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  • ESMA issues final report on MAR

    The provisions of the Market Abuse Regulation – Regulation 596/2014 of the European Parliament and of the Council (MAR) required the European Commission to present a report to the European Parliament and the Council on certain areas of MAR.

  • Registration of writs of execution with the Romanian Publicity Register

    On 11 September 2020, Law no. 196/2020 (the “New Legislation”) amending and supplementing Law no. 297/2018 on the National Register for Publicity in Movable Property (the “Publicity Register”) entered into force. The New Legislation imposes an additional procedural step prior to proceeding to enforcement of writs of execution. Since certain credit agreements constitute writs of execution under Romanian law (as detailed in Emergency Ordinance 99/2006 for credit institutions and capital adequacy) this provision will apply as set out below. This Note focuses on credit agreements, but other writs of execution fall under the scope of the New Legislation.

  • Romania sets out procedure for financial support to employers for the acquisition of telework-related equipment

    The Order of the Ministry of Labor and Social Protection no. 1376/2020 (the “Order”), regarding the financial support and the categories of IT assets and equipment that may be purchased using the financial support granted by the state to employers for telework, was published in the Official Gazette on September 10, 2020.

  • Romania’s National Plan for Investment and Economic Recovery – Update

    To implement the National Plan for Economic Recovery, the Romanian government has enacted Government Emergency Ordinance no.130/2020 on certain measures for granting financial support from external non-repayable funds (“GEO 130”). The support scheme provides €1 billion in grants to various sectors of the economy.

  • Recent amendments to Romania’s Insolvency Law

    The Romanian Parliament recently passed amendments to the Insolvency Law no. 85/2014. Some of the more prominent ones are: The amendments were introduced by Law no. 113/2020 on the approval of the Government Emergency Ordinance no. 88/2018.

  • Bankruptcy, Insolvency & Rehabilitation Proceedings in Romania (Updated)

 1. A brief presentation of the bankruptcy/insolvency/rehabilitation proceedings of the country and their main differences.
 Romanian legislation provides two main categories of such procedures:
 I. Insolvency prevention procedures -
 I.1. Ad-hoc mandate -
 If the debtor faces financial difficulties, it can request the court to open the ad-hoc mandate procedure.....
 Please see full Chapter below for more information.

  • Romania’s National Plan For Investment And Economic Recovery - Note

    With the aim of kickstarting the Romanian economy after months of lockdowns, quarantines and social distancing, the Romanian Government published on 1 July 2020 its National Plan for Investment and Economic Recovery. The plan sets out a “new model for economic development”, with investments of approximately €100 billion to be made by 2030 in various sectors (including infrastructure, agriculture and health).

  • Social distancing and other preventive measures during the Romanian state of alert

    Romania is currently in a state of alert, which is expected to end on June 18, 2020. During such time, the following rules apply, among others: Wearing a protective mask (to be changed every four hours) is mandatory in closed public areas, commercial areas, public transportation and at work. Epidemiological tests (by way of temperature measurement) and hand disinfection when entering the premises are mandatory for public institutions and authorities, economic operators and professionals.

  • Key measures under Romania’s GEO 70/2020 in reaction to the COVID-19 pandemic

    This is a summary of the most important social, commercial, insolvency, fiscal and economic measures provided by Romania’s Governmental Emergency Ordinance no. 70/14.05.2020 (“GEO 70”) as amended in relation to the COVID-19 pandemic. GEO 70 was published in the Official Gazette no. 394/14 May 2020, Part I, and entered into force on its publication date (i.e. May 14, 2020).

  • COVID-19: Solutions to the challenges faced by companies during the pandemic

    To address the profound impact that the COVID- 19 pandemic has had on the business environment, businesses of all sizes need legal support and advice. To guide you through this new world, Dentons has established a new Task Force in Bucharest, bringing together lawyers from different disciplines to assess the impact of COVID-19 on markets, business operations, financing arrangements and the work force, and develop legal solutions to avoid defaults and the threat of technical insolvency.

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