in Romania or real estate lawyer in Romania to avoid further delays and protect the right of ownership in Romania. The Romanian Law Firm Pavel, Mărgărit and Associates recommends seeking the services of a property lawyer in Romania in property restitution files in Romania to urgently initiate the necessary administrative and judicial procedures for enforcing rights, including submitting requests for the compensation points in Romania, filing appeals when necessary, and conducting a thorough analysis of the property files in Romania. Additionally, our team, consisting of restitution lawyer in Romania, specialized restitution lawyers in Romania, and real estate lawyer in Romania, provides representation before CNCI in Romania and the competent courts, ensuring the effective protection of right of ownership in Romania and maximizing the chances of obtaining compensation points in Romania. What can you do when the payment procedure is suspended? Even though the ANRP in Romania payment procedure is suspended, the process of submitting requests and obtaining compensation points in Romania continues. Eligible individuals can file an appealing a decision in Romania, verify the accuracy of property restitution files in Romania, or opt for real estate restitution in Romania if possible. The Romanian Law Firm Pavel, Mărgărit and Associates offers comprehensive legal advice for such situations through teams coordinated by a restitution lawyer in Romania and real estate lawyer in Romania, who can evaluate each case individually. At this stage, conducting a due diligence report is essential to highlight potential risks and untapped rights within the property restitution files in Romania. A restitution lawyer in Romania provides specialized legal assistance in preparing and filing an appealing a decision in Romania, in the case of unfavorable outcomes, a complete review of documents and records, representation by specialized restitution lawyers in Romania before institutions and authorities, advice regarding property evaluation in accordance with the notary grid, and last but not least, assistance in filing requests for ANRP compensation payments in Romania. How was the payment procedure for the ANRP in Romania payment titles suspended? The suspension of the payment procedure for the titles issued by the National Authority for Property Restitution (ANRP in Romania) was regulated by Emergency Ordinance No. 107/2024, published in the Official Gazette on September 6, 2024. According to this regulation, the issuance of payment titles based on Law No. 165/2013 and Law No. 164/2014 is suspended until December 31, 2024. Furthermore, ANRP in Romania compensation payments related to titles issued until June 30, 2024, will only be made within the available budget credits, which may result in significant delays. Real estate restitution in Romania of properties unlawfully taken by the state during the communist period In many cases, real estate restitution in Romania can be a more efficient solution than waiting for financial compensation. This is only possible if clear property deeds exist, proof of unlawful nationalization is available, and if the properties have not been transferred to third parties. Our team, consisting of restitution lawyer in Romania and specialized restitution lawyers in Romania, can quickly assess the situation of the property, prepare the necessary documentation, and submit requests to CNCI in Romania or the court. The lawyer team prepares a due diligence report for each case to verify any encumbrances, ongoing litigations, invalid entries, or discrepancies between documents and cadastral reality. Our legal services include drafting requests for real estate restitution in Romania, as well as representation before the competent authorities, both in the administrative phase and in contentious procedures, by specialized restitution lawyers in Romania. We also conduct a thorough verification of the validity of the right of ownership based on historical documents and applicable legislation, to ensure the correct foundation of the request. We estimate the market value of the properties based on the updated grila notarială (notary grid), and in case of refusal of restitution, we provide assistance and representation in real estate disputes in Romania to protect our client’s rights. “The suspension of the payments by ANRP in Romania should not constitute an obstacle in the process of property restitution. Our team of lawyers, specialized in property restitution in Romania and real estate disputes in Romania, is ready to provide effective legal solutions and support clients before the competent authorities, ensuring that their rights are respected and protected moving forward,” said Dr. Radu Pavel, Managing Partner of The Romanian Law Firm Pavel, Mărgărit and Associates. The Romanian Law Firm Pavel, Mărgărit and Associates provides full legal assistance in the field of property restitution and compensation, offering consulting and representation before the competent authorities, including ANRP in Romania and CNCI in Romania. Do not hesitate to contact us by accessing the form on our website: https://avocatpavel.com/contact/. In conclusion, considering the complexity and dynamics of the property restitution in Romania and compensation procedures in Romania, it is essential that eligible individuals benefit from specialized legal assistance from a team of experienced lawyers. The Romanian Law Firm Pavel, Mărgărit and Associates provides complete support, from analyzing the documentation and preparing requests for real estate restitution in Romania or real estate in Romania, to representing clients in real estate disputes in Romania and appealing a decision in Romania. Pavel, Margarit and Associates Law Firm is one of the top law firms in Romania, providing high-quality legal services. The firm’s clients include multinational and domestic companies of great magnitude. In 2024, the law firm’s success stories brought it international recognition from the most prestigious international guides and publications in the field. As a result, Pavel, Margarit and Associates Law Firm ranked 3rd in Romania in the Legal 500’s ranking of business law firms with the most relevant expertise. The law firm is internationally recognized by the IFLR 1000 Financial and Corporate 2024 guide. Additionally, Pavel, Margarit and Associates Law Firm is the only law firm in Romania recommended by the international director of Global Law Experts in London in the Dispute Resolution practice area. All relevant information about Pavel, Margarit and Associates Law Firm can be found on the website www.avocatpavel.com.

Why It’s Important to Seek a Lawyer’s Help Before Signing the Sale and Purchase Agreement Given the unstable context the real estate market in Romania is currently experiencing, many buyers are facing significant risks when choosing to purchase real estate that is still in the project phase. The Nordis case has become emblematic of such abuses by developers, serving as one of many reasons why, when deciding to make such an investment, it is imperative to consult a real estate lawyer in Romania and request a complete due diligence lawyer in Romania report. A real estate litigation lawyer in Romania or a property lawyer in Romania can easily identify any potentially abusive contractual clauses present in a sale and purchase agreement. These clauses often conceal unjustified deadlines, disproportionate penalties, and the absence of fundamental guarantees. A real estate litigation lawyer in Romania can provide detailed explanations regarding the legal implications of transferring the right of ownership in Romania under uncertain conditions. Additionally, checking the land registry and requesting an updated land book excerpt in Romania can help identify potential disputes involving the property or whether it is encumbered. Real Estate Lawyer in Romania for Construction. When Developers Fail to Deliver: What Are Your Legal Options? The Nordis case highlighted the consequences when buyers are not sufficiently protected. If, after signing a sale and purchase agreement, the developer fails to meet deadlines or contractual obligations, a real estate lawyer in Romania becomes indispensable for initiating legal action. In the absence of a valid construction authorization or a legitimate right of ownership in Romania from the developer, the entire transaction may be voided—hence the critical need for a due diligence report prepared by a due diligence lawyer in Romania. One of the most common issues in such disputes is the failure to register sale and purchase agreements in the land registry in Romania, thereby preventing the effective legal protection of the buyer’s rights. Property Lawyer in Romania. Due Diligence – What Documents to Request and What Questions to Ask? At the core of any secure purchase of real estate lies a correct and complete due diligence report in Romania. Whether you are a first-time buyer or an experienced investor, working with a due diligence lawyer in Romania can help you avoid costly legal traps and Nordis-type situations. The due diligence process in Romania is not a mere formality—it involves a thorough verification of all legal, technical, and administrative aspects of a property. First and foremost, the land registry in Romania must be verified. It shows whether the property is free of encumbrances, whether the right of ownership in Romania is clear, and whether there are no prohibitions or mortgages. It also reveals whether the property is involved in any litigation or foreclosure proceedings. Therefore, obtaining an updated land book excerpt in Romania is mandatory. The next step would be checking the existence of a construction authorization in Romania. Its absence or any deviation from it may lead to demolitions or the impossibility of connecting the property to utilities. A real estate litigation lawyer in Romania can identify such risks and help ensure the documentation is complete and valid. To receive full legal advice and assistance from a real estate lawyer in Romania, real estate litigation lawyer in Romania, or civil litigation lawyer in Romania in order to obtain a solid due diligence report in Romania, identify abusive contractual clauses, and protect your right of ownership in Romania, we invite you to contact us through the form on our website: https://avocatpavel.com/contact. A property lawyer in Romania will analyze not only the documents presented but also any ambiguities within the contract, giving you a complete picture of the risks involved. Furthermore, they can assist in renegotiating certain clauses or even in withdrawing from a risky transaction, thus avoiding unpleasant situations for buyers. In the end, a solid due diligence report in Romania provides the peace of mind that your investment is safe, legal, and protected—especially in a real estate market in Romania where most buyers only discover the risks they’ve taken after signing. Real Estate Lawyer in Romania. What the Nordis Law Provides and How Effective It Is in Protecting Clients Given the current state of the real estate market in Romania, the Nordis Law has been adopted. Once implemented, it could significantly change how purchase of real estate transactions in Romania are conducted. On April 14, 2025, the Romanian Senate adopted the Nordis Law in Romania, a legislative project aimed at reducing fraud in the real estate sector in Romania and protecting those interested in purchase of real estate in Romania. According to this new regulation, the advance that developers can request when signing a promise of sale and purchase agreement may not exceed 15% of the total value of the property, with the remaining payments staged—25% upon completion of the structure and another 25% when installations are finished. A particularly important aspect emphasized by the Nordis Law in Romania is the obligation to register promises of purchase of real estate in Romania in the land registry in Romania. The absence of this registration allows for the same property to be sold to multiple individuals, without the right of ownership in Romania being legally protected. Therefore, an updated land book excerpt in Romania becomes a fundamental tool in any due diligence report in Romania. Furthermore, the Nordis Law in Romania stipulates that advance payments must be kept in a bank account dedicated exclusively to financing building construction. Non-compliance with this condition results in severe penalties, including a fine amounting to 1% of the developer’s turnover. This measure aims to ensure financial transparency and reduce the risk of misappropriation of funds. In the event of the developer’s bankruptcy, the Nordis Law in Romania offers buyers the status of privileged creditors. However, due to the lack of precedence over secured creditors, the applicability of this provision remains limited. “Considering the increasing complexity of real estate transactions in Romania and the risks associated with cases like Nordis, the assistance of a real estate lawyer in Romania, real estate litigation lawyer in Romania, or property lawyer in Romania is no longer a mere advantage but an essential requirement for a secure purchase of real estate in Romania and effective protection of the right of ownership in Romania,” stated Dr. Radu Pavel, Coordinating Lawyer at the Romanian Law Firm Pavel, Mărgărit & Associates. Nonetheless, the law does not eliminate the risk of abusive contractual clauses in the agreements offered, which is why it is crucial for all property documents in Romania, including the sale and purchase agreement, construction authorization in Romania, and land registry excerpt in Romania, to be thoroughly reviewed as part of a full due diligence report in Romania. Proper implementation of this law could encourage safe purchase of real estate in Romania, where rights are protected and access to information is transparent. Without consulting a real estate lawyer in Romania or thoroughly reviewing essential property documents in Romania such as the sale and purchase agreement, land registry in Romania, and town planning certificate in Romania, the risks remain. Pavel, Mărgărit & Associates Romanian Law Firm is one of Romania’s leading law firms, delivering top-tier legal services. Its clientele includes prominent multinational and local companies. In 2025, the firm’s successful track record earned it international recognition from the most prestigious legal guides and publications. This year, Pavel, Mărgărit & Associates ranked 3rd in Romania in the Legal 500’s listing of business law firms with the most relevant expertise. The firm is also recognized internationally by IFLR1000 Financial and Corporate 2025. Furthermore, it is the only Romanian law firm recommended by the London-based Global Law Experts directory in the practice area of Dispute Resolution. All relevant information about Pavel, Mărgărit & Associates Romanian Law Firm can be found on their website: www.avocatpavel.ro.

