An insolvency procedure is taken when an organization or individual are no longer able to meet their financial obligations and pay their creditors when debts are due. Insolvency proceedings usually take place after less formal arrangements have failed and can be the result of bad financial management, of changing market trends, heightened expenses or reduced
Until the outbreak of the COVID-19 virus many companies thought they were sufficiently well organized to deal with slight disruptions to their business either directly or through the disruption of the supply chain. COVID-19 has highlighted that there will be companies who are not as strong as thought and in these cases it is not
Romania continues to be an attractive place for foreign companies to invest in, whether they be from the EU or outside. Problems often arise in the development of the investment when the question of the management of the business investment must be considered. Whilst in many cases local management can run the company, in the
Key considerations for multinationals operating in highrisk industries and jurisdictions: – Research carefully all aspects of doing business in the selected country (and town) being aware of local variations and influences;– Make enquiries using trusted local and international advisors. If possible, have verbal and written reports and meetings;– When receiving a report ask who prepared it and what is their knowledge,
In today’s global business environment, expansion strategies, partnerships and divisions within companies or firms often generate legal, tax and regulatory issues that can impact the success or failure of a transaction. What is Mergers and Acquisitions (M&A)? Mergers and acquisitions (or M&A) are transactions of changing ownership between two companies, wherein a merger is a
As a Romanian law firm, we are aware of the issues concerning money laundering not only from a professional point of view (know your client), but also from advising clients of their liabilities. This short article is to highlight issues which may not be immediately apparent and of which clients should be aware and at
A tax lawyer, also called a tax attorney, has expertise in the complicated and often-changing world of taxes. Tax lawyers act as advisers for clients in order for the last ones to optimize their financial statement while strictly abiding by the law. They may also appear at audit hearings to negotiate on behalf of their
On January 12, 2020, the II international legal summit „Investment and law in Asia and Russia” was held in Dubai (UAE), organized by the Russian Asian Legal Association (RALA). More than 150 guests from 35 countries gathered at the Radisson Blu Waterfront hotel, including representatives of the largest law firms in Asia, international banks and
Compulsory enforcement refers to the process by which a creditor enforces his claim against a debtor by the means of the state. Also, it is a procedure by which the court executors recover the fiscal and non-fiscal debts that a citizen has not paid or refuses to pay.Whether you are in the situation of obtaining