RMDT provides specialized insolvency services through its authorized team members, in accordance with Emergency Government Ordinance No. 86/2006 regarding the organization of the activity of insolvency practitioners. Our lawyers advise clients on matters concerning both pre-insolvency and post-insolvency procedures under Romanian law.
Prior to the opening of insolvency proceedings, RMDT assists clients with an array of services including turnaround management and various arrangements with creditors aimed at achieving settlements that allow for the payment of the case, whether toward reorganization or bankruptcy. RMDT advises on the continuation or termination of agreements pending at the moment of opening insolvency proceedings, a decision with significant consequences for the future development of the procedure. Such decisions are tailored to each agreement, considering the entire chain of contractual relationships in which the company is involved.
The firm’s approach extends beyond the decision of whether an executory contract should be maintained or rejected to encompass the possibility of amending such contracts by reference to the debtor’s profitability, with a view to maximizing the value of the debtor’s estate as a means of satisfying creditors’ claims, enabling the contract to continue in its restructured form within the framework of judicial reorganization.
RMDT advises on the financing of companies during insolvency proceedings and the management of current claims, matters of critical importance for the potential revitalization of the business.
In cases of judicial reorganization based on a reorganization plan, RMDT ensures that all legal conditions are met, that the payment schedule of the plan represents a superior alternative to the bankruptcy scenario, and that the plan constitutes the optimal means of fulfilling the purpose of insolvency proceedings: satisfying creditors’ claims while granting the debtor a chance of survival where possible. Throughout the reorganization period, RMDT ensures that the objectives of the plan are accomplished with a view to the reinsertion of the company into the business environment.
In cases of bankruptcy, RMDT can undertake the position of judicial liquidator and manage the liquidation procedure, including the liquidation of assets, the satisfaction of claims according to creditors’ rights, and the transfer of any surplus assets to shareholders.
In determining the appropriate liquidation method, RMDT lawyers, acting in their capacity as insolvency practitioners, consider both prevailing market conditions and the necessity of ensuring that potential purchasers are afforded adequate opportunities to inspect the assets. From a strategic perspective, RMDT assesses the option of selling assets as a whole or by functional sub-assemblies, as opposed to individual asset disposals, with priority accorded to bulk sales or sales by functional sub-assemblies where market demand exists, as this method allows for a shorter realization period and more efficient capitalization of the debtor’s assets.