On October 2, 2020, the High Court of Cassation and Justice dismissed the appeal of the Agency for Payments and Intervention for Agriculture (APIA) against the decision of the Bucharest Court of Appeal, confirming that APIA subsidies granted to farmers can be assigned and enforced.
After almost 5 years, PNSA has irrevocably won a lawsuit that allows creditors to enforce the EU subsidies payable to farmers by APIA.
These subsidies are due to farmers, but once the amounts to be received by farmers have been confirmed by APIA, these receivables must circulate freely. The free transfer of receivables is important for markets to function well and to settle financial bottlenecks in agriculture.
PNSA team was led by Cristian Virgil Popescu (Partner), Camelia Pătraşcu (Managing Associate) and Sorin Dincă (Associate).
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