EY România: Concordatul preventiv poate salva companiile viabile

Preventive concordat is a significant development in restructuring law, allowing viable companies to overcome financial difficulties before insolvency. Despite Romania's alignment with European standards, its use remains limited compared to other European economies. Recent legislative changes aimed to encourage early restructuring, yet many companies still address financial issues too late. Data shows a rise in preventive concordat procedures, but they are still underutilized. The success of these procedures is hindered by unrealistic restructuring plans and operational issues. Early intervention is crucial for effective restructuring, and preventive concordat should be viewed as a proactive management tool rather than a last resort.