The Ministry of Finances issued Order no. 2810/2019 regulating the procedure to apply the debt restructuring methods.
The procedure applies to companies/entities with a bad financial position and have overdue debts to the state budget equal or higher than RON 1 million at December 31st 2018.
The restructuring may be done by debt rescheduling, conversions of debts to the share capital (only for public companies), payments in kind with real estates or write off of maximum 50% from the principal.
In order to access the facilities the subjects must apply until September 30th 2019.
The Order does not refer to similar methods for entities with overdue debts below RON 1 million, a different regulation is therefore due/expected.