Restructuring, Insolvency and Bankruptcy Procedures

In light of the hard truth that there is a relatively high level of insolvency and bankruptcy proceedings among Romanian companies, the Pârgaru, Soare & Asociații insolvency practice is built on its members’ previous involvement in some of the largest such procedures to have been experienced by the Romanian market.

Our understanding of the local and international business environment gives us high capabilities in guiding companies through reaching their objectives when dealing with the multiple ramifications caused by the financial difficulties that they face.

Acting as more than just legal advisors and considered by our clients as trusted business partners, Pârgaru, Soare & Asociații uses an integrated approach that allows offering of the best legal advice in and out of court in order for the best results to be obtained in practical manner.

Relevant previous experience includes the bankruptcy of a major Romanian insurance company, the restructuring of the most important state-owned company in the Romanian petrochemical market and the restructuring of a state-owned company responsible for a major part of the energy management for Romania’s capital, Bucharest.

Alongside these market landmarks, Pârgaru, Soare & Asociații attorneys have successfully represented creditors in both local and cross-border insolvency procedures varying in size, from banks, retailers, air transportation companies to companies from the Romanian pharmaceutical industry.

To this conclusive experience are also added our unique market capabilities in terms of criminal law, capabilities which allow us to offer a complete solution of the highest level both on the civil law side and on the criminal law side, a one-stop shop solution which is quite rarely met on the Romanian legal services market, especially visible when the interest of the persons running the companies are on the line.

The dual solution service on offer by our team owes its existence to the comprehensive criminal law experience of our co-founder, Dragoș Pârgaru, who has over 8 years of exposure to criminal law litigation and preventive consultancy. His professional highlights are accompanied by an academic passion, concluded by his PHD thesis, titled “Crimes in connection to insolvency procedures”.