This page is for directors, shareholders, managers, CFOs and companies facing a criminal file connected to financial distress, insolvency proceedings or bankruptcy events (asset sales, payments, accounting records, creditor pressure).
Start by collecting the key documents and mapping the timeline. Then we assess your procedural status (suspect/defendant/witness), the authority (police/prosecutor/court) and the immediate risks (seizure, searches, preventive measures), and we plan the next steps.
When you may need this
- You received a summons or prosecutor’s order mentioning insolvency or bankruptcy-related facts.
- The company entered insolvency and transactions made before/after are questioned (payments, asset transfers, write-offs).
- There are allegations of simple bankruptcy or fraudulent bankruptcy.
- Creditors or the insolvency practitioner filed a criminal complaint regarding missing assets or accounting documents.
- Accounting records (or the lack of them) are used as evidence against management.
- Bank accounts are frozen or a precautionary seizure is considered/ordered.
- You expect searches (including at business premises) or document seizures.
- You need a strategy before giving statements to police/prosecutor or before a hearing.
- You are a “front” (formal) director and the file claims you were involved in management decisions.
- You need to coordinate criminal defence with ongoing insolvency litigation or creditor negotiations.
What we do, step by step
- Clarify status and urgency: who investigates, what offence is indicated, what deadlines run now.
- Build the timeline: key dates (default, filings, insolvency opening, asset sales, payments, board decisions).
- Collect and structure evidence: accounting data, contracts, bank statements, emails and approvals.
- Identify risk points: transactions that prosecutors typically challenge (asset undervalue, preferential payments, cash withdrawals).
- Analyse procedural acts and legality: summons, minutes, orders, seizure decisions, search warrants.
- Draft statements and defence narrative consistent with documents (avoid contradictions and “partial truths”).
- Request/contest measures when appropriate: seizure, searches, expert reports, evidence preservation.
- Coordinate with insolvency counsel/practitioner where needed, to avoid inconsistent positions between procedures.
- Prepare for trial phases: indictment review, evidentiary requests, defence strategy for hearings and appeal.
Useful documents & information for a first review
| Document | Why it matters | Notes |
|---|---|---|
| Summons, prosecutor’s orders, minutes, indictments (if any) | Shows the alleged facts, procedural stage and the authority involved | Bring the full set; note deadlines and hearing dates |
| Insolvency court documents (opening decision, table of claims, reports) | Clarifies the insolvency timeline and the framework of duties/acts | Include reports from the insolvency practitioner |
| Financial statements, trial balances, ledgers, inventory records | Key for reconstructing transactions and rebutting “missing records” allegations | If records are incomplete, explain what exists and why |
| Bank statements and payment orders (company & key persons) | Helps map cash-flow, payments to creditors and potential seizure exposure | Export in machine-readable format where possible |
| Contracts and asset-transfer documents (sale, lease, pledge, assignment) | Used to assess whether transactions were market-based and properly approved | Attach valuations, invoices and proof of payment |
| Board/shareholder resolutions and mandates | Shows who decided what, and the internal approvals | Include signatures, dates and supporting notes |
| Key correspondence (emails, letters, notices from creditors/banks) | Often proves the context: negotiations, warnings, disputes, good-faith efforts | Keep original headers/metadata when relevant |
Common risks & frequent mistakes
- Giving statements without seeing the file and without a clear document-based timeline.
- Trying to “explain” transactions verbally, while documents show different dates or values.
- Ignoring seizure risk: delays can make it harder to protect essential operating assets.
- Disorganised accounting exports and missing supporting documents (invoices, approvals, proof of payment).
- Mixing personal and company funds without clean documentation.
- Communicating with co-defendants or witnesses in ways that can be interpreted as influence or obstruction.
- Assuming insolvency is “only civil” and underestimating criminal exposure for directors and managers.
- Taking inconsistent positions in insolvency court vs the criminal file.
FAQ
Is a company director personally at risk in an insolvency-related criminal case?
Yes, depending on the facts and the alleged offence. The key issues are what decisions you made, what duties you had, what documents exist, and how the timeline aligns with insolvency events.
What should I do first after receiving a summons in a bankruptcy-related file?
Do not improvise statements. Collect the procedural documents, list key dates, and gather core accounting and banking records so the defence is built on verifiable facts.
Can precautionary seizure freeze company bank accounts?
It can, depending on the measure ordered and how it is implemented. The practical impact often depends on speed, documentation and the available procedural remedies.
Do I need insolvency documents if the criminal file focuses on transactions?
Usually yes, because insolvency events and duties can contextualise transactions, approvals and creditor relations. It also helps avoid inconsistencies between proceedings.
What evidence is typically decisive in these cases?
Accounting records, bank statements, contracts, approvals (board/shareholder resolutions), valuations and correspondence often make the difference because they anchor the narrative in objective facts.
Can criminal defence be coordinated with ongoing insolvency proceedings?
Yes. Coordination is often important to keep positions consistent, manage disclosures, and plan steps that do not create additional risks in either procedure.
Informațiile sunt generale și nu înlocuiesc consultanța juridică. Contează faptele, actele și cronologia.
Contact
Related internal pages
- Servicii avocat drept penal
- Recuperarea creanțelor: strategie completă
- Onorariul avocațial (ghid)
- Contact avocat
Sources
- Romanian Criminal Code (Law no. 286/2009) – Portal Legislativ
- Romanian Criminal Procedure Code (Law no. 135/2010) – Portal Legislativ
- Insolvency law (Law no. 85/2014) – Portal Legislativ
- Directive (EU) 2019/1023 on restructuring and insolvency – EUR-Lex
- Regulation (EU) 2018/1805 on freezing and confiscation orders – EUR-Lex
- ANABI (National Agency for the Management of Seized Assets) – official site
- High Court of Cassation and Justice of Romania (ICCJ) – official site