Decision: On 4 November 2021, the Constitutional Court of Romania decided that the provisions of Article 4 Paragraph 3 of Law no. 197/2018 regarding the movable publicity are not compliant with the provisions of the Constitution of Romania.
Context: The provisions of Article 4 Paragraph 3 of Law no. 197/2018 state that privately-signed documents which, according to the law, represent enforceable titles, can only be enforced if they are also registered in the National Register for Movable Property (“NRMP”).
Implications: As a consequence of the abovementioned decision, the requirement for registration in the NRMP of privately-signed documents which represent enforceable titles according to Romanian law is eliminated, and thus, the enforcement can be started on the basis of such documents even if they are not registered in the NRMP.
Applicability: The decision of the Constitutional Court of Romania shall become mandatory from the date it is published in the Official Monitor. At the date of writing, the decision has not been published in the Official Monitor.
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