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Quick service for accessing information on companies in insolvency

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Free services for checking up companies

Did you know that in Romania you may access free information on companies in insolvency from seven EU Member States? The Romanian Trade Register Office has implemented a quick service for accessing this kind of information.

Furthermore, this service is free of tax. Also, it was developed in a project run by the European Commission in collaboration with the insolvency registers of Austria, the Czech Republic, Estonia, Germany, the Netherlands, Romania and Slovenia.

Thus, the free information regards businesses that are subject to insolvency proceedings registered in the national registers of the above mentioned states. The information can be found here.

Check your business partners!

So, if you want to create a start up or if you want to finance a business in the U.E., using this service you may check your potential and current business partners by quickly accessing up-to-date and real-time information.

Also, the Romanian Trade Register Office offers free information regarding the companies mentioned in the Insolvency Proceedings Bulletin.  This information regards:

  • the name of the debtor;
  • the unique tax identification code;
  • the registration number;
  • the name of the procedural document published in the Insolvency Proceedings Bulletin;
  • the procedural document;
  • the number and date of the court file;
  • the court;
  • the bulletin number and the date of publication.

Romania wins a trial against European Commission

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Romania gets an important victory in trial case no. T-145/15 before the Tribunal of European Union against European Commission.

The action was submitted on the basis of Article 263 TFEU seeking the annulment in part of Commission Implementing Decision (EU) 2015/103 of 16 January 2015 excluding from European Union financing certain expenditure incurred by the Member States under the European Agricultural Guarantee Fund (EAGF) and under the European Agricultural Fund for Rural Development (EAFRD).

Through this Decision the Commission applied to Romania a correction amounting of about 128 million euros, which was contested in principal for lack of motivation.

Although Romania does not dispute the failures in monitoring alleged against it, it does dispute the financial consequences drawn in the contested decision of the deficiencies found.

The Tribunal held that the complaint alleging insufficient reasons for the rejection of the method of individual assessment of the various deficiencies and the complaint alleging a failure to state reasons in so far as it defines the correction rates applied, are well founded.

The decision may be appealed before the European Court of Justice.

Entire decision can be found here.

European Commission project: The Once-Only Principle — TOOP

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The European Commission (EC) has launched an 8 million euro project to interconnect the public administrations from 21 EU countries in order for the transmission of information by cross-border companies to be made only once.

The project named “The Once-Only Principle — TOOP” is part of the EU Action Plan for e-Governance 2016-2020 and will contribute to a more efficient digital market. This way the information will be delivered to the public administrations only once, regardless of the origin country of the company, and will be eliminated the unnecessary obstacles for european companies that are forced to repeatedly submit the same data and documents.

The authorities who represent Romania in this project are National Institute of Research and Development in Computer Science (who is the national manager) and National Trade Register Office (partner).