The Procedure for Compensation in Points from ANRP According to official reports from the National Authority for Property Restitution (ANRP), compensation granted in the form of ANRP points is the most common solution when property restitution in Romania is not possible in kind. In February 2025, ANRP in Romania reviewed 161 property files in Romania and issued 88 ANRP decisions, totaling over 100 million points. Additionally, in May 2024, the institution issued 493 ANRP decisions, awarding more than 555 million ANRP points to beneficiaries. These figures highlight the scope of the process and the fact that ANRP points remain a central tool in the ANRP compensation mechanism. The ANRP compensation process begins with the submission of a claim from those who consider themselves entitled to property restitution in Romania. After reviewing the documentation and the legal basis, the National Authority for Property Restitution issues an ANRP decision, in which, if the claim is approved, the value of the compensation is determined in ANRP points. This value in ANRP points varies depending on several factors, including the type and estimated value of the claimed property, as well as standardized evaluation criteria established by the authority. Subsequently, these ANRP points can be converted into money, according to the applicable legal procedures. However, there are situations where beneficiaries believe that the evaluation does not reflect the true value of the property for which they are requesting ANRP compensation. In such cases, they have the right to appeal an ANRP decision. An ANRP lawyer can provide adequate legal advice, assist in preparing the case file, and represent the interests of the entitled person both before the institution and in any subsequent procedures. Real Estate Lawyer in Romania. How to Appeal an ANRP Decision In the event of receiving an ANRP decision in Romania and believe it does not accurately reflect the compensation value; you have the right to appeal it. A formal appeal in Romania can be submitted to the competent court. In this context, the support of a litigation lawyer in Romania with expertise in property restitution in Romania becomes essential, as the lawyer understands the applicable legal framework and can ensure the claimant’s rights are fully exercised. In court, the litigation lawyer in Romania will use all legal means to demonstrate that the compensation points in Romania were miscalculated or certain legal aspects were overlooked by the authorities. A real estate lawyer in Romania can also help analyze the property files in Romania and identify possible errors such as misclassification of property or miscalculation of the compensation points in Romania. Restitution Lawyer in Romania. The CNCI Procedure Another crucial aspect of the ANRP compensation process in Romania is the procedure before the CNCI in Romania (National Commission for the Compensation of Properties), which has the authority to analyze property files in Romania and intervene when there are discrepancies regarding the compensation points in Romania. The CNCI in Romania plays an important role in determining the final value of the compensations and in resolving disputes between applicants and the authorities. If a case is referred to CNCI in Romania, obtaining legal support from a dispute resolution lawyer in Romania or real estate lawyer in Romania becomes essential, as they can manage the legal documentation accurately and effectively defend the claimants’ interests before the commission. For specialized legal advice and representation from a lawyer experienced in ANRP cases in Romania, including appeals or representation before CNCI in Romania, do not hesitate to contact us via the form on our website: https://avocatpavel.ro/contact/. Don’t navigate these challenges alone. Contact Us today for expert assistance tailored to your needs. Contact Us ANRP Lawyer in Romania. How Compensation Is Paid After the Decision The granting of an ANRP decision in Romania initiates the compensation payment process in Romania. Once the value of the compensation points in Romania is determined and accepted, payments will be made in accordance with prevailing legal regulations, either in full or in installments, depending on the specifics of the case. A real estate lawyer in Romania can offer detailed guidance on how these payments are made and the necessary steps to complete the process properly. “The ANRP compensation process has become increasingly technical and challenging to manage without in-depth legal knowledge. In this context, the support of a specialized lawyer is no longer just a useful resource, but a critical necessity for those seeking fair compensation,” — Dr. Radu Pavel, Managing Partner of Pavel, Mărgărit & Associates Romanian Law Firm. Obtaining compensation through ANRP in Romania and optimizing the value of compensation points in Romania is a complex process that demands a detailed understanding of the legislation and procedural steps involved. Whether you are filing an appeal, clarifying the real estate status in Romania, or appearing before the CNCI in Romania, each step requires precision and a strategic legal approach. Partnering with a property lawyer in Romania or a restitution lawyer in Romania is not just beneficial, but often necessary. A skilled legal expert can thoroughly analyze your case, identify irregularities, and support you throughout the process. Choosing a team with extensive expertise in ANRP compensation in Romania can make all the difference in securing the compensation you rightfully deserve. In conclusion, obtaining ANRP compensation and maximizing the value of ANRP points is a complex legal process that requires a detailed understanding of the legislative framework and procedural stages. Whether we are dealing with an ANRP decision contestation, clarification of real estate status, or representation before the CNCI, each step requires a rigorous approach. Working with an ANRP lawyer becomes not only useful but necessary, as they carefully analyze the file, identify any potential irregularities, and provide support throughout the process. Therefore, choosing a team with expertise in the ANRP field can be a significant advantage. Pavel, Mărgărit and Associates Law Firm is one of the top law firms in Romania, providing high-quality legal services. The firm’s clients include multinational and domestic companies of great magnitude. In 2025, the law firm’s success stories brought it international recognition from the most prestigious international guides and publications in the field. As a result, Pavel, Mărgărit and Associates Law Firm ranked 3rd in Romania in the Legal 500’s ranking of business law firms with the most relevant expertise. The law firm is internationally recognized by the IFLR 1000 Financial and Corporate 2025 guide. Additionally, Pavel, Mărgărit and Associates Law Firm is the only law firm in Romania recommended by the international director of Global Law Experts in London in the Dispute Resolution practice area. All relevant information about Pavel, Mărgărit and Associates Law Firm can be found on the website www.avocatpavel.com

Additional conditions for obtaining Romanian citizenship The process of obtaining Romanian citizenship has undergone significant changes in recent years, and statistical data clearly reflects this trend. Between 2018 and 2024, the number of Romanian citizenship application files fluctuated, with a steady increase during 2018-2019, but also a sharp decrease in approval rates in the following years. For example, in 2018, there were 93,787 applications, of which 88% were approved and 12% remained pending. In contrast, in 2023, only 0.37% of the 38,981 files were approved, the rest still being under evaluation. During the pandemic years (2020-2021), the number of applications dropped significantly due to the impact of social distancing and related restrictions. Thus, in 2020 only 20,871 files were submitted, and in 2021 this number slightly increased to 38,707. Nevertheless, the approval rate remained low. In 2024, 50,350 requests were submitted, but none were approved by the end of the year. The situation remained unchanged through March 2025, with 3,976 files currently submitted and none approved by the National Authority for Citizenship (ANC). This trend of increasing pending files and decreasing approval rates in Romania is directly influenced by recent legislative changes, which have introduced stricter conditions for obtaining Romanian citizenship. With the new legal provisions in place, the process of obtaining Romanian citizenship has become more rigorous, requiring applicants to meet new conditions for Romanian citizenship compared to previous years. One of the most important changes concerns Romanian language proficiency, which has now become a mandatory requirement for all applicants seeking to acquire Romanian citizenship by naturalisation in Romania or reacquisition of Romanian citizenship. Law no. 21/1991 on Romanian citizenship, particularly Articles 10 and 11, clearly stipulates that the applicant must demonstrate a certain level of competence in the Romanian language by presenting a language proficiency certificate issued by higher education institutions in Romania or other accredited institutions. In this context, an immigration lawyer in Romania plays a crucial role in the citizenship application in Romania process, providing lawyer advice in Romania and support throughout all phases. The Romanian law firm Pavel, Mărgărit & Associates provides specialized immigration services in Romania and legal assistance in the process of obtaining Romanian citizenship and representation before the National Authority for Citizenship or the Immigration Office. A Romanian citizenship lawyer ensures that every legal requirement, such as proof of Romanian language knowledge or other necessary conditions for Romanian citizenship, is fulfilled correctly and efficiently, minimizing both administrative and legal risks. Citizenship Attorney in Romania– Obtaining Citizenship by Birth The simplest way to obtain Romanian citizenship is by birth, for persons born on Romanian territory or whose parents are Romanian citizens. According to the law, individuals born on Romanian soil automatically acquire Romanian citizenship, except in certain special cases regulated by law. Similarly, those born outside Romania to Romanian parents have the right to acquire Romanian citizenship by birth, without needing to file a full citizenship application in Romania or meet any linguistic competence requirements. This is a much simpler and quicker process than naturalisation in Romania or reacquisition of Romanian citizenship, which impose significantly stricter conditions for obtaining Romanian citizenship. Romanian Citizenship Lawyer – Obtaining Citizenship by Naturalisation in Romania Naturalisation in Romania is the legal method by which foreign nationals can obtain Romanian citizenship, provided they fulfill the conditions imposed by the Romanian state. These conditions include legal residency in Romania for at least 8 years (or 5 years if married to a Romanian citizen), proof of Romanian language proficiency through certification (at least B1 level), and the applicant’s social and cultural integration. These requirements must be demonstrated through supporting documents such as employment proof, proof of social integration, and good legal conduct. For specialized lawyer advice in Romania and assistance from a citizenship attorney in Romania, including in cases of reacquisition of Romanian citizenship, please don’t hesitate to contact us via our online form: https://avocatpavel.ro/contact/. Don’t navigate these challenges alone. Contact Us today for expert assistance tailored to your needs. Contact Us Applicants must prove they are capable of actively participating in Romanian social and cultural life. At the time of citizenship application in Romania file submission, they must include identity documents, proof of residency in Romania, a Romanian language certificate, and other relevant paperwork. Due to the lengthy duration of the procedure, the need for lawyer advice in Romania is essential to help navigate the complex regulations and the new conditions for obtaining Romanian citizenship. Immigration Attorney in Romania – Obtaining Citizenship by Reacquisition In cases of reacquisition of Romanian citizenship, individuals who previously held Romanian citizenship but lost it due to emigration or voluntary renunciation may submit a request to the National Authority for Citizenship. The loss of citizenship often stems from prior laws or personal decisions, and loss of citizenship must be reviewed before reinstatement. The reacquisition of Romanian citizenship follows an administrative procedure whereby the applicant can regain citizenship status, provided certain conditions for obtaining Romanian citizenship are met. These include residency in Romania, background checks on the reason citizenship was lost, and proof of Romanian language proficiency. Foreign citizens applying for reacquisition of Romanian citizenship must submit a complete file, similar to the naturalisation in Romania process. A Romanian citizenship lawyer can be of great help in preparing and submitting the necessary documents. An immigration attorney in Romania provides full assistance in the citizenship application in Romania process, guiding clients through all stages, especially with the new conditions for obtaining Romanian citizenship and other legal requirements enforced by the Romanian authorities. A naturalization lawyer in Romania works closely with the Immigration Office in Romania and other relevant institutions to ensure the documentation is accurate and complete, making the process as efficient as possible and protecting the applicant’s interests. “Obtaining Romanian citizenship is no longer a simple formality. The new requirements demand a careful and well-documented approach. The support of a specialized immigration lawyer consultation in Romania is not just an advantage, but a real necessity for those seeking to obtain Romanian citizenship.” — Dr. Radu Pavel, Managing Partner of Pavel, Mărgărit & Associates Romanian Law Firm In conclusion, the procedure of obtaining Romanian citizenship has become significantly more demanding due to the new legal requirements, focusing primarily on the real integration of applicants into Romanian society. Therefore, requesting immigration lawyer consultation in Romania or professional assistance from a citizenship attorney in Romania or naturalization lawyer in Romania is highly recommended. Legal support through experienced immigration services in Romania, offered by a dedicated immigration attorney in Romania, ensures that clients receive accurate lawyer advice in Romania tailored to their specific case, especially in the context of residency application in Romania or after loss of citizenship. The Romanian Law Firm Pavel Mărgărit and Associates provides specialized immigration services in Romania at every stage, from risk analysis and tax compliance to the drafting and submission of administrative complaints and representation in court. With a team of Romanian citizenship lawyers in Romania and naturalization lawyers in Romania, we ensure the protection of our clients’ interests by reducing financial risks and maintaining legal stability in the context of increasingly complex regulations. Pavel, Mărgărit and Associates Law Firm is one of the top law firms in Romania, providing high-quality legal services. The firm’s clients include multinational and domestic companies of great magnitude. In 2025, the law firm’s success stories brought it international recognition from the most prestigious international guides and publications in the field. As a result, Pavel, Mărgărit and Associates Law Firm ranked 3rd in Romania in the Legal 500’s ranking of business law firms with the most relevant expertise. The law firm is internationally recognized by the IFLR 1000 Financial and Corporate 2025 guide. Additionally, Pavel, Mărgărit and Associates Law Firm is the only law firm in Romania recommended by the international director of Global Law Experts in London in the Dispute Resolution practice area. All relevant information about Pavel, Mărgărit and Associates Law Firm can be found on the website www.avocatpavel.com.

