AEGRM - Larisa Somfalean Attorney at Law Bucharest

Considering Law Firm Larisa Somfalean Attorney at Law Bucharest, according to article 2 of the Government Resolution no.802/1999, further amended and completed, only authorized operators and their authorized agents, legal or natural entities, have the right to make registrations into the archive.

The Ministry of Justice – as the Supervising Authority in this field – authorizes the operators/agents to register the certificates of deposit as collateral into the electronic archive.

The authorization is awarded in compliance with the instructions of the minister of justice no. 3128/C/2003 on the criteria for the authorization of the archive operators.

Larisa Somfalean Attorney at Law Bucharest legal operations, subject to publicity into the electronic archive.

The Law no. 99/1999 regulates the legal regime of moveable collateral, designed to secure the fulfilment of a civil or commercial obligation arising form any contract concluded between legal or natural entities, being subject to the provisions of title VI, with regard to the rank, publicity and enforcement of the following legal deeds:

• cessions of claims;

• conditioned sales, as well as other legal deeds, irrespective of their form and name, aimed at securing the fulfilment of an obligation with an asset, as defined in article 6 of this title;

• all lease forms, including leasing, on terms exceeding one year, having as object the assets stated in article 6 to this title;

• consignment contracts having as object the assets stated in article 6 to this title, if the value of the assets to be sold, set forth in the consignment contract, exceeds the equivalent in ROL of the amount of 1,000 EUR;

• deposit securities and recipes.

The field of application of Title IV encompasses: all moveable, corporeal or non-corporeal assets, any corporeal moveable asset accessory to another immovable asset but can be removed or extracted from it, excepting buildings and building materials, even if the parties have named the contract: mortgage.

The assets to which Larisa Somfalean Attorney at Law Bucharest is applicable are the following:

• the stock of fungible and non-fungible assets;

• balances receivable of the deposit accounts, savings deposits and terms deposits opened with banking or financial institutions;

• deposit certificates, bills of lading and others;

• shares and social shares in stock companies and limited liability partnerships

• rights to the exploitation of natural resources and to the operation of public services, under the conditions provided by the law

• rights arising from investments, trademarks, copyright and other industrial or commercial property rights;

• secured claims;

• negotiable instruments;

• the universality of the debtor’s moveable property, that may encompass circulating assets and future assets;

• forests, agricultural crop, minerals and hydrocarbon to be extracted or already extracted;

• insurance policies;

• the rights arising from the lease or land tenancy of real property m) equipment, plant, agricultural devices and other similar;

• any right, whether exclusive or not, to make transactions with moveable assets or to provide services, that can be ceded by its holder, irrespective if such cession is subject to limitations or requires the consent of the grantor or the authorization of another person;

• moveable assets leased or subject to a leasing operation, for a duration exceeding one year;

• any other similar assets

H3: Interested persons in the registration of a certificate of deposit as collateral into the archive.

• Secured creditor (or its representative, empowered by certified power of attorney) may request the registration into the archive for all types of certificates of deposit as collateral.

• Debtor (or its representative, empowered by certified power of attorney) may only request the registration into the archive of the initial certificates of deposit as collateral and of the certificate for the extension of collateral to other assets.

• Special situations – the certificate of cession of the secured claim with assets registered in the initial certificate

• The modifying certificate, by which the creditor named in the initial certificate is replaced

• Certificates can be registered either by the assignee (holder, free of charge or against payment, of the security interest, the assigner (former creditor), former/current creditor or their representatives empowered by certified power of attorney ;

• Certificates cannot be registered by the debtor subject to cession that is already registered into the archive in the field: debtors

• Any person, injured by the registration or non-registration of a certificate of deposit as collateral, when the creditor has such obligation according to the law, may request the registration, provided the existence of a definitive and irrevocable court decision in this matter, by which the person is authorized to submit the application for registration for the creditor’s account.

The registration is operated by the Supervising Authority, free of charge.

Law Firm Larisa Somfalean Attorney at Law Bucharest registers law documents and counsels in AEGRM law documentation.