At present, the Law has been approved by the Senate but is still to be discussed by the Chamber of Deputies. If approved by the deputies, the Law would have to be promulgated by the Romanian President.

In these times of economic and financial distress, one of the first steps that any diligent businessman should take is inventorying the company’s receivables with special focus on those with actual chances of being recovered. One of the easiest ways to recover your debts is through an emergency legal proceeding: the payment ordinance. We shall emphasize the advantages that, under certain circumstances, the payment ordinance proceedings may offer to creditors.