About authority

The National Bankruptcy Agency was created with VKM no. 852, dated 21.10.2010, “On the manner of organization and operation of the Bankruptcy Supervision Agency”, and is subordinate to the Ministry of Justice. The agency’s mission is to provide and use efficient means to maintain the legality of bankruptcy procedures, supervising the activity of bankruptcy administrators.

The functions of the National Bankruptcy Agency are foreseen in the law no. 110/2016, article 203.

The Agency has the following rights and powers:

a) grant, cancel or renew licenses for bankruptcy administrators and supervisors, in accordance with the provisions of this law;

b) design and administer exams for bankruptcy administrators and supervisors; c) keep the register of certified bankruptcy administrators;

c) to control and supervise the standards of professional behavior of bankruptcy administrators and supervisors during the bankruptcy procedure;

d) collect and process statistical data and other data related to bankruptcy procedures;

e) to propose the standards of conduct and competences in bankruptcy administration, as well as the Code of Ethics, and request their implementation through the undertaking of sanctions and disciplinary measures, as well as to request from the bankruptcy administrators and that supervisor a report every 3 months for the implementation of their duties;

f) to implement any other duty determined by the law.

Article 43, Law no. 110/2016 provides for: Appointment of administrators in bankruptcy

1. The bankruptcy court is competent to appoint bankruptcy administrator, supervisory administrator and temporary administrator the candidate who is suitable for the case and independent of creditors and debtors.

2. According to point 1 of this article, a person who:

  • has a family or business relationship with the debtor or its officers, directors, staff, shareholders or creditors;
  • has a family or business relationship with the bankruptcy court;
  • serves as an officer, director, staff or shareholder of direct competitors of the debtor’s activity;
  • was bankrupt at the time of appointment;
  • cannot be appointed as the head of a commercial company, according to the legislation in force;
  • has given professional advice to the debtor in advance.

Determination of the minimum standard of living: