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You are here: Home / Insolvency

INSOLVENCY

In this area, our office provides services of counseling, assistance and legal representation of both debtors and creditors who are in a difficult situation from the financial point of view or who are already involved in the specific insolvency procedures.

We enjoy having an excellent reputation strengthened over time due to performing with celerity and efficiency to the highest standards of professional ethics of all the specific actions of pre-insolvency and insolvency procedures, by providing our clients our vast experience, skills and full technical support of assessors, economists, financial analysts, experts, accountants and lawyers of high prestige, with whom we are in a close and strong colaboration in all areas in which we perform our professional activity.

Through our services we cover all stages of insolvency proceedings and offer a very large range of solutions implemented through methodologies which are in a continuous update in relation to legislative evolution and economic reality. We place same great emphasis on optimizing business and management education.

We relate with priority on the European Union legislation regarding this matter, closely following its development in order to apply it in the insolvency procedures that we manage. We are also able to provide a modern and efficient logistic system in order to optimise the performance of the procedure. Under these aspects, we guarantee that insolvency or liquidation procedures will be fulfilled professionally and utmost promptitude.

Our services also include:

  • full analysis of financial condition, managerial and legal situation of the society prior opening of such proceedings;
  • darfting a report for identifying the causes that led to the state of financial trouble and evaluating the chances of reorganization and financial optimization;
  • establishing the strategy for reorganization and financial optimization for the adoption of the measures necessary to continue the activity and to achieve the objectives concerning performance indicators;
  • presentation and negotiation of the strategy with the main voting creditors of the plan;
  • monitoring the company’s activities in order to achieve the budget and to implement the reorganization plan;
  • counseling, assistance and representation in the necessary steps for the implementation of the reorganisation plan;
  • permanently informimg participants in the pre-insolvency and insolvency procedures regarding the stage and evolution of the procedure;
  • drafting and filing the opening application of insolvency proceedings on behalf of both creditors and debtors;
  • assistance and representation in promoting the actions aimed to appeal against the sentences of bankruptcy procedure and/or the suspension of the opening sentences of this procedure;
  • objections to the table of claims;
  • assistance and representation in the drafting and promoting actions for realization of assets, notifications, addresses and requests, summons and orders of payment, nullity actions, appeals to enforcement actions, opposition bills, and other legal actions;
  • assistance and representation in relation to bailiffs and other organs in order to comply with the court’s sentence.

Pre-insolvency services – Insolvency prevention

The Ad-hoc mandate and Preventive concordat

Accessed on time, pre-insolvency services improve the recovery chances of companies which are in a temporary fiancial difficulty and whose managerial and economic viability is in a dynamic decrease. They involve a number of specific measures for the optimization of costs, investment, personnel, sales etc., materialized in a reorganization plan based on capital market reality and helps to cover in a great mesure the company’s liability, reintroducing on the market a healthy, viable and competitive trader.

The confidentiality of these procedures provides a major advantage to the debtor because it protects him from the reluctance in approach and negotiations expressed by current and potential customers or partners, , a phenomenon often encountered during insolvency proceedings.

Insolvency services

Reorganisation

We consider that the judicial reorganization is a process of restructuring and optimization which benefits of the advantages offered by the insolvency law and aims to balance the company’s financial situation by reducing the liability to the level of the asset or to the possibilities of generating surplus from current activity.

Over time, the projects in which we were involved, we were able to innovate and develop a series of methods and procedures applicable in matters related to insolvency, which were customized and implemented on the specifics of each company, helping to identify the best solutions for the company and to improve its relations with partners.

We follow with great interest that debtor should maintain a transparent attitude and active and realistic communication in relation to its creditors ever since the degradation of the company’s economic situation and pending of the insolvency procedure, mutual trust between them being one of the most important elements for the success of the reorganization.

The assets valorisation

Proper management of assets is the key to maximize funds obtained from the assets’ valorization. Therefore, a team of specialists will ensure the achievement of all demarches from the inventory and evaluation of assets according to legal provisions, elaborating marketing strategies and market exposure in order to exploit them and until the sale its self.

Practice areas

  • Corporate
  • Commercial
  • Banking & Financial
  • Public Acquisitions
  • Competition & Antitrust
  • Labor & Human Resources
  • Real Estate & Constructions
  • Environment
  • Transport & Logistics
  • Intelectual Property
  • Insolvency
  • Tax & White Collar Defence

Latest News

  • Investitii RomaniaThe foreign direct investments in Romania have doubledAugust 26, 2021 - 2:48 pm

    New statistics were published by National Statistics Institute about the foreign direct investments in Romania, compared with the last years.

  • Romanian environment authorisationThe environmental permit should be renewed annuallyMay 1, 2019 - 7:34 am

    A new legislative amendment relevant to the functioning of the activities with an impact on the environment is the Emergency Ordinance no.75 / 19.07.2018.

  • Romanian Prevention LawRomanian Prevention LawDecember 2, 2017 - 10:10 am

    The Parliament of Romania approved on Wednesday the Prevention Law which will block state inspectors from issuing fines for certain issues found during their controls at companies.

Recommended Links

www.gov.ro
www.portal.just.ro
www.cjhunedoara.ro
www.prefecturahunedoara.ro
www.primariadeva.ro

Services

  • Corporate
  • Commercial
  • Banking & Financial
  • Public Acquisitions
  • Competition & Antitrust
  • Labor & Human Resources
  • Real Estate & Constructions
  • Environment
  • Transport & Logistics
  • Intelectual Property
  • Insolvency
  • Tax & White Collar Defence

Latest News

  • Investitii RomaniaThe foreign direct investments in Romania have doubledAugust 26, 2021 - 2:48 pm

    New statistics were published by National Statistics Institute about the foreign direct investments in Romania, compared with the last years.

  • Romanian environment authorisationThe environmental permit should be renewed annuallyMay 1, 2019 - 7:34 am

    A new legislative amendment relevant to the functioning of the activities with an impact on the environment is the Emergency Ordinance no.75 / 19.07.2018.

  • Romanian Prevention LawRomanian Prevention LawDecember 2, 2017 - 10:10 am

    The Parliament of Romania approved on Wednesday the Prevention Law which will block state inspectors from issuing fines for certain issues found during their controls at companies.

Contact

Address:
Piața Unirii nr. 9
330152 Deva, Romania

+40.729.966.454
+40.722.822.927
office@trinnovis.ro
www.trinnovis.ro
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