Insolvency practitioner in Cluj-Napoca

How I can help

As an insolvency practitioner, I provide advice and act as judicial administrator or judicial liquidator in insolvency prevention and insolvency proceedings under Law no. 85/2014.

• advice on insolvency matters;
• judicial administrator;
• judicial liquidator;
• insolvency prevention procedures;
• insolvency proceedings: observation, reorganisation and bankruptcy;
• voluntary liquidation and deregistration of companies (Law no. 31/1990);
• liquidation and deregistration of associations, foundations and federations (Government Ordinance no. 26/2000);
• assistance with matters related to insolvency proceedings.

The advantages of insolvency proceedings

Many people fear the word “insolvency”. In reality, insolvency is a protective measure for the debtor: a legal tool that gives a company in difficulty time, protection from creditor pressure and an organised way out.

• Debts can be paid in instalments. Through reorganisation, debts can be paid in stages over 3–4 years, according to a reorganisation plan.
• Interest and penalties stop running. No further interest, surcharges or penalties are added to debts arising before the opening of the proceedings.
• Enforcement is stayed. From the opening of the proceedings, lawsuits and enforcement actions against the company for the recovery of debts are stayed by law.
• Business can continue. The company can keep operating under the supervision of the judicial administrator, keeping its clients, contracts and jobs.
• An orderly, transparent framework. Creditors are treated according to clear rules, under the control of the insolvency judge, and negotiations take place within a legal framework.
• A proper closure, if there is no other way. When recovery is no longer possible, bankruptcy allows the company to be closed lawfully and in an orderly manner.

The reorganisation plan must be voted by the creditors and confirmed by the insolvency judge, and the right solution depends on each company's specific situation.

For creditors too

If you are a creditor and need to recover a debt from a company that has stopped paying, I can explain what options insolvency proceedings offer and what steps they involve.

Experience from over 12 years of practice

Since 2013 I have handled numerous proceedings, both for debtors with assets and for debtors without assets. I have drafted the documents specific to each procedure and represented the proceedings in court.

Along the way I have also dealt with matters related to insolvency, which come up often in practice and require experience: evictions, land registry entries, collective dismissals, the sale of real estate from the debtor's estate and other steps needed for an efficient management of the case.

An advantage: insolvency and valuation in one place

In insolvency, the value of the assets matters a great deal: for the reorganisation plan, for the sale or for the creditors. As an ANEVAR-authorised valuer as well, I understand from the inside how valuations are made and which questions need to be asked. I have also written several specialist articles on this subject.

• Law no. 85/2014
• Law no. 31/1990
• Government Ordinance no. 26/2000

See also: ANEVAR real estate valuation · court expert reports