What should investors know about how companies spend the money from the stock exchange? Listing on the Bucharest Stock Exchange represents a significant step for any company that aims to raise capital, expand, and strengthen its market position. However, once funds from investors are accessed, companies listed on Bucharest Stock Exchange are obligated to use these resources transparently and efficiently, in line with the information presented in the listing prospectus and in compliance with the Companies Law and capital market regulations. The Romanian Law Firm Pavel, Mărgărit and Associates provides top legal services in the M&A practice area, assisting clients in due diligence in Romania and capital market transactions, whether it concerns the transfer of shares in Romania, business share purchase agreement in Romania, contract reviewing in Romania, business transfers in Romania or other mergers and acquisitions in Romania (M&A in Romania). We support both investors and listed companies in managing legal and financial risks associated with capital market transactions. Corporate lawyer in Romania. What do directors of listed companies on the stock exchange need to know about the use of investments raised through listing? Directors must use the funds obtained from listing (transfer of shares in Romania and assets in Romania) strictly for the purposes presented to investors in the public offering prospectus. Altering the destination of the raised investments can have legal consequences, especially if there has been no prior notification and approval from shareholders. Listed companies on the Bucharest Stock Exchange are required to publish periodic financial reports and information regarding the use of the raised funds, in accordance with the requirements of the Financial Supervisory Authority (ASF) and the Bucharest Stock Exchange. Administrators must act with due diligence in Romania, in the interest of the company and all shareholders. Unjustified expenditures, risky investments or lack of proper documentation for decisions can lead to the directors’ liability. The Romanian Law Firm Pavel, Mărgărit and Associates offers specialized legal services to assist directors and listed companies on the Bucharest Stock Exchange in ensuring compliance with legal obligations regarding the use of investments raised from listing and dividends for shareholders in Romania. Our team of business lawyer in Romania, corporate lawyer in Romania and company lawyer in Romania provides legal advice on drafting and contract reviewing in Romania, managing shareholder relations, ensuring compliance with the fund usage objectives stated in the prospectus, conducting due diligence in Romania and assisting in business share purchase agreement in Romania, transfer of shares in Romania and assets in Romania and other capital market operations for a joint stock company in Romania. Company lawyer in Romania. Due Diligence in Romania When purchasing or selling shares, any investor must carefully assess all legal implications of the transaction. A merger or acquisition in Romania (M&A in Romania) transaction is not limited to the transfer of transfer of shares in Romania and assets in Romania but also involves a thorough evaluation of potential risks and the preparation of a due diligence in Romania report. In this context, the support of an M&A lawyer is essential to ensure compliance with the provisions of the Companies Law and the applicable legal framework. The due diligence report should include an analysis of existing shareholders, examination of the company’s tax situation, and analysis of all commercial contracts. An experienced company lawyer will check for any ongoing litigation, analyze potential risks, and assist the client throughout the entire procedure. The Romanian Law Firm Pavel, Mărgărit and Associates offers top legal services for M&A transactions, capital market transactions and due diligence in Romania. Business lawyer in Romania. What should investors know about how companies spend the money from the stock exchange? The prospectus is the essential document that a company must prepare when listing on the Bucharest Stock Exchange and it is the primary source of information for investors regarding the company’s activities, financial situation, investment risks and how the funds raised from listing will be used in order to receive dividends for shareholders in Romania. The prospectus includes detailed information about the company, its shareholder structure, management team, relevant financial data, objectives of the public offering (how the raised funds will be used, for example, for investments, expansion or acquisitions), as well as legal, financial and market risks. The prospectus aims to protect investors and ensure the transparency of the listing process, serving as an essential legal tool in capital market transactions and for companies seeking to attract investments in Romania. “The experience of our team of corporate lawyers in Romania in mergers and acquisitions in Romania, M&A in Romania, contract reviewing in Romania, business transfers in Romania, share purchase agreement in Romania, transfer of shares in Romania represents a competitive advantage for any investor or company involved in capital market transactions,” said Dr. Radu Pavel, Managing Partner of The Romanian Law Firm Pavel, Mărgărit and Associates. The Romanian Law Firm Pavel, Mărgărit and Associates provides comprehensive legal assistance in M&A transactions, due diligence, contract reviewing in Romania, business transfers in Romania, start a business in Romania such as a joint stock company in Romania, sale a company in Romania and legal advice for Bucharest Stock Exchange listed companies. Don’t hesitate to contact us by visiting our contact page at https://avocatpavel.com/contact/. Don’t navigate these challenges alone. Contact Us today for expert assistance tailored to your needs. Contact Us Transparency and legal compliance are essential for protecting investors’ interests and ensuring the long-term success of a company listed on the Bucharest Stock Exchange. Once these funds are accessed, listed companies must use the raised resources in accordance with the objectives presented to investors in the public offering prospectus, respecting the regulations imposed by the Companies Law and the regulatory authorities such as the Financial Supervisory Authority (ASF) and the Bucharest Stock Exchange. In this context, The Romanian Law Firm Pavel, Mărgărit and Associates provides top legal advice for listed companies, supporting directors and investors in the due diligence process, investments in Romania, M&A transactions and ensuring that all operations comply with the current legislation. Our corporate lawyers in Romania, business lawyers in Romania and company lawyers in Romania provide full services for Bucharest Stock Exchange listed companies, from analyzing shareholder structures to verifying tax and contractual obligations, to preparing the necessary documentation. Pavel, Margarit and Associates Law Firm is one of the top law firms in Romania, providing high-quality legal services. The firm’s clients include multinational and domestic companies of great magnitude. In 2024, the law firm’s success stories brought it international recognition from the most prestigious international guides and publications in the field. As a result, Pavel, Margarit and Associates Law Firm ranked 3rd in Romania in the Legal 500’s ranking of business law firms with the most relevant expertise. The law firm is internationally recognized by the IFLR 1000 Financial and Corporate 2024 guide. Additionally, Pavel, Margarit and Associates Law Firm is the only law firm in Romania recommended by the international director of Global Law Experts in London in the Dispute Resolution practice area. All relevant information about Pavel, Margarit and Associates Law Firm can be found on the website www.avocatpavel.com.

How Can a Stock Exchange Lawyer in Romania Assist You in the Financial Recovery of Companies Listed on the Stock Exchange in Romania? Listed companies in Romania have a significant impact on the economic environment, as through the sale of shares, capital is attracted to finance large-scale projects that can contribute to economic growth and attract investments in Romania in the stock market in Romania (stock exchange in Romania). However, in a dynamic economic context, listed companies in Romania may face financial difficulties during the course of their business activity. The procedure of agreement with creditors in Romania represents a method of financial recovery and restructuring in Romania provided by the insolvency law, offering the possibility for listed companies in Romania to negotiate a restructuring plan with creditors who seek debt recovery in Romania. If the procedure of agreement with creditors in Romania (reorganization of the company in Romania) fails, the recovery method remains the insolvency proceedings in Romania. An example of such a case is represented by the situation of a large online furniture retailer in Romania, which did not receive approval for its restructuring plan and subsequently resulted in company insolvency in Romania. Given these companies’ exposure to the stock market in Romania, maintaining transparency and trust is essential. This article analyzes the procedure of agreement with creditors in Romania, the legal solutions available to listed companies, and how a corporate lawyer in Romania can provide assistance for financial reorganization in Romania to avoid opening of insolvency proceedings in Romania. The Romanian law firm Pavel, Mărgărit, and Associates recommends consulting a business lawyer in Romania to provide the highest quality legal assistance to listed companies in Romania facing economic difficulties that threaten their stability (reorganization of the company in Romania). Insolvency Lawyer in Romania. Procedure of Agreement with Creditors in Romania The procedure of agreement with creditors in Romania represents a method of economic recovery, being a legal solution available to listed companies to avoid the insolvency proceedings in Romania and maintain the continuity of their economic activity. This procedure presents numerous advantages for listed companies, such as the possibility of negotiating a restructuring plan with creditors, offering an option to avoid insolvency or bankruptcy procedures, and allowing the suspension of forced executions. The procedure of agreement with creditors in Romania begins with submitting a request to the competent court, which will include the report prepared by the appointed administrator analyzing the state of difficulty, the appointment of an administrator, and the debtor’s declaration that it does not fall into the exceptional situations of companies that cannot resort to the procedure of agreement with creditors in Romania. The procedure of agreement with creditors in Romania can also be initiated at the request of creditors holding a certain, liquid, and due claims in Romania, with the debtor’s agreement. A commercial lawyer in Romania can assist in identifying the best financial recovery solution (reorganization of the company in Romania) for listed companies in Romania so that they maintain their market reputation and continue their economic activity through company restructuring in Romania. Stock Exchange Lawyer in Romania. The Impact of the Procedure of Agreement with Creditors in Romania on Listed Companies When listed companies in Romania face financial hurdles, initiating the agreement with creditors in Romania can be a measure to save their economic activity, having a significant impact on market perception and individuals contributing investments in Romania in the stock market in Romania. Over time, judicial practice has seen situations where listed companies failed to obtain approval for their restructuring plan, which led them to company insolvency in Romania. An insolvency lawyer in Romania can guide companies facing such difficulties to avoid provoking a negative reaction in the stock market in Romania. In situations where the agreement with creditors in Romania is necessary, a business lawyer in Romania can ensure that the company’s interests are protected by providing assistance, including drafting a restructuring plan to avoid debt recovery in Romania from the creditors and to increase the chances of successful recovery of the company in Romania. Corporate Lawyer in Romania. Strategic Solutions for Listed Companies in Romania (Insolvency in Romania vs. Agreement with Creditors in Romania) For listed companies facing financial challenges, the options of agreement with creditors in Romania and insolvency proceedings in Romania can directly impact operational stability and reputation in the stock market in Romania (stock exchange in Romania). As mentioned earlier, the agreement with creditors in Romania and insolvency proceedings in Romania can directly impact operational stability and reputation involves negotiating a restructuring plan with creditors who are seeking debt recovery in Romania. This procedure represents a benefit, as it is a faster, more discreet, and financially advantageous solution, achievable only with the creditors’ support. On the other hand, insolvency in Romania represents a longer and more restrictive procedure in terms of operational control. Although insolvency in Romania is also a financial recovery tool (and a tool for debt collection in Romania for creditors), it can generate uncertainties among individuals who wish to make investments in Romania in the stock market in Romania, contributing to reduced investor confidence and negatively influencing commercial relations. A commercial lawyer in Romania can assist in analyzing the financial situation and proposing an efficient economic recovery strategy so that companies maintain their reputation in the stock market in Romania and ensure the continuity of their activity through company restructuring in Romania. Business Lawyer in Romania. How a Commercial Lawyer in Romania Can Help Listed Companies in the Procedure of Agreement with Creditors in Romania? An insolvency lawyer in Romania can be a key partner in the agreement with creditors in Romania for listed companies in Romania. A corporate lawyer in Romania can analyze the debtor’s economic situation, assist in drafting the necessary documentation, such as the request to open the procedure of agreement with creditors in Romania, prepare a plan for company restructuring in Romania, and assist in negotiations for payment deferrals or reductions of claims in Romania, among others. Furthermore, a stock exchange lawyer in Romania ensures that the debtor’s interests and legal regulations are respected, developing an effective strategy to maintain the company’s stability, prevent a drastic decline in share value, and increase the chances of reorganization in Romania. The Romanian law firm Pavel, Mărgărit, and Associates offers a wide range of legal services, including consulting on the opening of the procedure of agreement with creditors in Romania, analyzing or drafting related documentation, and proposing effective solutions tailored to each company. A business lawyer in Romania from the team can assist in any process to protect your interests. Do not hesitate to contact us by accessing the contact form on our website https://avocatpavel.com/contact/. Don’t navigate these challenges alone. Contact Us today for expert assistance tailored to your needs. Contact Us “A lawyer specializing in financial restructuring in Romania plays a crucial role in guiding companies through complex legal procedures, ensuring that each step of the recovery process complies with both legal regulations and the long-term interests of all parties involved,” stated Dr. Av. Radu Pavel, the Managing Partner of the Romanian law firm Pavel, Mărgărit, and Associates. In conclusion, the agreement with creditors in Romania can be an effective legal solution for listed companies in Romania facing financial difficulties. This solution allows a company in Romania to restructure their debts while maintaining commercial relationships without losing their position in the stock market in Romania. The Romanian law firm Pavel, Mărgărit, and Associates is internationally recognized for its legal expertise in restructuring in Romania and judicial reorganizations, and a stock market lawyer can offer quality legal expertise to ensure compliance with market regulations, negotiate with creditors who seek debt collection in Romania, and protect interests. The Romanian law firm Pavel, Mărgărit, and Associates is one of the top law firms in Romania, providing the highest quality legal services. Among the firm’s clients are large multinational and domestic companies. In 2024, the firm’s success stories earned it international recognition from the most prestigious legal directories and publications. Thus, Pavel, Mărgărit, and Associates ranked third in Romania in the Legal 500 business law firm ranking. The firm is also recognized by the IFLR 1000 Financial and Corporate 2024 guide. Furthermore, Pavel, Mărgărit, and Associates is the only law firm in Romania recommended by the international director Global Law Experts in London in the area of Dispute Resolution. All relevant information regarding Pavel, Mărgărit, and Associates can be found on the website www.avocatpavel.com.

