Cross-border insolvency proceedings – new rules

Starting 26.06.2017 the new rules facilitating cross-border insolvency proceedings entered into force. These new rules are provided by Regulation (EU) 2015/848 of the European Parliament and of the Council.

The new rules will ensure an effective and efficient cross-border debt recovery. They focus on resolving the conflicts of jurisdiction and laws in cross-border insolvency proceedings so that will make it easier for businesses to get restructured and for creditors to get their money back.

The key features of the new rules regarding the cross-border insolvency

The main issues solved by this Regulation are:

  • group insolvency proceedings;
  • avoidance of the secondary proceedings;
  • avoidance of the bankruptcy tourism;
  • an EU-wide interconnection of electronic national insolvency registers.

This update of the regulation of the cross-border insolvency proceedings was necessary because certain modern and efficient types of national restructuring proceedings were not covered by the old set of rules.


If you want to be constantly informed about the relevant legislative updates and projects, please contact us here.

Prevention Law or how are the authorities trying to be nice

The Romanian Government has finally drafted the Prevention Law, which aims to bring education and training to the entrepreneurs. Also, the law will prevent the mistakes that entities do in their activity and to support the business environment.

The draft law has been submitted to the Senate and must be approved by the Parliament. We also wrote about this subject here and here.

So, let’s see what are they up to…

How it works

When the competent authorities make controls to a legal entity, they may observe deeds that according to the law are contraventions. Therefore, they may apply a legal sanction.

Still, the new law states that first the authority will only give a warning along with a redressing plan, which will contain redressing requirements. The requirements must be fulfilled by the entity within a deadline set by the authority, but not more than 90 days.

Furthermore, after the deadline expires, the authority will come for a second control to check the compliance with the plan. If the entity didn’t fulfill the obligations, it will be sanctioned according to the law.

Within a 3 years period, the entity can not benefit again from the legal provisions of the prevention law.

When does the prevention law apply

The provisions of the Prevention Law will apply to situations covered by the legislation in areas such as: fiscal, accounting, labor, electronic commerce, construction works, public administration, copyright, tourism, health, insolvency, consumer’s protection.

As examples, the law applies for the following deeds:

  • failure to publish on the personal internet page the fact that the entity is under the insolvency procedure;
  • failure to bring the land to the initial condition after the completion of the works, and to carry out the cleaning, arranging or rehabilitation, as the case may be, of the site and / or the adjacent lands temporarily occupied during the execution, upon completion of the basic works;
  • failure to notify the date of commencement of authorized construction works;
  • failure to give the book of construction by the investor to the owner, the documentation regarding the design and the documentation regarding the execution, at the reception of the works;
  • failure to complete and to keep the technical book of the construction according to the legal provisions;
  • failure to submit tax returns or late submission of tax returns;
  • failure to correct the defects in products or services or to replace products that do not meet the conditions within the legal term;
  • failure to fully and accurately inform the consumers of the essential characteristics of the products and services offered by economic operators;
  • failure to file at the Trade Register Office the decisions of the general meeting within 15 days, for stock companies;
  • failure to mention in the invoices, tenders, orders, tariffs, prospectus and other commercial documents issued by a company the name, legal form, registered office, trade registry number and unique registration code.

Obligations for authorities

The authorities involved must prepare and offer guides and informing materials and to publish on their sites information regarding:

  • the legislation on contraventions,
  • legal rights and obligations of the authorities in their area and of the entities subject to controls,
  • deeds for which the authorities can apply sanctions and their legal sanctions.

Also, the authorities must guide and offer help to entities for a correct implementation of the legal provisions. In this respect, they must prepare procedures for their employees. Also, they will make public the most frequent situations and their solutions and be helpful for the entities they control.

Moreover, an online portal must be implemented by the central authority. This portal will provide online services and legal resources for a correct information of the public.


Bottom line, the authorities are trying to be nicer with the business environment and with the entrepreneurs.

“The Prevention Law will grow awareness on the legal obligations and will contribute to a better information and communication with the authorities”, they say.

We will be watching the enforcement and will apprise any non-compliance or breach of the law by the authorities.

