Emergency Ordinance on Romanian Insolvency Law
New provisions aim to put an end to some abusive practices and to provide equal chances for business development.
Articol de Radiojurnal, 29 Septembrie 2018, 12:53
Romanian Government adopted an Emergency Ordinance that changes the legislation regarding insolvency. New provisions approved on 27 September aim to put an end to some abusive practices and to provide equal chances for business development.
More than 6,000 companies, with over 65,000 employees, are currently insolvent, Romanian Finance Minister Eugen Teodorovici said.
National Agency for Fiscal Administration (ANAF) will now have a clear procedure on how to handle insolvent companies, Teodorovici added.
Source:RRA, RRI.Translated by Miruna Matei