Conditions and Essential Steps for Listing on the Capital Market At the Bucharest Stock Exchange listed companies (BVB), the number of listed companies has varied over the years. Currently, in 2025, there are 83 listed companies, both private and state-owned, operating in a regulated and transparent environment. In this context, listing on the stock exchange can be a strategic opportunity for any company looking to develop and attract capital. The listing process requires compliance with strict regulations but offers, in return, access to a broad investor market and greater visibility. The Romanian Law Firm Pavel, Mărgărit and Associates provides legal assistance and representation in corporate law, investments in Romania, stock exchange transactions and all stages of the listing process on BVB. A Stock exchange lawyer in Romania and a business lawyer in Romania provide specialized legal consultancy for registering as a company in Romania, transforming from an LLC into a joint stock company and opening businesses thus facilitating access to the capital market in Romania and contributing to meeting the conditions for stock exchange listing and ensuring long-term success. Conditions for Stock Exchange Listing and Essential Steps for Listing on the Capital Market To be part of the Bucharest Stock Exchange listed companies, a company must be a joint stock company (SA), have equity or a capitalization of at least 1 million euros, have at least 25% of shares available for trading, and have been active on the market for at least three years. There are two ways to issue shares on the stock exchange: selling new shares to raise funding or selling an existing share package by shareholders. In both cases, the decision must be approved by the Board of Directors and the General Meeting of Shareholders. For listing, there are three methods, namely initial Public Offering (IPO), which involves issuing new shares and requires a prospectus approved by authorities, private placement, addressed to a limited number of investors and does not require an approved prospectus, technical listing, which does not involve a share offering and only requires admission to trading, still needing a prospectus. The listing process involves a detailed analysis of the company’s legal and tax structure. In this regard, The Romanian Law Firm Pavel, Mărgărit and Associates, with the support of a Stock exchange lawyer in Romania, corporate lawyer in Romania and business lawyer in Romania from Corporate, Commercial and M&A Department, can provide legal assistance to guide company representatives throughout the listing process and ensure compliance with companies law. Transforming an LLC into a Joint Stock Company If, during the start a business in Romania, register as a company in Romania and launching a business in Romania, companies were established as LLCs, an important step for listing on the Bucharest Stock Exchange listed companies is their transformation from a limited liability company (LLC) into a joint stock company. The transformation process involves several stages. First, the company must amend its articles of incorporation to reflect the new legal requirements specific to a joint stock company, including changing the capital structure and company organization method. For example, under companies law, an LLC has share capital divided into shares, whereas in the case of a joint stock company, the capital is divided into shares that can be traded on the stock market in Romania. Another important stage is choosing an appropriate management system. In the case of an LLC, management is usually ensured by one or more shareholders or directors, whereas, in the case of a joint stock company, it must be handled by a Board of Directors, in accordance with the legal regulations under companies law. Additionally, the transformation involves adjusting the capital structure, considering that a joint stock company can issue shares distributed to shareholders and traded on the stock exchange. Furthermore, the company must establish an appropriate corporate governance system and ensure compliance with all regulations imposed by the Financial Supervisory Authority and the Bucharest Stock Exchange listed companies. These steps are essential to transition from an LLC to a joint stock company and prepare the company for stock exchange listing, providing access to capital from the capital market in Romania and the opportunity to attract investors. Investments in Romania and opportunities for starting a business in Romania Romania offers a favorable environment for starting a business in Romania and investments in Romania. In this context, companies looking to list on the Bucharest Stock Exchange listed companies can benefit from numerous opportunities to attract capital and expand in the local and international markets. The process of register as a company in Romania, starting a business in Romania and launching a business in Romania is simplified by business-friendly regulations and support from financial and governmental institutions. The Romanian Law Firm Pavel, Mărgărit and Associates provides legal services for register as a company in Romania, assisting clients in company formation in Romania, preparing necessary documentation, and offering specialized legal assistance in commercial law. Additionally, for companies looking to diversify their investment portfolios and participate in stock market in Romania transactions, investments in Romania can be a profitable opportunity. Listed companies in Romania are attractive to investors due to financial transparency and strict regulations that ensure their protection. The Romanian Law Firm Pavel, Mărgărit and Associates offers a wide range of legal services, including consultancy in stock market in Romania transactions, assisting companies in the stock exchange listing process, transforming from an LLC into a joint stock company, as well as all legal aspects of launching a business in Romania, starting a business in Romania and register as a company in Romania. A Stock exchange lawyer in Romania, corporate lawyer in Romania, or business lawyer in Romania provides innovative and effective legal solutions for any company looking to expand its business and invest in stock. Do not hesitate to contact us by accessing the contact form on our website https://avocatpavel.com/contact/. Don’t navigate these challenges alone. Contact Us today for expert assistance tailored to your needs. Contact Us “Transforming a company from an LLC to a joint stock company is an essential step for accessing the capital market in Romania and attracting financing. This process involves amending the articles of incorporation, adjusting the capital structure, and adopting a management system in accordance with current regulations. Additionally, it is essential for the company to comply with the requirements imposed by law to ensure transparency and investor protection,” said Dr. Radu Pavel, the Managing Partner of The Romanian Law Firm Pavel, Mărgărit and Associates. In conclusion, stock exchange listing on the Bucharest Stock Exchange listed companies represents a strategic opportunity for companies looking to attract capital, increase visibility, and benefit from a regulated and transparent framework. The process involves compliance with strict companies law requirements, but companies that choose stock exchange listing can enjoy multiple financial and strategic advantages. The Romanian Law Firm Pavel, Mărgărit and Associates supports companies at all stages of this process, providing specialized legal consultancy in Corporate Law, Commercial law and invest in stock transactions for listed companies in Romania.Pavel, Margarit and Associates Law Firm is one of the top law firms in Romania, providing high-quality legal services. The firm’s clients include multinational and domestic companies of great magnitude. In 2024, the law firm’s success stories brought it international recognition from the most prestigious international guides and publications in the field. As a result, Pavel, Margarit and Associates Law Firm ranked 3rd in Romania in the Legal 500’s ranking of business law firms with the most relevant expertise. The law firm is internationally recognized by the IFLR 1000 Financial and Corporate 2024 guide. Additionally, Pavel, Margarit and Associates Law Firm is the only law firm in Romania recommended by the international director of Global Law Experts in London in the Dispute Resolution practice area. All relevant information about Pavel, Margarit and Associates Law Firm can be found on the website www.avocatpavel.com.

What legal solutions can be adopted in case of a dispute with ANAF? Recently, the National Agency for Fiscal Administration (ANAF in Romania) has intensified controls regarding money transfers between individuals, including transfers between relatives. The purpose of ANAF’s inspections is to sanction illicit transactions and combat tax evasion related to incomes whose source cannot be justified. According to Law No. 296/2023 on certain fiscal-budgetary measures to ensure Romania’s long-term financial sustainability, a 70% tax is applied to incomes that ANAF in Romania cannot identify, and the tax authority issues a tax notice of assessment in Romania for individuals in this regard. This article analyzes the legal ways to conduct money transfers, types of disputes taxpayers may have with ANAF regarding tax liabilities, and legal solutions available to taxpayers in case of an abusive notice of assessment in Romania. The Romanian law firm Pavel, Mărgărit & Associates recommends consulting a tax lawyer in Romania or an administrative attorney in Romania who can provide legal assistance and representation in any type of dispute of tax law in Romania with tax authorities and advise on conducting transactions legally to avoid unjustified taxation. Tax lawyer in Romania. How to transfer money between relatives without facing tax issues? A tax assessment in Romania for individuals represents a document issued by the National Agency for Fiscal Administration (ANAF in Romania) that establishes a payment obligation. Most often, a tax assessment in Romania is issued after the tax authority verifies certain transactions and determines that they cannot be justified. The Fiscal Code defines taxable and non-taxable income categories, and upon reviewing the relevant articles, it becomes evident that donations are not subject to taxation. Thus, money transfers between relatives can be considered donations, and to justify them, it is advisable to conclude a donation contract in an authentic form. Furthermore, for monetary transfers, it is recommended to use precise notations to clearly indicate the nature of the payments. The absence of supporting documents may lead to the issuance of a notice of assessment in Romania for individuals and the application of a 70% tax on funds whose origin cannot be justified. A lawyer for taxes in Romania can provide legal advice on carrying out transactions, including drafting a donation contract to outline the nature and purpose of the transfer. This ensures that, in the event of a tax audit, ANAF does not misinterpret the transfer and issue a tax notice of assessment in Romania. Administrative lawyer in Romania. Types of disputes with ANAF In practice, various disputes may arise between ANAF and taxpayers, particularly in cases of contesting a decision of tax assessment in Romania for incomes with an unjustified origin. Often, the tax authority may consider certain sums as taxable income if there are no documents proving their source, applying a 70% tax. However, there are situations where these incomes are not taxable, leading taxpayers to contest ANAF’s decision of tax assessment in Romania. Another common type of dispute involves forced execution for tax debts. If a taxpayer opposes this, they can file an objection to enforcement. Another example of disputes with tax authorities relates to the statute of limitations for establishing tax liabilities. It may happen that the tax authority issues a tax notice of assessment in Romania, and the taxpayer contests it based on the five-year statute of limitations as stipulated in the Fiscal Procedure Code in Romania. An administrative law lawyer in Romania or an administrative attorney in Romania can provide top-quality legal representation in disputes of tax law in Romania by drafting a tax appeal in Romania and representing taxpayers in court. Fiscal lawyer in Romania. How can a lawyer assist in administrative litigation issues? When a taxpayer faces tax-related issues regarding legal money transfers between relatives and the risk of a 70% tax being applied, consulting a lawyer for taxes in Romania is crucial for protecting their rights and avoiding penalties. The verification process relies on supporting documents such as a donation contract or payment proofs that include detailed transaction descriptions. An administrative law lawyer in Romania can assist in drafting a donation contract and provide legal support in case of disputes with ANAF in Romania by contesting the tax assessment decision and representing the taxpayer in both administrative procedures and court proceedings. An administrative attorney in Romania plays a key role in managing tax litigation, acting as a crucial partner in handling tax disputes and offering taxpayers effective defense strategies. Lawyer for taxes in Romania. Legal solutions for abusive tax assessment decisions An abusive decision of tax assessment in Romania can significantly impact taxpayers, which is why the Fiscal Procedure Code in Romania allows to appeal a decision in Romania within 45 days from the date of notification, under penalty of forfeiture. According to the provisions of the Fiscal Procedure Code in Romania, a tax appeal in Romania objection may be fully or partially admitted or rejected. If a favorable outcome is not obtained, a taxpayer can take the case to an administrative court to request annulment of the imposed tax liability. An administrative lawyer in Romania can provide specialized legal assistance and representation before the administrative court to challenge the decision of tax assessment in Romania. The Romanian law firm Pavel, Mărgărit & Associates has extensive experience in tax law in Romania, particularly to appeal a decision in Romania. A fiscal lawyer in Romania can assist in any legal action aimed at protecting taxpayers’ interests. For legal consultation, contact a tax attorney in Romania from our firm by accessing the contact form on our website: https://www.avocatpavel.com/contact-us/ to benefit from the best legal solutions. Don’t navigate these challenges alone. Contact Us today for expert assistance tailored to your needs. Contact Us “Taxpayers have the right to challenge any decision of tax assessment in Romania that unjustifiably affects their financial interests. A specialized approach by an administrative lawyer in Romania is recommended to protect taxpayers’ rights and interests,” stated Dr. Av. Radu Pavel, Managing Partner of the Romanian Law Firm Pavel, Mărgărit & Associates. In conclusion, for abusive tax assessment decisions, taxpayers have multiple legal solutions available, from tax appeal in Romania to taking legal action in court. The recent application of a 70% tax on money transfers between relatives has sparked controversy, which is why the Romanian law firm Pavel, Mărgărit & Associates recommends consulting a tax attorney in Romania who can provide specialized advice on properly documenting transactions and complying with legal requirements. Pavel, Margarit and Associates Law Firm is one of the top law firms in Romania, providing high-quality legal services. The firm’s clients include multinational and domestic companies of great magnitude. In 2024, the law firm’s success stories brought it international recognition from the most prestigious international guides and publications in the field. As a result, Pavel, Margarit and Associates Law Firm ranked 3rd in Romania in the Legal 500’s ranking of business law firms with the most relevant expertise. The law firm is internationally recognized by the IFLR 1000 Financial and Corporate 2024 guide. Additionally, Pavel, Margarit and Associates Law Firm is the only law firm in Romania recommended by the international director of Global Law Experts in London in the Dispute Resolution practice area. All relevant information about Pavel, Margarit and Associates Law Firm can be found on the website www.avocatpavel.com.

Foreign Direct Investments in Romania: Opportunities, Regulations, and Legal Assistance Foreign direct investments in Romania play an essential role in the country’s economic development, significantly impacting job creation, technology transfer, and the strengthening of key sectors. However, global economic developments and the geopolitical context have influenced the flow of FDI in Romania in recent years. Although a decrease was recorded in 2023, Romania remains an attractive destination for foreign investments in Romania, offering a favorable legal framework and opportunities in various industries. The Romanian Law Firm Pavel, Mărgărit and Associates recommends that investors apply for specific legal consultancy services, including assistance with company formation, business structure optimization, mergers and acquisitions (M&A in Romania), FDI investment in Romania, real estate investing in Romania, intellectual property protection (patents, trademarks, copyrights), managing real estate transactions through a real estate lawyer in Romania, and ensuring compliance with local and international regulations. These services will help protect the interests and foster the development of investors’ businesses in Romania. Statistics and legal status of Foreign Direct Investments in Romania (FDI investment in Romania) In 2023, Romania attracted foreign direct investments in Romania worth EUR 6.748 million, marking a 36.3% decrease in the country rating (Fitch) compared to the previous year. This comes after two years of growth, following a record level of EUR 10.587 million in 2022. The negative trend is due to global trends and is mainly influenced by economic uncertainties and geopolitical tensions, generated by the prolonged war in Ukraine and the conflict in the Middle East. In this context, foreign investors in Romania and business investors in Romania have adopted a more cautious strategy regarding international expansion. The decline in FDI in Romania and foreign development investment in Romania brings Romania back to the levels of previous years. Between 2020 and 2022, the foreign investments in Romania increased steadily, from EUR 3.01 billion in 2020 to a peak of EUR 10.58 billion in 2022, followed by a significant decrease in 2023, when they reached EUR 6.74 billion. Foreigners’ right to own property resulting from foreign direct investments in Romania Foreign investors in Romania have the right to own and manage property resulting from foreign direct investments in Romania, benefiting from national treatment and free access to the domestic market. Investors can set up and manage businesses, participate in the economic circuit, and enjoy many other benefits. on the ownership of buildings and commercial assets, foreign individuals (foreign investors in Romania and business investors in Romania) cannot own land in Romania, but they can acquire it through a company established in Romania. A real estate lawyer in Romania from The Romanian Law Firm Pavel, Mărgărit and Associates can offer essential assistance to foreign investors in Romania who wish to purchase, own or manage real estate in Romania. A specialized lawyer offers legal advice to foreign investors regarding the entire legislative framework applicable in Romania to avoid risks in transactions and beyond. Double taxation conventions regarding FDI investment in Romania Romania has signed several double taxation avoidance conventions and bilateral investment treaties, including with the United States, to support foreign direct investments in Romania and long term investment in Romania. These agreements provide clear rules for the taxation of income and investor protection, ensuring fair treatment and preventing double taxation. Guarantees against expropriation and compensation The legislation regarding foreign investments in Romania guarantees protection in the areas of nationalization, expropriation, and other equivalent actions, offering investors the possibility to choose the competent court for resolving any disputes. However, some claims related to properties nationalized during the communist period have not been resolved, which is why foreign investors in Romania and business investors in Romania should conduct a thorough check of the property titles issued to ensure that the properties are not subject to restitution claims. In the case of expropriation for public utility purposes, an expropriation lawyer in Romania from The Romanian Law Firm Pavel, Mărgărit and Associates can provide legal advice, assist in the correct evaluation of compensation, and represent the investors’ interests before the authorities, ensuring that the process is carried out in accordance with the expropriation law in Romania. Protection provided to foreign investors through intellectual property rights in Romania Romania has made significant progress in protecting intellectual property rights in Romania, aligning with European Union legislation and relevant international treaties. Foreign investors in Romania benefit from protection of foreign development investment in Romania for patents, trademarks and copyrights, and the country has adopted measures to improve transparency and enforcement. Romanian authorities work closely with international institutions to combat counterfeiting and protect intellectual property rights in Romania, including coordination with the European Commission and anti-fraud offices. A corporate lawyer in Romania or business lawyer in Romania provides legal services for investors, including consultancy on business formation and structure, mergers and acquisitions (M&A in Romania), and intellectual property regulations. The team of lawyers at The Romanian Law Firm Pavel, Mărgărit and Associates assists foreign investors in Romania in protecting intellectual property rights, including patents, trademarks, and copyrights, offering solutions to prevent and manage disputes. Additionally, a corporate lawyer in Romania or business lawyer in Romania can provide legal assistance to investors in negotiating and drafting commercial contracts, complying with internal and international regulations, and optimizing business operations, ensuring a safe and compliant business environment for foreign direct investments in Romania and foreign investors in Romania. Sectors and industries covered by FDI investment in Romania In Romania, foreign direct investments in Romania and long term investment in Romania play a significant role in the country’s economic development, contributing to job creation, increased exports, and the transfer of advanced technologies. FDI in Romania covers a wide range of sectors and industries, each having a significant impact on the national economy. Foreign investors in Romania have identified significant opportunities in diverse sectors such as IT, the automotive industry, energy and mineral resources, retail and commerce, healthcare, transportation and logistics and the financial and banking sector. “Foreign direct investments in Romania are supported by a favorable legal framework that covers key sectors, offering investors a conducive environment for development and legal protection,” said Dr. Radu Pavel, the Managing Partner of The Romanian Law Firm Pavel, Mărgărit and Associates. Do not hesitate to contact us by accessing the contact form on our website https://avocatpavel.com/contact/ to discuss investment opportunities and the legal assistance needed for foreign direct investments in Romania and foreign development investment in Romania. Don’t navigate these challenges alone. Contact Us today for expert assistance tailored to your needs. Contact Us Romania continues to offer a favorable environment for foreign direct investments in Romania, through an adapted legislative framework and effective protection measures for investors. With diverse economic sectors and clear regulations regarding intellectual property rights, expropriation, and international treaties, the country remains an attractive place for investors in Romania who wish to expand their businesses. Adequate legal consultancy is essential to navigate these opportunities and minimize legal risks. The Romanian Law Firm Pavel, Mărgărit and Associates recommends turning to the services of a real estate lawyer in Romania, corporate lawyer in Romania, or business lawyer in Romania to ensure specialized legal consultancy tailored to the needs of each investor. Pavel, Margarit and Associates Law Firm is one of the top law firms in Romania, providing high-quality legal services. The firm’s clients include multinational and domestic companies of great magnitude. In 2024, the law firm’s success stories brought it international recognition from the most prestigious international guides and publications in the field. As a result, Pavel, Margarit and Associates Law Firm ranked 3rd in Romania in the Legal 500’s ranking of business law firms with the most relevant expertise. The law firm is internationally recognized by the IFLR 1000 Financial and Corporate 2024 guide. Additionally, Pavel, Margarit and Associates Law Firm is the only law firm in Romania recommended by the international director of Global Law Experts in London in the Dispute Resolution practice area. All relevant information about Pavel, Margarit and Associates Law Firm can be found on the website www.avocatpavel.com.

