This is a summary of the most important social, commercial, insolvency, fiscal and economic measures provided by Romania’s Governmental Emergency Ordinance no. 70/14.05.2020 (“GEO 70”) as amended in relation to the COVID-19 pandemic.

GEO 70 was published in the Official Gazette no. 394/14 May 2020, Part I, and entered into force on its publication date (i.e. May 14, 2020).

I. Definitions:

“GEO 30” means the Governmental Emergency Ordinance no. 30/2020 for amending and supplementing certain laws and for establishing social protection measures in the context of the epidemiological state determined by the spread of SARS-CoV-2 coronavirus, as amended and supplemented.

“State of Alert” means the 30-day state of alert starting on May 18, 2020, declared by the Governmental Decision no. 394/2020, in force since May 18, 2020, declaring the state of alert and the measures to prevent and control the effects of the COVID-19 pandemic.

II. Summary:

1. Social protection measures

(a) Compensation for the unemployed (art. XI) and compensation for lawyers and other professionals (art. XV) under GEO 30, amounting to a maximum of 75% of the average gross income set out in Law no. 6/2020:

1. Continue to be provided after May 31, 2020, in the economic areas in which restrictions continue to apply;
2. Cannot be subject to seizure, irrespective of the budget they are paid from; and

(b) The use of electronic mail as the main communication means with various state institutions remains applicable until June 14, 2020;

2. Measures regarding the activity of the National Trade Registry Office

(a) Until November 15, 2020:

1. The activity of the National Trade Registry Office is carried out mainly by electronic means and correspondence.
2. Rules for work with the general public: (A) The trade registry office will be open for four hours per working day, split into two time intervals; between these two intervals the offices open to the general public will be disinfected; and (B) Access to the trade registry office is permitted for a single person at the counter at a time, limited to the number of available counters.
3. The statements on own responsibility attached to registration/other requests can be given under private signature and delivered to the trade registry office (with no other formalities) by electronic means (with electronic signature) or by post or courier. They can also be signed in authentic form, certified by a lawyer, or can be given at the trade registry office.
4. The signature specimen (where required by law) can be submitted to the trade registry office (A) legalized by a notary public, (B) certified by a lawyer, (C) under private signature, with no other formality or (D) can be signed at the trade registry office.

(b) The ultimate beneficial owner statement:

1. The term for submission is extended until November 1, 2020.
2. Submission can be made under private signature or in electronic form and can be submitted to the trade registry office (with no other formality) by electronic means (with electronic signature) or by post or courier. It can also be signed in authentic form, certified by a lawyer, or given in at the trade registry office.

3. Insolvency-related measures

(a) During the State of Alert, the insolvent debtor can, but is not obliged to, submit to the court a request for insolvency under the Insolvency Law. The debtor will attach to the request evidence of having given notice to the competent fiscal authorities on their intention to open insolvency proceedings.

(b) The mandatory 30-day term for a debtor to apply for the opening of insolvency proceedings provided in art. 66, para. (1) of the Insolvency Law is suspended during the State of Alert; this term begins to lapse on the date on which the State of Alert ends.

(c) Further, the mandatory deadlines for a debtor to submit for insolvency set out in art. 66, para. (2) (good faith, extrajudicial negotiations for debt restructuring) and para. (3) (concordat or ad-hoc mandate proceedings) are not applicable during the State of Alert.

4. Amendments to GEO no. 37/2020 on facilities for loans granted by credit institutions and non-banking financial institutions to certain debtors:

(a) Debtors can apply for payment suspension until June 15, 2020.

(b) Debtors can obtain a suspension if they suffered a decrease in income or collections of at least 25% during either March, April or May 2020, compared to the average income or collections for January and February 2020.

5. Economic measures - substantiating the measures in point 4 above:

(a) Emergency State Certificates (“ESCs”) can be issued until June 15, 2020.

(b) ESCs can be issued to those business entities which have experienced a decrease in income or collections of at least 25% during either March, April or May 2020, compared to the average income or collections for January and February 2020.