Insolvency and Restructuring
Statistics indicate that a successful restructuring after insolvency proceedings are filed is quite rare. The complex effort to align usually conflicting interests amongst parties fails almost every time because of the “no compromise” policy of creditors.
In Romania, the insolvency process is still associated with fraudulent debtors, vengeful creditors, biased insolvency practitioners (receivers), overloaded insolvency courts, and judges with questionable reputations. Our insolvency and restructuring team has outstanding experience in navigating these highly complex proceedings and dealing with hostile debtors, co-creditors and insolvency practitioners. We have represented both debtors and creditors in sensitive insolvency cases that resulted in the successful implementation of the restructuring plans.