How to effectively challenge a dismissal decision through a labor lawyer in Romania? As provided in labor legislation, a legal employment relationship between an employee and an employer is governed by an employment contract in Romania, either an individual work contract in Romania or a collective labor agreement in Romania. The most common type of work contract in Romania is the open-ended employment contract in Romania. This is considered a stable and long-term beneficial type of contract, ensuring continuity and security in the professional relationship. Recently, there has been a significant increase in dismissals across Europe, including in Romania, leading to work disputes in Romania between employees and employers. To cope with economic difficulties, more and more companies in Europe have resorted to mass dismissals, undergoing internal restructuring procedures. In practice, it has been observed that, in most cases, employers resort to forced dismissal in Romania (dismissal for reasons unrelated to the employee), which is often an unjustified dismissal, having a devastating impact on well-intentioned employees who receive such a dismissal decision in Romania. Additionally, among other frequently encountered types of dismissals are dismissal during the probationary period and disciplinary dismissal in Romania. Summarizing the types of dismissals practiced, they fall into two main categories: Dismissal for reasons unrelated to the employee and dismissal for reasons related to the employee. The Romanian law firm Pavel, Mărgărit and Associates is a law firm who provides employment law services in Romania, and is internationally recognized for its expertise in work disputes in Romania. A labor lawyer in Romania from the team can assist you in protecting employee rights under labor law in Romania by reviewing a labor agreement in Romania, analyzing clauses of an employment contract in Romania, appealing a dismissal decision in Romania, and representing clients in labor litigation before the court. Employment solicitors in Romania. Rising dismissals in Europe Dismissals represent a significant issue in the current economic context, especially as their number has increased considerably in recent times. In many European countries, forced dismissal is a common practice, leaving employees in a disadvantaged position when it comes to protecting their rights according to the labor law in Romania. In this regard, this method of terminating an individual employment contract in Romania or a collective labor agreement in Romania is carried out through a dismissal decision in Romania. A dismissal decision in Romania is a unilateral legal act issued by an employer to terminate an open-ended or fixed-term labor agreement in Romania. The employer is required to justify the decision and include the notice period, contract termination date, right to challenge the decision, and other elements related to the legality of the dismissal. An employment attorney in Romania can provide expert legal advice by carefully reviewing a work contract in Romania and its clauses, as well as offering legal solutions for employees facing forced dismissal in Romania. Employment lawyer in Romania. Types of dismissal in Romania and employee rights under labor law in Romania The labor code in Romania provides for two main categories of dismissal: Dismissal for reasons unrelated to the employee and dismissal for reasons related to the employee. Regarding dismissal for reasons unrelated to the employee, this refers to the termination of an individual employment contract in Romania due to the elimination of the employee’s job position, for one or more reasons unrelated to the individual. The elimination must have a serious and real cause, and employees are entitled to active measures to combat unemployment and may receive compensation as provided by law. In general, dismissed employees are entitled to a notice period of at least 20 working days, except in the case of dismissal during the probationary period. Another reason for dismissal is for reasons related to the employee. The labor code in Romania provides for several situations in which this type of dismissal can occur: a) Disciplinary dismissal in Romania– if the employee has committed a serious violation or repeated breaches of work discipline rules, the individual work contract in Romania, the applicable collective labor agreement in Romania, or internal regulations. b) If the employee is placed in preventive detention or house arrest for more than 30 days. c) If the competent medical examination authorities determine that the employee has a physical and/or mental incapacity preventing them from performing their job duties. d) If the employee is deemed professionally unfit for the job. A labor law attorney in Romania can provide legal assistance and representation to prevent an abusive dismissal in Romania and ensure that employee rights under labor law in Romania are respected. Employment attorney in Romania. Legal solutions for challenging a dismissal decision in Romania in cases of forced dismissal in Romania The labor code in Romania includes clear provisions and defined sanctions for unjustified dismissals. In practice, employers often impose dismissals without cause or forced dismissals in Romania, which restrict employee rights in the employment relationship. In such cases, the employee can file a legal challenge against the dismissal decision in Romania in court. In court, the employer cannot invoke reasons for dismissal other than those stated in the dismissal decision in Romania. The court will analyze the legal situation and framework, and if it determines that the dismissal decision in Romania was unlawful, it may annul it and order the employer to pay compensation equal to indexed, increased, and updated salaries, along with any other entitlements the employee would have received. The employee has the right to request reinstatement, but if they do not request this, the labor agreement in Romania is legally terminated. A labor lawyer in Romania can be a key factor in work disputes in Romania, offering the best legal solutions to protect employee rights. Labor law attorney in Romania. How can companies legally dismiss employees? As previously mentioned, employers can order dismissals for reasons unrelated to the employee and reasons related to the employee. The first type of dismissal involves eliminating the employee’s job position, which must have a real and serious cause. Only under these conditions can an employer legally terminate a labor agreement in Romania through dismissal for reasons unrelated to the employee. For dismissals related to the employee, the situation must fit within one of the scenarios listed above. In general, the employer must issue the dismissal decision in Romania within 30 calendar days from the date the cause for dismissal was determined. If the dismissal is based on a disciplinary offense, several factors must be considered, such as: the severity of the offense, the circumstances under which it was committed, the degree of employee fault, the consequences of the disciplinary offense, the employee’s general workplace behavior, any prior disciplinary sanctions. Dismissal for a serious offense or repeated violations of work discipline can only occur after the employer has conducted a disciplinary investigation. Employment solicitors in Romania can assist in appealing a dismissal decision in Romania and representing employees in court to defend their rights. The Romanian law firm Pavel, Mărgărit and Associates, a law firm providing employment law services in Romania, has extensive experience in labor law in Romania, particularly when it comes to appeal a decision in Romania. An employment lawyer in Romania from the team can assist you in any steps to protect your interests. For legal consultation, contact a labor law attorney in Romania from the firm by accessing the contact form on our website, https://www.avocatpavel.com/contact-us/ to benefit from the best legal solutions. Don’t navigate these challenges alone. Contact Us today for expert assistance tailored to your needs. Contact Us “We have noticed that, in practice, many abusive dismissals in Romania are being issued, which is why it is important for an employment attorney in Romania to assess the situation and provide a solution to protect employee rights,” said Dr. Av. Radu Pavel, the Managing Partner of the Romanian Law Firm Pavel, Mărgărit and Associates. In conclusion, employee dismissal is a complex procedure with strict regulations under labor law in Romania, and employers must comply with them to avoid employment disputes or sanctions. Given that the European economy is constantly changing and more and more European companies are resorting to forced dismissal in Romania, Pavel, Mărgărit & Associates, a law firm that provides employment law services in Romania, recommends that employment solicitors in Romania draft the document to appeal a decision in Romania and provide representation in court to ensure that all relevant legal provisions are respected. Pavel, Margarit and Associates Law Firm is one of the top law firms in Romania, providing high-quality legal services. The firm’s clients include multinational and domestic companies of great magnitude. In 2024, the law firm’s success stories brought it international recognition from the most prestigious international guides and publications in the field. As a result, Pavel, Margarit and Associates Law Firm ranked 3rd in Romania in the Legal 500’s ranking of business law firms with the most relevant expertise. The law firm is internationally recognized by the IFLR 1000 Financial and Corporate 2024 guide. Additionally, Pavel, Margarit and Associates Law Firm is the only law firm in Romania recommended by the international director of Global Law Experts in London in the Dispute Resolution practice area. All relevant information about Pavel, Margarit and Associates Law Firm can be found on the website www.avocatpavel.com.

