What information does the Romanian Insolvency Register provide?
Insolvency proceedings in Romania
The Insolvency Proceedings Bulletin (BPI), published by the National Trade Register Office, summons parties, issues notices and convocations, and provides notifications of procedural acts issued by courts and insolvency administrators/liquidators in the course of insolvency proceedings in accordance with Law No 85/2014 on insolvency prevention and insolvency proceedings.
The general insolvency procedure applies to:
1. Professionals (all those operating an undertaking), with the exception of those practising liberal professions and those for whom there are special provisions relating to the insolvency regime.
The simplified insolvency procedure applies to:
1. Professionals;
- sole traders;
- sole proprietorships and family businesses.
2. Debtors meeting a number of specific criteria, namely:
- they do not hold assets;
- the constituting or accounting documents cannot be found;
- the administrator cannot be found;
- the registered office no longer exists or is no longer the same as that recorded in the trade register; they did not submit the documents required by law;
- they are the subject of dissolution before the application initiating proceedings is submitted;
- they have declared their intention to go bankrupt or are not entitled to judicial reorganisation.
Since the end of June 2014, insolvency proceedings are governed by Law No 85/2014 on insolvency prevention and insolvency proceedings, the provisions of which apply to legal processes initiated after its entry into force. Legal processes initiated before the entry into force of Law No 85/2014 remain subject to the provisions of Law No 85/2006 on insolvency proceedings.
Insolvency Proceedings Bulletin
What information does it include?
The Insolvency Proceedings Bulletin contains all procedural acts issued by the courts and insolvency administrators/liquidators in the course of insolvency proceedings, namely:
- summonses;
- notices;
- notifications;
- convocations;
- court decisions;
- other procedural acts required by law (reports issued by the insolvency administrator/liquidator, judicial reorganisation plans, announcements).
How is the website of the Insolvency Proceedings Bulletin structured?
The website of the Insolvency Proceedings Bulletin provides access to the following:
- free information;
- information regarding the structure of the National Trade Register Office, Directorate for the Insolvency Proceedings Bulletin;
- specific legislation, forms and procedural acts.
The website of the Insolvency Proceedings Bulletin (BPI) has the following sections:
- information regarding the establishment of the BPI;
- legislative acts;
- organisational chart of the National Trade Register Office, the trade register offices attached to courts and the BPI;
- a legal dictionary (insolvency);
- BPI statistical data;
- inter-institutional relations;
- contact information.
The Insolvency Proceedings Bulletin’s forms are available in the e-services portal of the National Trade Register Office in the section dedicated to the Insolvency Proceedings Bulletin, structured as follows:
1. BPI services:
- ‘Insolvency Proceedings Bulletin online’ (fee-based);
- ‘BPI issue summary’ (free information);
- ‘Persons published in the BPI’ (free information).
2. Forms relating to BPI’s publication activities:
- Online forms for publication in the BPI;
- Offline forms for the BPI.
3. Forms relating to BPI’s information dissemination activities.
- Online forms for providing BPI information;
- Offline forms for the BPI.
4. Statistics
Is access to Romania’s Insolvency Register free of charge?
The Insolvency Proceedings Bulletin is published in electronic format. The electronic version of the Bulletin can be accessed online on:
Access to services provided by the BPI is differentiated:
- users can access the official website of the Insolvency Proceedings Bulletin free of charge and without registration;
- access to the e-services portal of the National Trade Register Office requires user registration;
- access to ‘Insolvency Proceedings Bulletin online’ is granted upon registration as a user and payment of a subscription;
- access to ‘BPI issue summary’ and ‘Persons published in the BPI’ is free of charge and requires only user registration.
How to search in the Romanian Insolvency Register
In ‘Insolvency Proceedings Bulletin online’, searches can be carried out using: the number and year of publication of a BPI issue, the name of the debtor, the tax identification number, the Trade Register registration number, the reference number of the court case or the BPI publication interval. With a paid subscription, subscribers can access BPI back issues containing procedural acts in full.
The ‘BPI issue summary’ can be searched using the number and date of the BPI issue. The following information can be accessed free of charge:
- type of procedural act published in the Bulletin (for example: summonses, ruling to open insolvency proceedings, notification of the opening of insolvency proceedings, convocation to meetings of creditors, activity report, reorganisation plan, ruling to open bankruptcy proceedings, notification of the opening of bankruptcy proceedings, distribution plan, final report, ruling to close insolvency proceedings, etc.);
- names of the persons referred to by the procedural acts;
- county in which that person’s registered office is registered;
- tax reference number;
- entry number in the register.
The ‘Persons published in the BPI’ can be searched using the number and year of publication of a BPI issue, the name of the debtor, the tax identification number, the Trade Register registration number, the reference number of the court case or the BPI publication interval. The following information can be accessed free of charge:
- name;
- tax reference number;
- registration number of the persons referred to by the procedural acts;
- county in which that person’s registered office is registered;
- number of the insolvency case and the name of the court with which the case is registered;
- issue numbers of the bulletins that include the procedural acts referring to such persons;
- type of proceedings;
- first court date set after proceedings have opened, where applicable.
History of Romania’s Insolvency Register
The Insolvency Proceedings Bulletin was set up in 2006, pursuant to Law No 86/2006 on insolvency proceedings.
The main objective of the Romanian Insolvency Proceedings Bulletin is the ongoing optimisation of the electronic system of summonses, notices, convocations and notifications of procedural acts published.
Benefits of the Romanian Insolvency Register
The publication of the Insolvency Proceedings Bulletin has clear benefits:
- it accelerates insolvency proceedings and simplifies the communication of summonses, convocations, notifications, court decisions and other procedural acts issued by the courts and insolvency administrators/liquidators, thereby establishing an electronic communication procedure;
- it unifies and standardises procedural acts issued by the courts and insolvency administrators/liquidators;
- it contributes to the development of a national database of procedural acts issued by the courts and insolvency administrators/liquidators (i.e. summonses, notices, court decisions, convocations, notifications, reports, reorganisation plans);
- it facilitates rapid entry in the Trade Register/other registers of notifications issued under Law No 85/2014 on insolvency prevention and insolvency proceedings;
- it gives interested persons access to procedural acts issued by the courts and insolvency administrators/liquidators.
Relevant links
Official website of Romania's Insolvency Proceedings Bulletin
Official website of Romania's Trade Register
E-services portal of Romania's National Trade Register Office
