Insolvency proceedings and liquidation of companies

Insolvency and liquidation procedures in Romania are conducted through the National Trade Register Office.

Legislation

You will find further details on insolvency in Law No 85 of 2014 on insolvency prevention and insolvency proceedings, as subsequently amended and supplemented.

The list of all the legislative acts regulating the Insolvency Proceedings Bulletin (IPB) can be found here.

For a detailed presentation of insolvency proceedings, please access the following page of the National Trade Register Office website.

Types of liquidation procedures

In Romania, legal persons have the following options available:

• Legal dissolution of a single-member company (SRL)
• Legal dissolution of a general partnership (SNC), limited partnership (SCS), multi-member company (SRL), joint stock company (SA) and limited equity partnership (SCA)
• Simultaneous dissolution and liquidation of an SNC, SCS, SRL and economic interest group (EIG)
• Voluntary dissolution and liquidation of an SNC, SCS, SRL, SA and SCA with a liquidator appointed
• Judicial dissolution and liquidation due to invalidity or by court decision