How to Recover Money from Unpaid Invoices in Romania? Debt recovery in Romania represents a major challenge and a complex process, achievable through various legal means, especially when it comes to unpaid invoices in Romania. Even within the context of a commercial relationship, delays in settling debts can lead to significant financial impediments for a creditor in Romania. It is important to analyze the actual situation in order to adopt the best strategy and the fastest method of recovering money from the debtor in Romania. Debt recovery procedures are among the most frequently encountered cases in the courts. Thus, a statistic was published on the court portal analyzing the number of cases registered in 2024 compared to 2023. According to the statistical report, in matters of professional disputes, in 2023 there were 12,802 ongoing cases at the Bucharest Court from previous years, and an additional 16,966 cases appeared during that year, totaling 29,768. Of these, 11,995 cases were resolved. Comparing to 2024, there were 17,773 cases from previous years, and the number increased throughout the year to 32,346, of which 12,311 were resolved. Analyzing this statistic, one can easily observe the courts’ workload in matters of professional disputes. This article discusses the methods by which a creditor in Romania can obtain debt collection in Romania, depending on each individual case, with options such as demand for payment in Romania, conciliation and amicable settlement, court claim in Romania to engage contractual liability in Romania, procedure of small track claims in Romania in case of small debt recovery in Romania, writ of summons in Romania, and insolvency procedure in Romania through an insolvency lawyer in Romania. The Romanian Law Firm Pavel, Mărgărit and Associates recommends consulting a civil litigation lawyer in Romania who can advise you on the best strategy for recovering money from unpaid invoices in Romania. Litigation attorney in Romania. Recovering money through conciliation and amicable settlement The first step in resolving a dispute is amicable settlement. At this stage, the parties discuss the payment obligation and may reach a consensus regarding the settlement of unpaid invoices in Romania. Amicable settlement is the fastest method of debt recovery in Romania, which does not involve costs. The goal of the negotiation is to reach an agreement on the payment of the debt within a reasonable time frame, thereby avoiding additional procedures such as resolving the dispute in court. Another advantage of amicable settlement is the possibility of maintaining a business relationship between creditor in Romania and debtor in Romania, which is essential for future commercial interactions. A civil lawyer in Romania has experience in handling disputes and can assist you in the amicable settlement process, offering guidance to reach an agreement between the parties. Civil litigation lawyer in Romania. Debt recovery through demand for payment in Romania If negotiations fail, the first step in the procedure of debt collection in Romania is issuing a demand for payment in Romania to the debtor in Romania, aiming to create pressure for the settlement of unpaid invoices in Romania. The notification will outline the actual situation, the legal relationship, the assumed obligations, and the mention that, in case of non-payment of the debt and related penalties, legal actions will be initiated in court, such as a small track claims in Romania, writ of summons in Romania, court claim in Romania to engage contractual liability in Romania, and insolvency procedure in Romania. The demand for payment in Romania is non-litigious but may lead to court resolution if the debtor in Romania does not comply. A debt recovery lawyer in Romania is a key partner in resolving conflicts stemming from unpaid invoices in Romania, as they can prepare a demand for payment in Romania to the debtor, urging them to fulfill their obligations. Civil lawyer in Romania. Judicial debt recovery in Romania (court claim in Romania and insolvency procedure in Romania) Judicial debt recovery in Romania is a comprehensive and often necessary procedure when amicable settlement and demand for payment in Romania fail. In this process, the creditor in Romania seeks to obtain a final ruling obligating the debtor in Romania to pay unpaid invoices in Romania and late penalties. In this regard, the creditor in Romania can file a court claim in Romania and must prove the existence of the claim through invoices, contracts, and any other relevant documents proving the relationship between the parties. If the dispute is resolved favorably for the creditor in Romania, the court will issue a decision requiring the debtor in Romania to pay the invoices, penalties, and court costs. Another way to recover money is through the insolvency procedure in Romania. This applies to a debtor in financial difficulty, unable to meet obligations to creditors. The aim of this procedure is to maximize debt recovery in Romania by liquidating assets. When a debtor is insolvent, creditors become part of the insolvency procedure in Romania by registering on the creditors’ list after submitting a statement of claim. An insolvency lawyer in Romania or litigation attorney in Romania can guide creditors through the entire process, offering legal representation, negotiating with the debtor in Romania, applying effective strategies of debt collection in Romania, and ensuring that all stages of the insolvency procedure in Romania are properly managed. To benefit from specialized legal assistance from a litigation lawyer both in the amicable settlement stage and in court procedures for debt recovery, do not hesitate to contact us via the form on our website: https://www.avocatpavel.com/contact-us/ Don’t navigate these challenges alone. Contact Us today for expert assistance tailored to your needs. Contact Us Litigation attorney in Romania. Fast procedures for debt recovery in Romania (small track claims in Romania and writ of summons in Romania) The Civil Procedure Code provides two fast methods for debt collection in Romania: the writ of summons in Romania and the small track claims in Romania for small debt recovery in Romania. A creditor in Romania has the option to choose between these procedures, including resolving the dispute through a court claim in Romania to engage contractual liability in Romania. A small track claims in Romania can be filed if the value of the claim does not exceed 10,000 lei, excluding interest, court costs, or other ancillary revenues. This procedure can be initiated by completing the claim form and submitting it to the competent court. The writ of summons in Romania is another fast debt recovery in Romania, applicable to a certain, liquid, and due claim consisting of payment obligations resulting from a contract. If the writ of summons in Romania is admitted, it becomes enforceable, and recovery of the owed amount can begin immediately. A debt recovery lawyer in Romania can optimize the creditor’s chances of success in the procedure of writ of summons in Romania or small track claims in Romania for small debt recovery in Romania by drafting and filing them with the competent court. “In the process of debt recovery in Romania, every step can present a challenge. From amicable negotiation to court proceedings, a civil litigation lawyer in Romania or insolvency lawyer in Romania is the key partner ensuring the protection of creditors’ rights and interests,” stated Dr. Radu Pavel, Managing Partner of the Romanian Law Firm Pavel, Mărgărit and Associates. In conclusion, in the business environment, recovering money from unpaid invoices in Romania is a common challenge, with a series of legal solutions available for creditors to pursue against a debtor in Romania. Choosing the right method depends on the nature of the claim, the debtor’s behavior, and the urgency of the situation. The Romanian Law Firm Pavel, Mărgărit and Associates recommends consulting a civil lawyer in Romania to ensure strict compliance with the legal framework and significantly increase the chances of successful, fast, and full recovery of the owed amounts. Pavel, Margarit and Associates Law Firm is one of the top law firms in Romania, providing high-quality legal services. The firm’s clients include multinational and domestic companies of great magnitude. In 2024, the law firm’s success stories brought it international recognition from the most prestigious international guides and publications in the field. As a result, Pavel, Margarit and Associates Law Firm ranked 3rd in Romania in the Legal 500’s ranking of business law firms with the most relevant expertise. The law firm is internationally recognized by the IFLR 1000 Financial and Corporate 2024 guide. Additionally, Pavel, Margarit and Associates Law Firm is the only law firm in Romania recommended by the international director of Global Law Experts in London in the Dispute Resolution practice area. All relevant information about Pavel, Margarit and Associates Law Firm can be found on the website www.avocatpavel.com.

How customs decisions can be challenged and the role of a tax lawyer in Romania in safeguarding company interests The Trump Administration has announced that new import taxes will come into force on imports from countries such as China, Mexico, and Canada. These measures will lead to higher prices for goods entering the United States, but their effects will also be felt in Europe, including Romania. Even though our country is not on the blacklist, Romanian companies may be indirectly affected. The Romanian Law Firm Pavel Mărgărit and Associates provides specialized legal assistance in challenging decisions issued by customs or tax authority in Romania, including those regarding the imposition of additional duties, import taxes in Romania or other restrictive measures. In this context, a tax lawyer in Romania and a business tax lawyer in Romania offer legal consultancy and representation to protect the economic interests of companies, ensuring that any customs or tax disputes are managed properly and efficiently, minimizing financial and administrative risks. Tax law attorney in Romania. How can a Customs Decision Be Challenged in Romania? In Romania, challenging a decision issued by the customs authority requires filing an administrative complaint, which must be submitted to the authority that issued the decision. This can be done within 45 days from receiving the notification of the decision or the administrative act that determined the customs obligation. At this stage, individuals or company in Romania that consider themselves harmed by the imposition of an incorrect customs duty, the misclassification of goods, or any abusive customs decision may submit a written complaint. The complaint must be substantiated with supporting documents such as commercial invoices, customs declarations or transport documents. Additionally, those contesting a customs decision may argue that the decision is legally incorrect based on customs regulations or applicable trade treaties. The customs authority will review the complaint and issue a response. If the complaint is rejected, the next step involves taking the matter to court. The Romanian Law Firm Pavel, Mărgărit and Associates recommends seeking the services of a tax lawyer in Romania or a business tax lawyer in Romania as the procedure for challenging decisions issued by customs authorities follows specific steps to ensure the rights of affected parties. The challenge process can be quite complex due to the numerous regulations governing customs law and international trade. Therefore, it is essential for companies or individuals facing such situations to consult with lawyers specialized in customs and tax law in Romania who can provide legal assistance and represent their interests before the authorities or courts. Tax lawyer in Romania. Challenging a customs decision in court Legal action must be filed within 30 days from receiving the response to the administrative complaint. The court will analyze the legality of the customs authority’s decision and verify whether it complies with current legislation. If the trial court rules in favor of the party contesting the customs decision, the authority will be obliged to take appropriate corrective measures. Otherwise, the dissatisfied party may file an appeal with the Court of Appeal within 15 days from the notification of the ruling. The Court of Appeal will thoroughly assess whether the Tribunal correctly applied the law and may uphold or amend the decision. To benefit from specialized legal assistance from a lawyer for taxes in Romania in customs and tax disputes in Romania, both at the trial stage and on appeal, do not hesitate to contact us through the form on our website: Do not hesitate to contact us by accessing the form on our website https://avocatpavel.com/contact/. Don’t navigate these challenges alone. Contact Us today for expert assistance tailored to your needs. Contact Us “All these international tax updates in Romania can represent a real challenge for a company in Romania. Even if not directly targeted, companies can be indirectly affected through supply chains, increased costs or customs delays. Adapting to this new global context requires a sound understanding of international trade regulations and a correct interpretation of applicable legal provisions. With the support of a lawyer for taxes in Romania or tax attorney in Romania, risks can be significantly reduced, allowing companies to remain competitive and compliant with current requirements,” said Dr. Av. Radu Pavel, Managing Partner of the Romanian Law Firm Pavel, Mărgărit, and Associates. Tax attorney in Romania. Types of decisions issued by customs authorities Customs authorities in Romania may issue several types of decisions, depending on the nature of the control and the findings. The most common are decisions to regularize additional tax obligations. These arise after a customs inspection during which inspectors find that certain customs duties and import taxes in Romania, such as VAT or import duties, were omitted or incorrectly declared and issue a decision imposing the payment of the resulting differences. Authorities may also issue decisions concerning the application of customs or other import taxes in Romania in cases of suspected undervaluation of goods or incorrect declaration of origin. Additionally, when a company requests the reimbursement of overpaid or erroneously paid customs duties, the authority may issue a decision rejecting the request if the legal conditions are not met. Furthermore, sanctioning decisions may be issued, including fines and other contravention measures, when violations of customs regulations are found. Customs authorities may also implement administrative control and monitoring measures, including the temporary detention of goods or refusal of entry into the country if there are suspicions regarding the legality of the import. All these decisions can be challenged with the help of a lawyer specialized in customs and tax law in Romania or a tax attorney in Romania. A company in Romania must be prepared to efficiently manage the potential legal and tax implications. From understanding the impact on its own commercial operations to challenging customs or tax decisions in Romania, it is essential to act promptly and with the proper documentation. The Romanian Law Firm Pavel Mărgărit and Associates provides specialized consultancy at every stage, from risk analysis and tax compliance to the drafting and submission of administrative complaints and representation in court. With a team of lawyers specialized in tax law in Romania, customs litigation and international trade, we ensure the protection of our clients’ interests by reducing financial risks and maintaining legal stability in the context of increasingly complex regulations. Pavel, Margarit and Associates Law Firm is one of the top law firms in Romania, providing high-quality legal services. The firm’s clients include multinational and domestic companies of great magnitude. In 2024, the law firm’s success stories brought it international recognition from the most prestigious international guides and publications in the field. As a result, Pavel, Margarit and Associates Law Firm ranked 3rd in Romania in the Legal 500’s ranking of business law firms with the most relevant expertise. The law firm is internationally recognized by the IFLR 1000 Financial and Corporate 2024 guide. Additionally, Pavel, Margarit and Associates Law Firm is the only law firm in Romania recommended by the international director of Global Law Experts in London in the Dispute Resolution practice area. All relevant information about Pavel, Margarit and Associates Law Firm can be found on the website www.avocatpavel.com.