O nouă abordare a timpului de lucru: 4 zile lucrătoare și 3 zile de repaus

Un proiect de lege propune o nouă abordare a repartizării timpului de lucru: patru zile lucrătoare și trei de repaus. Proiectul este înregistrat la Senat pentru dezbatere.

Astfel, proiectul propune modificarea articolelor 112 și 113 din Codul Muncii. Concret, norma timpului de muncă va putea fi și de 10 ore pe zi, cu respectarea maximului de 40 ore pe săptămână.

Cum își motivează senatorii inițiativa

Expunerea de motive a proiectului precizează că acesta are în vedere un precedent apărut la nivel internațional. Acesta privește creșterea productivității muncii anagajaților în companiile multinaționale și în unele instituții publice.

Un studiu citat de CNN Money spune că tot mai multe companii americane le oferă angajaților posibilitatea să lucreze patru zile pe săptămână, câte 10-11 ore pe zi. Specialiștii în resurse umane apreciază că soluția poate crește productivitatea angajaților. Aceasta presupune, însă, o perioadă prealabilă de acomodare la noul program, care este în medie de 3 luni.

Care ar fi beneficiile acestui mod de lucru

Potrivit expunerii de motive, nu în toate domeniile de lucru este avantajoasă această variantă. Ea se poate aplica cu succes în industria auto. Însă în domeniile unde angajații trebuie să fie creativi, această variantă ar fi mai greu de implementat.

Inițiatorii susțin că prin faptul că va exista un weekend prelungit va crește productivitatea angajaților, dar și economia de consum.

De asemenea, acolo unde angajatorii doresc păstrarea celor 5 zile de lucru, va fi nevoie de noi angajări.

Concret: ce prevede proiectul de lege?

Proiectul prevede modificarea Codului Muncii, în sensul în care norma de lucru se va stabili cu respectarea prevederilor Directivei 2003/88/CE a Parlamentului European și Consiliului Uniunii Europene, în funcție de raportul contractual dintre angajat și angajator. Ea poate fi și de 10 ore pe zi, cu respectarea a 40 de ore pe săptămână.

De asemenea, repartizarea timpului de muncă se stabilește de comun acord între angajator și angajat și poate fi de 10 ore pe zi timp de 4 zile, cu 3 zile de repaus. Totul, cu respectarea prevederilor Directivei 2003/88/CE a Parlamentului European și Consiliului Uniunii Europene.

In plus…

Un alt proiect de lege prevede modificarea duratei minime a concediului de odihnă anual de la 21 la 25 de zile lucrătoare. Din acestea, o zi este pentru sărbătorirea zilei de naștere a angajatului.


Dacă doriți să fiți mereu la zi cu noutățile și propunerile legislative relevante pentru dumneavoastră, ne puteti contacta aici.

Startup – First thing about naming it

If you decide to open a startup in Romania the first thing that you will need to do is to obtain the name reservation for the new company. As simple this may appear, even if you find a great name doesn’t mean that you can register it as your startup name.

The basic rules for startup names

According to the Romanian law, the start up name must be written in Latin characters, primarily in the Romanian language, and not confused with other companies or previously registered names. It’s very important to know that the exclusive right of use for your startup’s name is acquired only by registering it in the trade register.

You can register a startup name only if it is available and distinctive. Now the real problem begins. The distinctiveness of the company name is appreciated both from the point of view of the writing and words order of the company name.

Distinctiveness is a B***h

To clear things up, the law provides that the following are not elements of distinctiveness:

  1. the articulation of words;
  2. reversing the order of the words that belonged to a registered or reserved company;
  3. doubling one or more of the letters or figures that belonged to a registered or reserved company;
  4. the addition or deletion of adverbs, prepositions, conjunctions, numbers, punctuation marks;
  5. abbreviations that are not likely to change the meaning of the designation;
  6. the use of different words from a semantic point of view, but with the same phonetics, or abbreviations of the words belonging to a registered or reserved company; or symbols equivalent to letters and words, for example, @, #,% etc .;
  7. the use / non-use of diacritics;
  8. adding, removing or replacing a part of the registered or reserved name;
  9. the use of the words “group”, “holding”, “company”, “trust”, “com”;
  10. adding the word “Romania” regardless of the language used.

If you need any details regarding the name reservation, please use our contact page.