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EBRD Study: Romania ranks first as regards the degree of development of the insolvency office holder profession
Romania ranks first as regards the degree of development of the insolvency office holder profession, among the 27 countries assessed as part of a comparative study of the European Bank for Reconstruction and Development (EBRD).
The EBRD has recently hosted in London the Conference launching the assessment report drawn up over 2 years of comparative studies and analyses of the insolvency legislation on regulating the profession of insolvency office holder in 27 countries where the European bank grants assistance, according to a release of the National Institute for Training Insolvency Office Holders (INPPI).
According to this study, Romania got the highest percentage, in every analyzed category, as follows: licensing and registration forms to practice this profession (100 percent), ways of regulation, supervision and discipline (94 percent), initial and continuing training (95 percent), the system of appointing the office holder in procedures (100 percent), the quality and professional ethics (81 percent), legal competence and attributions (83 percent) and the remuneration (81 percent).
This percentage places Romania on the first place in terms of the degree of development of the insolvency office holder profession among the assessed countries, ahead of states such as Poland, Hungary, Croatia, Russia, Lithuania, Estonia, Latvia, Slovakia, Slovenia, etc.
Romania has put in place a solid and functional legal framework for the insolvency office holder profession, covering the key elements of this profession, according to the experts who drew up the study.
Founded in December 2012, the National Institute for Training Insolvency Office Holders runs under the authority of the Assembly of Permanent Representatives of the National Union of Insolvency Office Holders in Romania (UNPIR) and the National Leadership Council of the Union.