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Registering a Claim on the Creditor’s List in Romania

The article below refers to the method of registering a claim/debt with the Creditor’s List of a Romanian insolvent company. For instance if your Romanian debtor has gone bankrupt you can proceed with this registration. Any remaining assets belonging to the Romanian company can be liquidated in order to fulfill the debts.

Insolvency is that state of the debtor’s wealth which is characterized through the insuficiency of available funds for the payment of certain, liquid and contingent debts.

In order for a creditor to be able to satisfy his claim, this claim should be registered on the creditors’ list. There are four different kinds of creditors’ lists: the final claims’ list, the consolidated final calim’s list, the preliminary claims’ list and the suplimentary claims’ list.

These lists are defined by the Law of insolvency (85/2014) in article 5 points 67 to 70.

Thus, the final claims’ list is the list that contains all the claims against the debtor’s wealth existing on the date of the opening of the procedure, accepted in the preliminary list, against which no contention is made or those admited after the contention is resolved.

The consolidated final list contains all the claims which appear as admited in the final list and those from the suplimentary list uncontested or admited after the contention.

            The preliminary list contains all the due or undue claims born before the opening of the procedure and accepted by the official receiver after he has verified them.

            The suplimentary list contains all the claims born after the opening of the general procedure and until the beginning of the bankruptcy procedure accepted by the official receiver after he has verified them.

            A request for the opening of the insolvency procedure in Romania is filled by the creditor or the debtor. The official receiver shall send notifications to all the creditors who are mentioned by the debtor or who are identified by the official receiver in order for them to specify their claims in a term set by the official receiver. If the regulations regarding the notification are not respected, then the requests for the registering of the claim may be filled over the established term. The official receiver then verifies the claims.

            As a result of these verfications, the official receiver shall comprise and register with the court and shall publish in the Bulletin for Insolvency Procedures a preliminary list containing all the claims against the debtor’s wealth.

            The debtor, the creditors and any other interested person may formulate contentions against the claims’ list with regards to the claims and rights listed or, if the case may be, those which were not listed by the official receiver. These contentions shall be judged by the common procedure and may be admited or rejected by the syndic judge.

            After all the contentions have been resolved and the evaluation report of the guarantees has been filled, the official receiver shall register, at once, with the court and shall publish in the Bulletin for Insolvency Procedures the final list of all the claims against the debtor’s wealth, showing the sum, the priority and the situation of each claim, whether it benefits from a preferential clause or not.

            A creditor shall be able to satisfy the claim from the Romanian debtor’s wealth only if his/her claim is registered on the consolidated final creditors’ list.