Debt threshold and timeline to go up for insolvency requests, banking association rep. says
The amount for which a company can ask for another company's insolvency will increase from the current level of RON 30,000 (approximately EUR 7,000) to RON 45,000 (around EUR 10,400), according to Radu Ghetea, the president of the Romanian…
Romania Insider · Journalist
· Updated · 1 min read
The amount for which a company can ask for another company's insolvency will increase from the current level of RON 30,000 (approximately EUR 7,000) to RON 45,000 (around EUR 10,400), according to Radu Ghetea, the president of the Romanian Bank Association (ARB). The number of payment delay days will also be extended from 30 to 90 days, he also said. The changes have been proposed by the banks active on the Romanian market. The insolvency law which is currently enforced in Romania was issued in 2006 and has suffered several changes ever since.
