Best Bankruptcy Lawyers in Romania

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Iorgulescu-Legal

Iorgulescu-Legal

Bucharest, Romania

Founded in 2010
20 people in their team
English
Romanian
Spanish
French
About UsIorgulescu-Legal, situated in the heart of Bucharest, Romania, epitomizes excellence in legal service. Our firm is unwavering in its commitment to deliver superior legal counsel, specializing in Dispute Resolution, Immigration & Citizenship, and Corporate Law. Our distinguished team...
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Atrium Romanian Lawyers

Atrium Romanian Lawyers

30 minutes Free Consultation
Bucharest, Romania

Founded in 2005
10 people in their team
English
Our team of Romanian lawyers can offer  a wide range of  legal services in Romania, E.U.Whether you need legal advice, representation, or assistance in any area of law, we are here to help you.Our Managing Partner, J.D. Simona Rotaru is an experienced and qualified lawyer who has...
Pavel, Margarit & Associates Romanian Law Firm

Pavel, Margarit & Associates Romanian Law Firm

Bucharest, Romania

Founded in 2006
50 people in their team
Romanian
English
Who we areWe are specialized business lawyers committed to deliver excellenceWe are young and ambitious professionals eager to make a differenceWhat we doWe serve our clients’ business interests worldwideWe engage in challenging legal issues in diversified industriesWe provide high-end legal...
Hammond si Asociates

Hammond si Asociates

1 hour Free Consultation
Bucharest, Romania

Founded in 2004
14 people in their team
English
Romanian
Spanish
Hammond & Associates can trace its origins back to 1990 when Nicholas Hammond became the first foreign lawyer to open an office in Romania after January 1990. Hammond,& Associates brings the experience of lawyers from different legal disciplines to provide a full service commercial law...
Persa Legal Diana Persa Law Office

Persa Legal Diana Persa Law Office

Timișoara, Romania

Founded in 2014
4 people in their team
English
French
Spanish
About UsWe are dedicated to providing comprehensive legal support tailored to the needs of entrepreneurs and businesses. Specializing in Business Law, we offer expert guidance in areas ranging from Civil Law to Immigration, startup legal advice, and employment matters. We pride ourselves on...
Cabinet Avocat SIBIU - ANA Simu

Cabinet Avocat SIBIU - ANA Simu

Sibiu, Romania

Founded in 2000
10 people in their team
Romanian
English
COMMERCIAL LAWOur lawyers are with potential clients by offering a wide set of services that take into account the smooth running of a company.FIND OUT MORECIVIL LAWOur team of lawyers offers consulting services or assistance and representation in court for the resolution of all disputes in civil...
SORA & ASOCIATII

SORA & ASOCIATII

Bucharest, Romania

Founded in 2002
10 people in their team
Romanian
English
Providing Legal ServiceSora & Associates Law Firm is specialized on Legal Tech, Arbitration, Construction Law, Public Procurement and Litigation, but in the same time, it has a great experience in many fields due to the various clients domains of activity. As a result, Sora &...
Societatea Civilă de Avocați Budușan și Asociații - Cluj-Napoca

Societatea Civilă de Avocați Budușan și Asociații - Cluj-Napoca

Cluj-Napoca, Romania

Founded in 2002
50 people in their team
About usLocated in Cluj-Napoca, the Civil Society of Budușan Lawyers and Associates exists from the desire to offer its clients the experience of a team determined to offer clear and intelligent solutions to the legal situations they encounter in their work.Budușan și Asociații always chooses...
Avocat Horațiu Brisc

Avocat Horațiu Brisc

Cluj-Napoca, Romania

Founded in 2017
10 people in their team
Romanian
English
Horațiu Brisc is the founding lawyer of the BRISC LEGAL team and is part of the Cluj Bar. Horațiu is a pragmatic and innovative litigation lawyer and meticulous consultant with experience in complex real estate, corporate and insolvency law projects. Complementary to the academic foundation...
Hammond Partnership Law Firm

Hammond Partnership Law Firm

Bucharest, Romania

Founded in 2004
50 people in their team
Romanian
English
About usHammond and Associates which now carries on business under the name Hammond Partnership has been present on the Romanian legal market since 1990. The Firm has through that time developed into what today is an acknowledged legal firm in Romania which provides comprehensive legal services to...
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About Bankruptcy Law in Romania

Bankruptcy in Romania is regulated by Law no. 85/2014 on preventing insolvency and insolvency procedures, which establishes the legal framework for individuals and businesses facing financial difficulties. Bankruptcy proceedings aim to protect the rights of creditors while providing a fair chance for the debtor to restructure their debts or liquidate their assets.

