ROMANIA Law and Practice Contributed by: Stan Tîrnoveanu, Alexandru Iorgulescu, Laura Retegan and Viorica Clima, Zamfirescu Racoți Vasile & Partners Attorneys At Law
6.4 Recognition and Enforceability As a general rule, foreign judgments are recognised in Romania based on a prior judicial control procedure. Several conditions need to be met, namely: • the foreign judgment needs to be final according to the law of the state where it was pronounced; • the judgment was delivered by the court of compe - tent jurisdiction; • there is reciprocity with respect to the effects of foreign judgments between Romania and the state where the court delivered the judgment; and • if the judgment was delivered without the losing party being present, the party must have had the opportunity to defend itself by being legally sum - moned by a petition filed in court for the final hear - ing, and the party must have had the opportunity to file an appeal. Romanian law also states the grounds for non-rec - ognition: • the judgment is obviously against Romanian pri - vate international law public order; • the judgment was delivered in an area of law in which the parties cannot freely dispose of their rights, with the exclusive purpose of evading the applicable law according to Romanian private international law; • the dispute between the same parties was already solved by a judgment (even if not final) delivered by a Romanian court, or it is pending before the Romanian courts; • the judgment cannot be reconciled with a prior judgment delivered abroad, which is recognised in Romania; • the Romanian courts had exclusive jurisdiction; or • the judgment can be appealed in the state where it was delivered. Once a foreign judgment is recognised based on the above-mentioned conditions, the judgment can be enforced. However, the judgment needs to be enforceable in accordance with the law of the state where it was delivered. For the recognition and enforcement of judgments in civil and commercial matters within the EU, the Regu -
ister a statement of claim in the insolvency procedure. An exception provided by law refers to the existence of a movable mortgage on a cash collateral account of the debtor in insolvency, in which case, the avail - able funds will be released to the creditor based on a simple request made within the observation period. At the same time, during the insolvency procedure, the secured creditor can request the syndic judge to lift the suspension in what concerns the creditor’s receiv - able and the immediate sale of the asset, if certain conditions are met (related to the value of the asset or lack of sufficient protection of the asset). 6. Cross-Border Issues in Insolvency 6.1 Sources of International Insolvency Law Depending on the date of opening of the procedure, in principle, the provisions of EC Regulation 1346/2000 or of Regulation 848/2015 on insolvency procedures are applicable. 6.2 Jurisdiction Foreign proceedings are recognised in Romania as: • foreign main proceedings, if they are conducted in a foreign member state in which the debtor has established the centre of its main interests (COMI); • secondary foreign proceedings, if they are con - ducted in a foreign member state where the debtor has an establishment, ie, any place of business where the debtor carries on an economic activity or an independent profession with human and mate - rial resources, and on a non-transitory basis. 6.3 Applicable Law Subsequent to the recognition of a foreign main pro - ceedings, the opening of the proceedings provided for by Romanian law against the same debtor may be carried out under the conditions provided for by Romanian law, but only to the extent that the debtor has an establishment in Romania. The effects of the proceedings provided for by Romanian law are limited to the assets situated in the territory of the Romanian State and, to the extent necessary for the application of co-operation and co-ordination, to other assets of the debtor which, according to Romanian law, must be administered in these proceedings.
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