Oil and Gas in Romania

Subsoil hydrocarbon resources located within the territory of Romania are the public property of the Romanian State – Article 136 (3) of the Romanian Constitution and Article 1 (1) of the Petroleum law No. 238/2004 (Petroleum Law).

Law on Insolvency for Romanian Individuals – to finally enter into force on 1 January 2018?

An absolute novelty under the Romanian legislation, Law no. 151/2015 on insolvency of natural persons (“Personal Insolvency Law“) was adopted by the Romanian Parliament back in June 2015. Due to certain administrative reasons (e.g. need of regional administrative bodies specialized on the personal insolvency of natural persons, lack of trained personnel and financial resources)…

New Rules on Reception of Construction Works

The Romanian Government has recently adopted a new regulation for reception of construction works (“New Regulation”), which will enter into force on 29 July 2017 and will replace the former regulation from 1994 (“Former Regulation”). A brief outline of certain key aspects is set out below…