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What does the Romanian insolvency register offer?

Insolvency proceedings in Romania

The Insolvency Proceedings Bulletin (IPB) published by the National Trade Register Office registers summons, communications, convening notices, notifications of procedural documents issued by courts and by judicial administrators/liquidators performed in the frame of insolvency proceedings in accordance with Law no. 85/2006 on insolvency proceedings.

General insolvency proceedings apply to:

1. Traders :

Trading companies;
Cooperative companies;
Economic interest groupings;

2. Cooperative organisations;
3. Agricultural societies;
4. Other private legal persons carrying out economic activities.

Simplified insolvency proceedings apply to:

1. Traders;

Authorised natural persons;
Individual enterprises and family enterprises

2. All traders and legal persons who satisfy a series of specific conditions, i.e. :

They do not hold any patrimonial assets;
Their incorporation or accounting documents cannot be found;
Their administrator cannot be found;
Their registered office no longer exists or is no longer the same as that declared to the trade register; they failed to submit documents required by law;
They are dissolved before formulating the writ of summons; or
They declared an intention to enter into voluntary liquidation.

The central commercial/trade register is managed by the National Trade Register Office, a public institution with legal personality, part of the Ministry of Justice.

The Insolvency Proceedings Bulletin

What information does it contain?

The Insolvency Proceedings Bulletin contains all the procedural acts issued by the courts and by the judicial administrators/liquidators following the launch of insolvency proceedings, namely:

Subpoenas, issued by counterparties in some situations;
Contestations;
Second appeals and other requests;
Communicated procedural acts and decisions of the courts;
Trial convocations;
Notifications;
Other procedural acts stipulated by law (reports issued by the judicial administrator/liquidator, judicial re-organisation plans, announcements).

How is the Insolvency proceedings bulletin website organised?

The website of the Insolvency Proceedings Bulletin provides access to the following information:

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 (IPB) has the following sections:

information regarding the establishment of the IPB;
legislative acts;
organisational chart of the National Trade Register Office, the trade register offices attached to tribunals and the IPB;
legal dictionary (insolvency);
IPB statistical data;
inter-institutional relations;
contact information.

The Insolvency Proceedings Bulletin is available on the e-services portal of the National Trade Register Office, in the section dedicated to the Insolvency Proceedings Bulletin, and has the following structure:

The Insolvency Proceedings Bulletin (IPB) is organised in the following sections:

Information on the establishment of the IPB;
Acts;
Draft legislation;
The organisational structure of the National Trade Register Office;
The Directorate Bulletin of Insolvency Proceedings and the trade register offices attached to national tribunals;
The IPB
A legal dictionary (insolvency);
Studies and documentation;
Meetings and working meetings;
IPB statistics;
Inter-institutional relations;
Insolvency in the media; and
Contact information.

The section on the IPB is organised in the following sub-sections:

1. IPB Services :

‘Insolvency Proceedings Bulletin online’ (fee-based);
the "Issue Summary IPB" (free information);
the "Persons published in the IPB" (free information)

2. IPB supply: information on how to supply the IPB,

Online forms for publication in the IPB;
Offline forms for the IPB.

3. IPB publication forms: applications for the publication of papers and proceedings to be published in the IPB

Online forms for providing IPB information;
Offline forms for the IPB.

4. Statistical data.

Is access to the Romanian 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:

the e-services portal of the Romanian National Trade Register Office, the section containing the Insolvency Proceedings Bulletin.

Access to services provided by the IPB 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 ‘IPB issue summary’ and ‘Persons published in the IPB’ is free of charge and requires only user registration.

How to search the Romanian insolvency register

The ‘Insolvency Proceedings Bulletin online’ can be searched by the number and year of publication of an issue, name of the debtor, tax identification number, registration number in the Trade Register, reference number of the court case, and the publication interval of an issue. Upon payment of a subscription fee, it is possible to have access to the IPB issues published containing the full text of the procedural acts.

The ‘IPB issue summary’ can be searched by the number and date of the issue. The following information can be accessed free of charge:

Type of procedural document published in the Bulletin (e.g. summons, sentence for insolvency proceedings opening, notification for insolvency proceedings opening, convocation of creditors’ meeting, activity report, reorganisation plan, sentence for bankruptcy procedure opening, notification for bankruptcy proceedings opening, distribution plan, final report, sentence for insolvency proceedings closure, etc.);
Names of the persons addressed by the proceedings documents;
The county of registration of the respective persons' office;
Fiscal identification code;
The registration entry number in the register

The ‘Persons published in the IPB’ can be searched by the number and year of publication of an issue, name of the debtor, tax identification number, registration number in the Trade Register, reference number of the court case or the publication interval of an issue. The following information can be accessed free of charge:

Name;
Fiscal identification code;
Registration entry number of the persons addressed by the proceedings documents;;
The county of registration of the respective persons' office;
The number of the insolvency case and the name of the court where the case is registered;
Bulletin issues in which the procedure documents related to the respective persons;
Type of procedure;
The first judgment term established after the opening of the procedure, where appropriate.

History of the Romanian insolvency register

The Insolvency Proceedings Bulletin was established in 2006 under 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, calls and notifications of procedural documents published.

Benefits of the Romanian Insolvency Register

The Publication of the Insolvency Proceedings Bulletin brings clear benefits:

It speeds up the insolvency procedure, and simplifies the release of summons, convocation, notifications and communication of the procedural documents by law courts and judicial administrators/liquidators, thus establishing an electronic procedure for such matters.
It unifies and standardises the procedural documents issued by law courts and judicial administrators/liquidators.
It contributes to the development of a national database of procedural documents issued by law courts and judicial administrators/liquidators (i.e. summons, communications, judgments, convocations, notifications, reports, reorganisation plans).
It facilitates rapid registration in the trade register / other registries in respect of notifications required under Law no. 85/2006 on insolvency proceedings.
It gives interested persons access to the procedural documents issued by law courts and judicial administrators /liquidators.

Bankruptcy and insolvency registers