Civil liability of company directors

The National Trade Register Office ensures that court decisions establishing the financial liability of the debtor's management and/or supervisory bodies are publicised, by publishing them in the Insolvency Proceedings Bulletin and entering them in the trade register.

The Insolvency Proceedings Bulletin is a necessary publication that enables economic operators in Romania to constantly adapt to EU market economy principles, and is a way of streamlining their businesses if signs of insolvency emerge.

Thus, if insolvency proceedings are initiated, summons, notifications, service of documents, communications and court decisions issued by court authorities and the insolvency administrator/liquidator are published in the Insolvency Proceedings Bulletin edited by the National Trade Register Office.

The publication of procedural acts in the Insolvency Proceedings Bulletin has replaced, since its creation date on 1 August 2006, the summoning of parties to proceedings and the service of procedural acts on individual parties to proceedings.

It is an exception to the rule of the presumption of service of procedural acts summons and notifications to parties to the proceedings whose registered office, domicile or place of residence is abroad and with regard to whom the service of procedural acts is subject to the Code of Civil Procedure, republished, as subsequently amended and supplemented.

You can find more information on the civil liability of company directors on the following website.