Restructuring and insolvency litigation

Romanian insolvency regulation is one of the most controversial and debated pieces of legislation in Romania. Even without the countless changes, the entire law was abrogated and has been replaced three times in the last 20 years in order to bring it fully into line with EU standards.

We have extensive experience in acting for both debtors and creditors and assisting court appointed receivers in high-profile insolvency cases in various sectors, such as consumer goods, banking, insurance, construction and energy.

• Advised London Partners in connection to the opening procedures of the insolvency against AYKA Construction related to the contractor agreement for the residential SOHO project
• Advised Intercora Group in relation to litigation and insolvency matters pertaining to the operation and lease of their asset portfolio, which included an insolvency claim against Domo and a civil claim against Proges.
• Advised Complexul Multifunctional Victoria, a local subsidiary of AEW Europe and owner of the America House Building, with litigation and insolvency matters involving the operation and lease of an office building in Bucharest (Victoriei Square – 27,000 sq.m.).
• Advised ERP Targu Mures, a local subsidiary of AEW Europe and owner of the Promenada Shopping Mall, with litigation and insolvency matters involving the operation and lease of a shopping mall in Targu Mures (51,350 sq.m.).
• Advised Vinarte, a top Romanian wine producer, throughout the reorganisation of a distressed company, including advice with respect to re-financing and rescheduling the company’s finances, as well as with distressed sales and the acquisition of assets.