Romanian insolvency proceedings are governed by a modern legal framework aimed at rescuing the insolvent debtor, while also ensuring (at least, partially) the payment of debts to creditors.
Sedes materiae in Romania is Law No. 85/2014 on insolvency prevention and procedures (Romanian Insolvency Code) which also covers special provisions for creditors (legal persons, insurance companies, groups of companies), and preventive measures and crossborder insolvency procedures.
Location