The new NACE Rev. 3 version effective in 2025: What does your business need to do? The year 2025 began with a significant change for a Romanian company, namely the implementation of the updated version of the classification of economic activities in Romania (NACE Rev. 3). The purpose of this change is to align with European standards and adapt to a dynamic economic and business environment. The legislative change requires all companies in Romania, including individuals, to update their NACE codes in Romania and register the corresponding mentions at the Romanian Trade Register, in order to comply with the new legal provisions regarding companies. Recently, through Government Decision No. 284/2025 amending Government Decision No. 656/1997 on the approval of the classification of economic activities in Romania, a deadline of 18 months from the date of the entry into force of the latest version was set for updating NACE codes in Romania. This article analyzes the changes brought to the legislation, the industries affected, the impact of postponing the recodification of the object of activity in Romania on companies, highlighting the restriction on registering changes for a Romanian company, and offering solutions for compliance with the new NACE Rev. 3 version. The Romanian Law Firm Pavel, Mărgărit, and Associates recommends consulting a corporate lawyer in Romania to ensure compliance with the new legislative requirements and facilitate the update process. A commercial lawyer in Romania can also offer other commercial law services, such as company formation in Romania or registering any mentions at the at the Romanian Trade Register. Corporate lawyer in Romania. Main changes brought by NACE Rev. 3 and their impact on businesses By analyzing the previous classification of economic activities in Romania (NACE Rev. 2) and the current one (NACE Rev. 3), the new regulation better reflects the evolution of the business environment, particularly regarding new fields of activity. Many NACE codes in Romania have been detailed, aggregated, or recodified. Detailing codes consists of splitting an object of activity in Romania into other new codes that more specifically reflect the type of activity carried out. Aggregation involves merging several codes into one, while recodification means assigning a new code number, with the field of activity remaining the same. The NACE update procedure must be handled seriously, as failure to comply may result in operational blockages. Without updating the codes, Romanian companies cannot register any mentions for essential changes such as the extension of the registered office validity, change of business activity, transfer of shares, etc. A business attorney in Romania can provide specialized legal advice, identify appropriate NACE codes to be added to the Articles of Incorporation in Romania, and assist in updating NACE codes, including legal services to start a business in Romania. The new legislative regulations encourage entrepreneurs to opt for company formation in Romania, as the current codes allow for a wider range of business activities. A commercial lawyer in Romania can offer assistance in order to start a business in Romania, including preparing all necessary documents, submitting them to the Romanian Trade Register, and obtaining registration proof. Business attorney in Romania. Industries affected by the new NACE changes: who needs to pay extra attention? The new regulations affect various business sectors, involving both modern and traditional industries. One of the sectors impacted is retail. Many business activity codes in Romania related to retail have been detailed into more specific codes. For example, NACE code 4791 – “Retail trade in non-specialized stores” has been detailed into: NACE 4711 – Retail trade in non-specialized stores with a predominant sale of food, beverages, and tobacco products; NACE 4722 – Retail trade in meat and meat products; NACE 4740 – Retail trade in computer and telecommunications equipment; NACE 4751 – Retail trade in textiles; NACE 4754 – Retail trade in household appliances; NACE 4773 – Retail trade in pharmaceutical products; NACE 4775 – Retail trade in cosmetics and perfumes; NACE 4777 – Retail trade in watches and jewelry; NACE 4782 – Retail trade in vehicle parts and accessories; NACE 4783 – Retail trade in motorcycles; retail trade in motorcycle parts and accessories; NACE 4791 – Intermediary services in non-specialized retail trade. Another industry affected by the new legislative changes is IT, specifically telecommunications, programming activities, and IT consulting. An example is the merging of NACE codes 6202 – IT consulting activities and NACE 6203 – Management (operation and maintenance) of computing equipment into one code: NACE 6220 – IT consulting activities and management (operation and maintenance) of computing equipment. The real estate industry also experienced changes through recodification: NACE code 4110 – “Real estate development” was transformed into NACE 6812, maintaining its name. A business attorney in Romania can assist you with the procedure for updating the business activity codes in Romania and submitting the necessary documents to the Romanian Trade Register, in accordance with the provisions of the Romanian Companies Law. Business lawyer in Romania. How can a lawyer assist you in complying with the new CAEN classification? Government Decision No. 284/2025 amending Government Decision No. 656/1997 regarding the approval of the classification of economic activities in Romania establishes an implementation period of 18 months from the date the new version enters into force. During this period, both the previous and updated versions are accepted. However, Romanian companies cannot register other mentions, as they have not undertaken the necessary steps to update the object of activity in Romania in their Articles of Incorporation in Romania. A business lawyer in Romania or a commercial lawyer in Romania can assist with the necessary changes in the Articles of Incorporation in Romania, prepare the required documents, and also provide assistance to start a business in Romania. The Romanian Law Firm Pavel, Mărgărit, and Associates offers a wide range of legal services, including NACE code update consulting, preparation of the associated documentation, services of company formation in Romania, and more. A corporate lawyer in Romania from our team can assist you with any steps necessary to carry out economic activities in Romania in accordance with the Romanian Companies Law. Do not hesitate to contact us through the form on our website https://www.avocatpavel.com/contact-us/. Don’t navigate these challenges alone. Contact Us today for expert assistance tailored to your needs. Contact Us “Adapting to the new NACE codes in Romania is not just a legal requirement but also a strategic step for any business. Ignoring the compliance deadline can block the company’s growth, and this risk can be avoided through proper legal consultation,” said Dr. Av. Radu Pavel, Managing Partner of the Romanian Law Firm Pavel, Mărgărit, and Associates. In conclusion, it is essential for any Romanian company to update its business activity codes in Romania to avoid legal risks and ensure the continuity of economic activity. The 18-month deadline set by Government Decision No. 284/2025 for amending Government Decision No. 656/1997 regarding the approval of the classification of economic activities in Romania is a final deadline within which a Romanian company can update its business activity. A business lawyer in Romania is a key partner in any commercial law operation and can ensure that the provisions of the Romanian Companies Law are respected, and that economic activities are carried out in a legal manner. The Romanian law firm Pavel, Mărgărit, and Associates is one of the top law firms in Romania, providing high-quality legal services. Among the firm’s clients are large multinational and local companies. In 2024, the success stories of the law firm brought international recognition from the most prestigious international legal guides and publications. Thus, the law firm Pavel, Mărgărit, and Associates was ranked 3rd in Romania in the Legal 500 business law firm ranking, recognizing its relevant expertise. The firm is also internationally recognized by the IFLR 1000 Financial and Corporate Guide 2024. Furthermore, Pavel, Mărgărit, and Associates is the only Romanian law firm recommended by the Global Law Experts director from London in the Dispute Resolution practice area. All relevant information about the law firm Pavel, Mărgărit, and Associates can be found on the portal www.avocatpavel.com.

How Does the Russell Index Classification Help Romania’s Economy? The inclusion of Romanian companies in the global stock indices of FTSE Russell represents a significant step for the development of the capital market in Romania. The global index provider FTSE Russell has maintained 13 Romanian companies in its Global All Cap and Global Micro Cap indices, dedicated to emerging markets, according to the results of the latest review. This ranking not only increases the visibility of domestic firms on international markets but also contributes to attracting new investments and foreign direct investments in Romania. The Romanian Law Firm Pavel Mărgărit and Associates advises investors to seek the services of specialized lawyers for assistance for start a business in Romania and launching a business in Romania, consultancy in Corporate Law, Labor Law, Mergers and Acquisitions (M&A in Romania) and complex M&A transactions, FDI investment in Romania, as well as ensuring compliance with applicable legislation. Business lawyer in Romania. What is the Russell Index? The Russell Index is a series of stock market indices calculated by FTSE Russell, used to measure the performance of different segments of the US stock market. The most well-known of these is the Russell 2000, which tracks the performance of 2,000 US companies. The link between the Russell Index and Romania comes through the inclusion of Romanian companies in FTSE Russell’s global indices, which classify international stock markets. In 2020, Romania was upgraded by FTSE Russell from a frontier market to a secondary emerging market. This change allowed the inclusion of Romanian companies in international indices, attracting foreign investments in Romania from investors worldwide. A corporate lawyer in Romania or business lawyer in Romania provides legal services for investors, including advice on business formation and structure, mergers and acquisitions (M&A in Romania) and corporate regulations. Additionally, a corporate lawyer in Romania or business lawyer in Romania can legally assist investors in Romania in negotiating and drafting commercial contracts, launching a business in Romania and restructuring a business in Romania, thus contributing to the creation of a stable and secure business environment for FDI in Romania, FDI investment in Romania and investors in Romania. Corporate lawyer in Romania. The attractiveness of the Romanian market for business investors in Romania The inclusion of Romanian companies in FTSE Russell’s global stock indices is an important step for the development of the capital market in Romania and attracting foreign direct investments in Romania. In this context, M&A in Romania are important for companies seeking to strengthen their position, as they represent an opportunity to integrate into global value chains, access new financial resources and expand their operations. The Romanian Law Firm Pavel Mărgărit and Associates provides specialized legal assistance in the M&A process, helping investors and Romanian companies negotiate and draft shareholder agreements, conduct due diligence, structure transactions, assess legal and fiscal risks and obtain the necessary authorizations from authorities. A corporate lawyer in Romania or business lawyer in Romania is prepared to support companies in attracting foreign direct investment in Romania and assisting them with M&A transactions. Business lawyer in Romania. Foreign investments in Romania Romania offers a favorable environment for investments, and the inclusion of Romanian companies in FTSE Russell’s global indices represents a significant opportunity for attracting foreign capital. It allows Romanian companies to benefit from increased visibility on international markets and easier access to global financial markets. Moreover, investors wishing to start a business in Romania can take advantage of favorable regulations and the support of financial institutions to develop their new business. “Maintaining all Romanian companies in FTSE Russell’s indices dedicated to Emerging Markets reaffirms that Romania is an attractive country for business investors in Romania from all over the world,” said Dr. Radu Pavel, the Managing Partner of The Romanian Law Firm Pavel, Mărgărit and Associates. Do not hesitate to contact us by accessing the form on our website https://avocatpavel.com/contact/ to discuss opportunities for launching a business in Romania, M&A transactions and the legal assistance needed for foreign development investment in Romania. Don’t navigate these challenges alone. Contact Us today for expert assistance tailored to your needs. Contact Us In conclusion, the inclusion of Romanian companies in FTSE Russell’s global stock indices marks a remarkable moment for the evolution of the capital market in Romania, strengthening its status as a country attractive to foreign direct investments in Romania. In this context, The Romanian Law Firm Pavel Mărgărit and Associates is ready to provide consultancy and legal assistance services for investors in Romania. These include start a business in Romania and launching a business in Romania, support in M&A in Romania transactions, assistance and representation in negotiating and drafting commercial contracts, due diligence, day-to-day consulting and similar services. Pavel, Margarit and Associates Law Firm is one of the top law firms in Romania, providing high-quality legal services. The firm’s clients include multinational and domestic companies of great magnitude. In 2024, the law firm’s success stories brought it international recognition from the most prestigious international guides and publications in the field. As a result, Pavel, Margarit and Associates Law Firm ranked 3rd in Romania in the Legal 500’s ranking of business law firms with the most relevant expertise. The law firm is internationally recognized by the IFLR 1000 Financial and Corporate 2024 guide. Additionally, Pavel, Margarit and Associates Law Firm is the only law firm in Romania recommended by the international director of Global Law Experts in London in the Dispute Resolution practice area. All relevant information about Pavel, Margarit and Associates Law Firm can be found on the website www.avocatpavel.com.

Lawyer’s analysis. The Insolvency procedure explained Corporate lawyer in Romania. What does insolvency proceedings in Romania involve? According to the provisions of the insolvency procedure in Romania under Law 85/2014, insolvency is the state of a debtor in Romania where the available cash funds are insufficient to cover certain, liquid, and due debts. Further defining this concept, the insolvency proceedings in Romania establish two key situations indicating a lack of financial resources: the presumption of insolvency – a debtor is presumed insolvent if they fail to pay their debt to a creditor in Romania within 60 days from the due date (this presumption is relative), imminent insolvency – a debtor is deemed to be in imminent insolvency if it is proven that they will not be able to pay their due debts at maturity, given the available financial resources. In other words, company insolvency in Romania represents the legal process through which a company that can no longer pay its debts comes under the supervision of a judicial administrator in Romania or a liquidator in Romania, with the purpose of judicial reorganization in Romania or liquidation in Romania. Currently, insolvency procedures in Romania are regulated by Law 85/2014, which introduced significant changes compared to Law 85/2006 regarding the organization and conduct of company insolvency in Romania. Some of the key amendments include the establishment of a collective procedure for covering the debtor’s liabilities, while allowing for business restructuring in Romania when possible, the increase of the minimum threshold for initiating insolvency petition in Romania, clearer deadlines for the opening of insolvency proceedings in Romania, and the acceleration of the company bankruptcy in Romania. Additionally, unlike the previous law, the current legislation requires the debtor in Romania to notify the tax authorities before filing for insolvency in Romania. The adoption of a new legal framework for insolvency proceedings in Romania was based on several key principles, such as: maximizing the value of assets and debt recovery in Romania; offering a viable chance for the corporate debt restructuring in Romania, either through insolvency advice in Romania or through judicial reorganization in Romania; ensuring equal treatment for creditor in Romania of the same rank; increasing transparency and predictability in insolvency proceedings in Romania; encouraging out-of-court negotiations in small business bankruptcies in Romania, such as pre-insolvency agreements; Recognizing the rights of each creditor in Romania while ensuring a clear set of rules for claims in Romania and debt collection in Romania. Working with a litigation lawyer in Romania is essential for efficiently handling insolvency procedures in Romania, whether for judicial reorganization in Romania or bankruptcy of a company in Romania. A corporate lawyer in Romania can analyze the company’s financial situation, implement preventive measures where possible, draft and file an insolvency petition in Romania, and provide legal assistance throughout the simplified procedure in Romania. They also assist with negotiations between the debtor in Romania, the judicial administrator in Romania, and creditors in Romania, to approve a viable plan of reorganization in Romania. A litigation lawyer in Romania can also assist creditors in the insolvency procedure by drafting a request for registration at the creditors’ list, drafting a statement of claim in Romania, drafting a request for the opening of insolvency proceedings in Romania, drafting an objection to the preliminary table of claims in Romania, as well as other services to ensure the protection of creditors’ rights in the insolvency procedure for legal entities. For creditors in Romania, protecting their financial interests is crucial in the insolvency procedure in Romania, as they aim to recover significant amounts of money. A commercial lawyer in Romania can provide assistance with drafting an insolvency petition in Romania, submitting a statement of claim in Romania, appealing other claims in Romania if necessary, and representing clients in commercial litigation in Romania. A litigation lawyer in Romania can also represent clients in the creditors’ committee, ensuring strategic decisions are made in their best interest regarding judicial reorganization in Romania or liquidation in Romania. The Romanian law firm Pavel Mărgărit and Associates invites you to seek the expertise of an insolvency lawyer in Romania or a commerce lawyer in Romania, who can provide company insolvency advice in Romania at the highest professional standards. Our team of business solicitors in Romania has extensive experience in handling business restructuring in Romania, filing for business bankruptcy in Romania, representing creditors in Romania, and assisting with limited company