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Bucharest
May 6, 2021
BUSINESS

State shares received as guarantee, exempted from sequestration for a 5-year interval

The government will instate a 5-year interval during which state creditors will not be allowed to impound or sequestrate the shares received as guarantee in various state companies, and the state will no longer be allowed to guarantee loans with such equity, Mediafax informs. The temporary ban that will limit state creditors’ right of general guarantee will be justified by the Executive through the “fragility of Romanian economy,” affected by economic crisis, which imposes maintaining the functional stability of companies that operate in strategic sectors of the national economy and the predictability of the state budget for the payment of salaries, medical and institutional services. The government will take this measure through a draft law initiated by the Ministry of Finance.

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