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Enforcement activity of the credit and non-banking financial institutions

Law no. 287/2011 regarding certain measures for organizing the enforcement activity of the receivables belonging to credit institutions and non-banking financial institutions was published in the Official Gazette no. 894 of December 16, 2011 [in Romanian, Legea nr. 287 din 14 decembrie 2011 privind unele masuri referitoare la organizarea activitatii de punere in executare a creantelor apartinand institutiilor de credit si institutiilor financiare nebancare].

According to this law, the enforcement officers registered with the Ministry of Justice until May 31, 2011 which are part of the enforcement officers bodies organized by credit institutions, non-banking financial institutions and cooperative credit institutions shall become judicial enforcement officers by submitting a request with the Ministry of Justice.

The ongoing enforcement procedures regarding enforcement titles belonging to credit institutions, non-banking financial institutions and cooperative credit institutions may be continued by the enforcement officer who began the procedure or by the competent enforcement officer according to the law, as per the creditor’s choice.

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