Why You May Need a Lawyer

You may need a lawyer for bankruptcy in Romania if you are facing insolvency, need help with debt restructuring, want to ensure your rights are protected during bankruptcy proceedings, or require legal advice on the best course of action to take in your specific financial situation. A lawyer can provide guidance, represent you in court, negotiate with creditors, and help you navigate the complex legal processes involved in bankruptcy.

Local Laws Overview

In Romania, bankruptcy proceedings can be initiated both voluntarily by the debtor or involuntarily by creditors. The main types of insolvency procedures are reorganization and liquidation, each with their specific requirements and implications. It is crucial to comply with the legal deadlines and procedures laid out in Law no. 85/2014 to avoid potential sanctions.

Frequently Asked Questions

1. What are the eligibility criteria for filing for bankruptcy in Romania?

In Romania, individuals and businesses facing financial difficulties can file for bankruptcy if they are unable to pay their debts as they become due.

2. How long does the bankruptcy process take in Romania?

The duration of bankruptcy proceedings in Romania can vary depending on the complexity of the case and the chosen insolvency procedure. It typically takes several months to several years to complete the process.

3. What are the consequences of declaring bankruptcy in Romania?

Declaring bankruptcy in Romania can have various consequences, including the liquidation of assets, restrictions on business activities, and damage to the individual or company's credit rating.

4. Can a bankrupt individual or business continue operating in Romania?

In some cases, a bankrupt individual or business may be able to continue operating under supervision or with the approval of the court. However, restrictions may apply, and compliance with legal obligations is essential.

5. How can a lawyer help during bankruptcy proceedings in Romania?

A lawyer can provide legal advice, represent you in court, negotiate with creditors, prepare and file necessary documents, and ensure your rights are protected throughout the bankruptcy process.

6. Are there alternatives to bankruptcy in Romania?

Yes, there are alternatives to bankruptcy in Romania, such as debt restructuring, reorganization, or negotiation with creditors. A lawyer can help you explore these options and choose the best course of action for your specific situation.

7. What are the costs associated with hiring a lawyer for bankruptcy in Romania?

The costs of hiring a lawyer for bankruptcy in Romania can vary depending on the complexity of the case, the lawyer's experience, and the services required. It is essential to discuss fees and payment options with your lawyer before proceeding.

8. Can creditors challenge a bankruptcy filing in Romania?

Yes, creditors can challenge a bankruptcy filing in Romania if they believe the debtor is not eligible for bankruptcy or if they have concerns about the proposed insolvency procedure. Legal representation is crucial to defend against such challenges.

9. What are the potential outcomes of bankruptcy proceedings in Romania?

The potential outcomes of bankruptcy proceedings in Romania include debt discharge, debt restructuring, asset liquidation, or reorganization. The specific outcome will depend on the circumstances of the case and the chosen insolvency procedure.

10. How can I find a reputable lawyer for bankruptcy in Romania?

You can find a reputable lawyer for bankruptcy in Romania by asking for recommendations, conducting research online, contacting professional legal associations, or seeking referrals from other professionals. It is essential to choose a lawyer with experience in bankruptcy law and a track record of successful cases.

Additional Resources

For more information on bankruptcy law in Romania, you can contact the National Trade Register Office (ONRC), the Romanian National Insolvency Procedure Registry, or the Romanian Bar Association. These organizations can provide valuable resources and guidance on legal matters related to bankruptcy.

Next Steps

If you are facing financial difficulties or considering bankruptcy in Romania, it is advisable to seek legal advice from a qualified bankruptcy lawyer. A lawyer can assess your situation, explain your legal options, and guide you through the bankruptcy process to achieve the best possible outcome. Take the first step towards resolving your financial issues by consulting with a lawyer today.

Lawzana helps you find the best lawyers and law firms in Romania through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Bankruptcy, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Romania—quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.