Law no. 31/1990 on companies (the “Companies Law”) provides three powers that the Extraordinary General Assembly of Shareholders of Romanian joint-stock companies can delegate to the company’s Board of Directors or Management Board (depending on whether the company’s management is organized as a single-tier management system or as a two-tier management system), as follows: changing […]

What is the primary legislation governing insolvency and restructuring proceedings in your jurisdiction? The primary legislation governing insolvency and restructuring proceedings is Law 85/2014 on preventing insolvency and insolvency proceedings. On an international spectrum, is your jurisdiction more creditor or debtor friendly? Although intended to protect the interests of both debtors and creditors, practitioners believe […]