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Prevention · Restructuring

Restructuring agreement

The fastest solution for a company in difficulty — direct negotiation with creditors, with no court proceedings opened.

The restructuring agreement is a legal instrument that allows a debtor in financial difficulty to negotiate directly with its creditors a plan for paying or rescheduling debts, without triggering formal court insolvency proceedings.

It is governed by Romanian Law 85/2014 and can be used both preventively (before insolvency sets in) and as an alternative to the preventive concordat. The main advantage: discretion and speed — the company does not appear in public registers as the subject of insolvency proceedings.

The process involves: analyzing the financial situation, identifying key creditors, negotiating the terms of the agreement (rescheduling, partial reduction, debt-to-equity conversion) and contractual formalization. The pace depends on the number of creditors and their willingness to negotiate.

Why this procedure
  • No publicity in public registers
  • Direct negotiation, no syndic judge
  • Available to both debtors and creditors
  • The fastest road back to solvency
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Frequently asked questions
What is the restructuring agreement?
The restructuring agreement is an insolvency-prevention procedure, introduced by Romanian Law 216/2022 (transposing EU Directive 2019/1023), through which a company in difficulty proposes a debt restructuring plan to the affected creditors. The agreement voted by creditors is confirmed by the court without opening insolvency proceedings, and management remains with the debtor.
Who can use the restructuring agreement?
Companies in a state of difficulty — at risk of insolvency but not yet insolvent — with real prospects of recovery. The procedure is suitable when financial problems are identified early, before due debts can no longer be paid.
What are the effects of court confirmation of the agreement?
From the moment of confirmation, the agreement becomes binding on all affected creditors, including those who voted against it, under the conditions of the law. Debts are paid according to the newly negotiated schedule, and the company continues operating normally, without the stigma of insolvency.