Case Types

Insolvency
in Romania

Everything you need to know about insolvency proceedings: how they start, what stages they go through, and how to check the case status online.

What is insolvency?

Insolvency is a legal procedure regulated by Law no. 85/2014 on insolvency prevention and insolvency proceedings. It applies when a debtor (company or, in certain cases, an individual) is unable to pay their outstanding debts as they become due.

The procedure has two main forms: judicial reorganization (where the business continues under a court-approved plan) and bankruptcy/liquidation (where assets are sold to pay creditors). The goal is either to save viable businesses or to ensure fair distribution of assets among creditors.

Insolvency cases are handled by specialized tribunals (secții de insolvență). The procedure involves several key participants: the debtor, creditors, the insolvency practitioner (administrator judiciar or lichidator judiciar), and the judge-syndic who oversees the entire process.

Stages of insolvency proceedings

1

Filing (Opening the Procedure)

The insolvency procedure can be initiated by the debtor itself (voluntary filing), by creditors with outstanding debts over 50,000 RON (approx. €10,000), or by certain public institutions. The court appoints a provisional insolvency practitioner.

2

Observation Period

After opening, the insolvency practitioner assesses the debtor's financial situation. Creditors file their claims within a court-set deadline (usually 45-60 days). The practitioner prepares a preliminary table of creditors and a report on the debtor's causes of insolvency.

3

Reorganization (if approved)

If viable, the debtor or practitioner proposes a reorganization plan covering 1-3 years. Creditors vote on the plan in categories (secured, unsecured, budget claims). If approved by creditors and confirmed by the court, the debtor continues to operate under the plan.

4

Bankruptcy / Liquidation

If reorganization fails or is not possible, the court declares bankruptcy. The liquidator sells the debtor's assets and distributes the proceeds to creditors according to legal priority. The company is deregistered after the final distribution.

5

Closing the Procedure

The procedure is closed when: reorganization is successfully completed, all assets are distributed in liquidation, or there are no assets to distribute. The judge-syndic issues a closing decision.

Important deadlines

45-60 days Deadline for creditors to file their claims after the procedure is opened
20 days Period for the debtor to file a reorganization plan proposal
30 days Deadline to contest the table of creditors
3 years max Maximum duration of a reorganization plan
15 days Appeal deadline against decisions of the judge-syndic
50,000 RON Minimum debt threshold for creditors to initiate insolvency

How to check your insolvency case online

You can check any insolvency case registered in Romanian courts using StatusDosar. Enter the case number and instantly see:

  • ✓ Current procedure stage (observation, reorganization, liquidation)
  • ✓ All hearings — past and scheduled
  • ✓ Creditor claims and payment distributions
  • ✓ Court decisions and appeal deadlines
Search for a case now →

Useful links

Insolvency lawyers → Glossary: Forced execution → Related: Forced execution →

Frequently asked questions

Insolvency is a legal procedure for debtors (companies or individuals) who cannot pay their debts. It is regulated by Law 85/2014 and aims to either reorganize the business or liquidate assets to pay creditors fairly.
Insolvency proceedings typically last 1-3 years for reorganization and 6 months to 2 years for liquidation, depending on the complexity of the case and the number of creditors involved.
Yes. All insolvency cases registered in Romanian courts are publicly accessible. Use StatusDosar to search by case number and see hearings, creditor lists, procedure stages, and court decisions.
Creditors can file claims, vote on the reorganization plan, participate in meetings, contest decisions, and receive payments according to the legal priority order: secured creditors, salary claims, budget claims, and unsecured creditors.
Reorganization allows the debtor to continue activity under a court-approved plan to pay creditors over 1-3 years. Liquidation (bankruptcy) means the business is closed and all assets are sold to satisfy creditors according to legal priority.

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