Amendments to Law 113/2020 on insolvency
The main provisions brought by law are the following:
• Increasing the threshold for debts based on which the insolvency is requested. The new threshold is RON 50,000 (the former threshold was RON 40,000);
• The condition related to the fact that the request can be submitted by the debtor only if the amount of budget debts is less than 50% of the declared total debts has been repealed;
• Removal of the mention according to which the forced execution can be started for the debts accumulated during the insolvency procedure;
• The possibility of assigning fiscal debts without conditions (e.g. the assignment price to be equal to the value of budgetary receivables).