liquidation in Romania. Corporate lawyer in Romania. Stages of insolvency proceedings in Romania for a company with debts An insolvency procedure in Romania can be initiated at the request of the debtor in Romania, creditors in Romania, or any other persons or institutions expressly provided by law. The opening of insolvency proceedings in Romania at the request of a creditor in Romania begins with an insolvency petition in Romania, which must specify the amount and legal basis of the claims in Romania; the existence of a real guarantee established by the debtor in Romania or imposed by law; the existence of precautionary measures on the debtor’s assets; and a statement regarding the possible intention to participate in the judicial reorganization in Romania, specifying how the creditor intends to be involved in the reorganization in Romania. If the insolvency proceedings in Romania are initiated by the debtor in Romania, they must submit a request to the court within 30 days from the occurrence of the insolvency in Romania, in order to be subject to the provisions of the insolvency procedure in Romania. The insolvency proceedings in Romania can take two forms: the general procedure or the simplified procedure in Romania. The general procedure applies to company insolvency in Romania, where the debtor in Romania, after an observation period, enters either judicial reorganization in Romania, followed by bankruptcy of a company in Romania, or directly into one of the two procedures. The simplified procedure in Romania is a type of insolvency procedure in Romania where the debtor in Romania enters liquidation in Romania immediately upon the opening of insolvency proceedings in Romania, or after an observation period of maximum 20 days, during which compliance with legal conditions is verified. To qualify for the simplified procedure in Romania, the debtor in Romania must meet one of the following conditions: own no assets; the founding documents or accounting records cannot be found; the administrator cannot be located; the registered office no longer exists or does not match the address in the trade register. If business restructuring in Romania is feasible and a judicial reorganization in Romania is deemed viable, a plan of reorganization in Romania may be approved by the creditors in Romania. If judicial reorganization in Romania is not possible, the company bankruptcy in Romania proceeds, and a judicial administrator in Romania or liquidator in Romania begins the sale of assets and the debt recovery in Romania process for the benefit of the creditors in Romania. This stage of the bankruptcy of a company in Romania is followed by the removal of the debtor in Romania from the relevant registration records. The insolvency in Romania is concluded either upon the successful implementation of a judicial reorganization in Romania plan or through the wind up a company in Romania process, where the company is deregistered following limited company liquidation in Romania. The Romanian law firm Pavel Mărgărit and Associates recommends seeking the assistance of an insolvency lawyer in Romania or a commercial lawyer in Romania, who can provide company insolvency advice in Romania, legal representation, and support for debt collection in Romania if you seek to recover a statement of claim in Romania against a company in insolvency in Romania. Insolvency lawyer in Romania. Company insolvency in Romania vs bankruptcy of a company in Romania Analyzing the differences between insolvency in Romania vs. bankruptcy of a company in Romania, the company bankruptcy in Romania is essentially the final stage for a company in insolvency in Romania, carried out to wind up a company in Romania by liquidating the debtor’s assets to cover liabilities and deregister the company from the Trade Register. Another distinction between insolvency in Romania and bankruptcy of a company in Romania is that company insolvency in Romania represents a financial state in which the debtor in Romania is unable to pay its debts when due to a lack of liquidity, whereas the insolvency procedure in Romania leading to liquidation in Romania is a legal process aimed at resolving the insolvency in Romania status. A commercial lawyer in Romania or an insolvency lawyer in Romania assists a company in insolvency in Romania through the insolvency proceedings in Romania, helping to optimize the process, protect the interests of creditors in Romania, and support a judicial administrator in Romania or a liquidator in Romania in carrying out legal procedures. Collaborating with a litigation lawyer in Romania is essential at any stage for a company in insolvency in Romania, whether it is attempting reorganization in Romania or proceeding with limited company liquidation in Romania. In Romania, companies facing financial difficulties have several legal avenues to restructure or terminate their business operations. One of the key solutions is corporate debt restructuring in Romania, which allows businesses to negotiate new repayment terms with creditors in order to regain financial stability. For businesses unable to recover, seeking company insolvency advice in Romania is crucial. Consulting with an insolvency solicitor in Romania helps companies carry out the legal complexities of the insolvency process and determine the best course of action. Creditors who are struggling to recover outstanding debts can pursue debt collection in Romania, which includes both amicable and legal enforcement measures. If a company can no longer meet its financial obligations, it may proceed with filing for business bankruptcy in Romania, a legal process that involves submitting a formal request to the court. When a company reaches the point where it cannot continue operating, its owners may decide to wind up a company in Romania. This process involves liquidating the company’s assets, paying off creditors, and closing down operations in accordance with Romanian insolvency law. It is essential to be aware of the deadline for filing in Romania, as missing the required timeframe can lead to legal consequences for company directors. Legal disputes related to insolvency often require the assistance of a commercial litigation attorney in Romania, who specializes in handling cases involving financial distress, creditor claims in Romania, and bankruptcy proceedings. Additionally, the increasing number of small business bankruptcies in Romania highlights the importance of proper financial planning and legal support for struggling enterprises. For any business facing insolvency in Romania, working with an experienced business solicitor in Romania is crucial to ensure compliance with local laws and to explore all available options, whether restructuring, liquidation, or bankruptcy of a company in Romania. Commerce lawyer in Romania. Documents required for company insolvency in Romania To initiate insolvency proceedings in Romania for a company, several documents expressly required by the current regulations must be submitted. These include the latest annual financial statement, certified by the administrator and auditor; the trial balance for the month preceding the date of filing the insolvency petition in Romania; a list of the names and addresses of the creditors in Romania, regardless of whether their claims in Romania are certain or conditional, liquid or illiquid, due or undue, disputed or undisputed, specifying the amount, cause, and preference rights; a list of payments and asset transfers made by the debtor in Romania in the six months preceding the filing of the statement of claim in Romania; the profit and loss account for the year prior to the submission of the request; a list of members of the economic interest group or, where applicable, the unlimited liability partners for general partnerships and limited partnerships; a statement by which the debtor in Romania expresses their intention to enter into the simplified procedure in Romania or judicial reorganization in Romania, according to a plan, through business restructuring in Romania or liquidation in Romania, either in whole or in part, to settle its debts; a brief description of the means considered for reorganization in Romania; a sworn statement, notarized or certified by a commercial lawyer in Romania, or a certificate from the agricultural registry or, where applicable, the trade register or other registries in the territorial jurisdiction where the company is registered, stating whether the company has been subject to judicial reorganization in Romania in the past five years prior to the submission of the request; a sworn statement, notarized or certified by a litigation lawyer in Romania, confirming that the administrator, directors, and/or shareholders who control the debtor in Romania have not been convicted of certain offenses stipulated by law; a certificate of admission to trading on a regulated market for securities or other financial instruments issued; a statement indicating whether the debtor in Romania is part of a group of companies, specifying them; proof of the unique registration code; and proof of notification of the competent tax authority. All these documents must be submitted along with the insolvency petition in Romania or, at the latest, by the deadline for filing set by the judicial administrator in Romania. The court fee of 200 ron must also be attached to the application. During the insolvency process, consulting an insolvency solicitor in Romania and a business solicitor in Romania is essential to ensure legal compliance and explore the best options for debt restructuring in Romania or liquidation. The Romanian Law Firm Pavel Mărgărit and Associates recommends seeking the services of an insolvency lawyer in Romania or a commerce lawyer in Romania to properly draft all the necessary documents for insolvency proceedings in Romania, thus maximizing the chances of judicial reorganization in Romania or debt recovery in Romania. Don’t go through these challenges alone. Contact us today for expert support tailored to your needs. Contact Us Commercial litigation attorney in Romania. Deadline for filing in Romania – insolvency proceedings in Romania The insolvency procedures in Romania for a company with debts, registration in the creditors’ list, or the bankruptcy of a company in Romania are regulated by clear deadlines to prevent abuse and procedural delays. Thus, the debtor in Romania is required to file an insolvency petition in Romania within a maximum of 30 days from the occurrence of the insolvency in Romania. The deadline for resolving an insolvency petition in Romania submitted by the debtor in Romania is 10 days, and the procedure is conducted in the council chamber without summoning the parties. Creditors in Romania can request the opening of insolvency proceedings in Romania if their claims in Romania exceed 50,000 ron and the debt has been overdue for more than 60 days. Additionally, after an insolvency petition in Romania is filed, the creditors in Romania notified under the law are required to submit a statement of claim in Romania (request for admission of the claim to the creditors’ list) within the deadline established by the court decision opening the insolvency proceedings in Romania. However, this deadline cannot exceed 45 days from the publication of the court decision in the Insolvency Proceedings Bulletin. The insolvency procedure in Romania establishes a forfeiture deadline for performing certain actions within the insolvency proceedings in Romania. Failure to meet a forfeiture deadline results in the loss of the right to perform that action, such as registering claims in Romania, appealing claims, or submitting a statement of claim in Romania, among others. Therefore, both the creditors in Romania and the debtors in Romania must carefully observe each forfeiture deadline to protect their interests. The procedures involving a company insolvency in Romania, company bankruptcy in Romania, or registration in the creditors’ list for debt recovery in Romania are complex and involve multiple legal aspects. For this reason, the Romanian Law Firm Pavel Mărgărit and Associates recommends seeking the services of a commercial lawyer in Romania or a litigation lawyer in Romania to avoid procedural mistakes and safeguard the interests of the company or its creditors in Romania. Furthermore, a specialized insolvency lawyer in Romania or litigation lawyer in Romania can assist with drafting and filing a statement of claim in Romania (request for admission of the claim to the creditors’ list), contesting other creditors in Romania’ claims, and representing your interests before the courts. The insolvency process in Romania provides businesses with legal mechanisms to either restructure their debts or proceed with bankruptcy if they are no longer financially viable. One of the primary options for struggling companies is corporate debt restructuring in Romania, which allows businesses to renegotiate their financial obligations with creditors to avoid liquidation. For companies that cannot recover, consulting an insolvency solicitor in Romania is essential. A legal expert can guide businesses through the insolvency process, ensuring compliance with all legal requirements. In cases where debt restructuring in Romania is not feasible, companies may have to proceed with filing for business bankruptcy in Romania. This formal procedure requires submitting the necessary documentation to the relevant authorities and following the steps outlined by Romanian insolvency law. It is important for businesses to be aware of the deadline for filing in Romania, as failure to meet this deadline can result in legal penalties or additional liabilities for company directors. Throughout the insolvency process, disputes between creditors and debtors may arise, requiring the expertise of a commercial litigation attorney in Romania to handle legal proceedings and protect the interests of the involved parties. In recent years, there has been a rise in small business bankruptcies in Romania, highlighting the need for legal and financial planning to navigate economic challenges. Engaging a business solicitor in Romania can help companies explore all available options, from debt restructuring in Romania to liquidation, ensuring that they comply with the applicable laws and procedures. Commercial lawyer in Romania. Continuing the business after the opening of insolvency proceedings in Romania The insolvency petition in Romania for a company must be submitted to the tribunal in the jurisdiction where the debtor in Romania has its registered office. Once a company insolvency in Romania request is filed, the debtor in Romania may also request the provisional suspension of any enforcement proceedings. After the petition is submitted by the debtor in Romania, any subsequent insolvency petition in Romania filed by a creditor in Romania will be considered a statement of claim in Romania, if the request of the debtor in Romania is admitted. A statement of claim in Romania is the means through which a person acquires the status of creditor in Romania within the insolvency proceedings in Romania. This claim is then registered in the preliminary table of claims in Romania against the debtor’s assets and must be filed even if it is not established by an enforceable title. Throughout the insolvency proceedings in Romania, the company’s entire activity is supervised by a person appointed by the syndic judge, known as the judicial administrator in Romania. At the beginning of the insolvency procedure in Romania, the syndic judge of the tribunal where the insolvency petition in Romania was filed will appoint either a judicial administrator in Romania or a provisional liquidator in Romania (if the simplified procedure in Romania for bankruptcy of a company in Romania is chosen) from among the insolvency practitioners listed in the National Union of Insolvency Practitioners in Romania. This appointment will be confirmed or replaced at the first meeting of the creditors in Romania. The judicial administrator in Romania notifies the creditors in Romania so that they can submit a statement of claim in Romania for registration in the creditors’ list. The creditors in Romania who are notified of the opening of the insolvency proceedings in Romania are required to file a statement of claim in Romania within the deadline set by the court decision initiating the insolvency procedure in Romania for a company with debts. Another duty of the judicial administrator in Romania is to draft the preliminary table of claims in Romania after each statement of claim in Romania is submitted, verified, and admitted. The preliminary table of claims in Romania includes the amount claimed by the creditor in Romania, the amount accepted by the judicial administrator in Romania, information regarding any preferential rights attached to the claim, and the ranking of the preferential cause. The judicial administrator in Romania notifies the creditors in Romania and the debtor in Romania of the preliminary table of claims in Romania. Legal Strategies for Creditors and Debtors in the Insolvency Procedure in Romania  Navigating insolvency proceedings in Romania requires a strategic approach that complies with current legislation, and collaborating with an insolvency lawyer in Romania is essential for assessing the financial situation, analyzing the company’s assets and liabilities to determine whether insolvency in Romania is inevitable or if there are alternatives to avoid it. Complying with the deadlines set by the court and the judicial administrator in Romania, as well as contesting unfavorable decisions, are also key aspects to consider for the efficient management of insolvency proceedings in Romania. To prevent company insolvency in Romania, insolvency procedures in Romania under Law 85/2006, followed by new regulations, have introduced two amicable debt renegotiation procedures: ad-hoc mandate and agreement with creditors. The ad-hoc mandate is a confidential insolvency procedure in Romania aimed at preventing company bankruptcy in Romania, which involves appointing an ad-hoc representative by the court to negotiate with the creditor in Romania to reach an agreement with the debtor in Romania facing financial difficulties. The ad-hoc mandate may be requested by a debtor in Romania experiencing financial hardship to resolve issues through a simplified procedure in Romania. This process can last a maximum of 90 days from the appointment of the ad-hoc representative by the court president. The agreement with creditors is an insolvency procedure in Romania that facilitates an arrangement between the creditor in Romania and the debtor in Romania, providing an amicable understanding to implement a business restructuring in Romania. The judicial administrator in Romania is appointed by the court, and this designated person is responsible for overseeing the process and assisting the debtor in Romania in negotiations with creditors in Romania. Legal assistance from a commercial lawyer in Romania ensures the correct and timely submission of an insolvency petition in Romania, safeguards the rights of the debtor in Romania in relation to the judicial administrator in Romania and creditors in Romania, and can help avoid the bankruptcy of a company in Romania. Moreover, the absence of proper legal guidance may result in financial losses, legal sanctions, and procedural deadlocks. The Romanian Law Firm Pavel Mărgărit & Associates provides high-standard legal services in various practice areas, including insolvency procedures in Romania. Our team demonstrates an in-depth understanding of insolvency advice in Romania, offering clear and effective legal solutions to all clients seeking the services of a commercial lawyer in Romania.