Information related to the Collection of Debt in Romania


 

 

 

» Summons of Payment
This is a quicker procedure that relates to debts representing obligations of payment of certain amounts, assumed through a written contract or determined through a different statute, regulation or written document, which attests rights and obligations regarding the execution of certain services, work etc.

 

Read more

» Common Law
This is the basic, usual type of trial foreseen by the Romanian Law for the recuperation of debts. This method is considered slower that the Summons of Payment and it requires sending an official notification to the debtor and establishing a date and time for negotiations as a pre-trial step. There are certain timeframes to be taken into account when starting this type of trial.

 

Read more

The Romanian Insolvency Procedure

The general insolvency procedure provided by the Romanian law applies to debtors who are insolvent or imminently insolvent. The procedure will begin with a petition filed in court by the debtor or by creditors, and any other persons or institutions mentioned by the law.

 

Read more


Summons of Payment in Romania

NOTE: The Summons of Payment Procedure is no longer in effect as a result of the enforcement of the Romanian Civil Code. This procedure has been replaced by the Ordinance of Payment procedures. To read more on this subject please see www.theromanianclub.com/ordinance-of-payment-romania.com

The Summons of payment is a special Court Procedure designed for faster recuperation of commercial debt in Romania. This procedure takes place at the creditor’s request with the purpose of executing freely or forcedly debts representing obligations of payment of certain amounts, assumed through a written contract or determined through a different statute, regulation or written document, agreed upon by the parties by signing or through another lawfully admitted method and which attests rights and obligations regarding the execution of certain services, work etc.
It is to be underlined that the procedure of Summons of Payment is only applicable to obligations implying payment of certain amounts and is non-applicable to goods.

It is important to note that the Romanian Court might not admit certain Summons of Payment trials, if the judge considers written proof to be insufficient; the only admissible proof during the Summons of Payment procedure being written documents.
Competence for a Court Decision for a request from the creditor belongs to the Romanian Local Court for civil cases, respectively to the Tribunal for commercial cases, not depending upon the value.
The procedure institutes a direct way for the creditor to address a request to the Court without any prior procedure, the first condition for the first hearing being verifying the possibility for the reconcilement of the parties.
Per the Romanian legislation in effect the citation for Court hearings is performed on an urgent basis. Also there is one other important advantage over the Common Law procedure, namely the much less consistent Court Fees.

Please contact us for more information about this type of trial in Romania.

 

------------------

DebtCollectionRomania.com has partners with numerous other debt collection agencies in Europe. If interested please read our article on how to recuperate debt from French companies.

  
  
 
 

» Who we are
Enescu & Cuc is a business law firm situated in Bucharest, Romania, specialized in commercial law and commercial litigation. Our Law Firm has represented a large number of foreign clients requiring professional debt collection services in Romania. We have offered assistance for individual cases exceeding 3 mil. USD. 
We handle:
Initial verifications of debtor

Pre-trial Debt Collection Proceedings        Commercial Debts    Personal Loans             Commercial Loans    Amounts related to unpaid goods                           Enforcement of existing Court Decisions        Representation in Insolvency

Contact us

Phone/Fax:

+40 21.232.14.99
Mobile:
+(4)0744 156 374

Email:

office@debtcollectionromania.com

Copyright 2011 DebtCollectionRomania.com

A service provided by Lawyers Romania

Company Formation Turkey Company Formation Romania Swiss Company Formation Belgium Company Registration Lawyers in Luxembourg

click tracking

Home | Costs | Steps | FAQ | About us | Contact