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International Corporate Rescue

Journal Issues

  • Vol 1 (2004)
  • Vol 2 (2005)
  • Vol 3 (2006)
  • Vol 4 (2007)
  • Vol 5 (2008)
  • Vol 6 (2009)
  • Vol 7 (2010)
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  • Vol 11 (2014)
  • Vol 12 (2015)
  • Vol 13 (2016)
  • Vol 14 (2017)
  • Vol 15 (2018)
  • Vol 16 (2019)
  •         Issue 1
  •         Issue 2
  •         Issue 3
  •         Issue 4
  •         Issue 5
  •         Issue 6
  • Vol 17 (2020)
  • Vol 18 (2021)
  • Vol 19 (2022)
  • Vol 20 (2023)

Vol 16 (2019) - Issue 3

Article preview

The Recent Reforms in the Romanian Insolvency Law

Florin Dutu, Senior Partner, Stratulat Albulescu, Bucharest, Romania

The Romanian Government has recently taken several steps to modernise and simplify Romanian insolvency law, with a view to increasing the effectiveness of the insolvency proceedings. The result is a comprehensive set of updated insolvency rules in one single law, an enhanced protection of certain creditors and a strengthened out-of-court restructuring process.
The insolvency law is one of the most important pieces of regulation and in the last 20 years we have witnessed a legislative roller-coaster in the insolvency field in the attempt to align the local norms to the European standards.
Statistics indicate that successful restructuring proceedings in the insolvency files are quite rare and the complex effort to align the frequently conflicting interests of the parties fails almost every time because of the ‘no compromise’ policy of the creditors.

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International Corporate Rescue

"International Corporate Rescue is great. In a busy world, it covers a truly global range of restructuring topics in just the right depth, enough for an understanding of the important points, but not a lengthy mini-PhD. I find it really helpful for keeping informed about the areas I work in, and to have ‘issue awareness’ about areas further afield. I always read it."

Richard Tett, Freshfields, London Head of Restructuring & Insolvency

 

 

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