On the early maturity of receivables before their term. compatibility between the provisions of article 1417 of the civil code and the provisions of insolvency legislation Cover Image

Scadența anticipată a creanțelor neajunse la termen. Compatibilitatea art. 1.417 din Codul civil cu prevederile legilor insolvenței
On the early maturity of receivables before their term. compatibility between the provisions of article 1417 of the civil code and the provisions of insolvency legislation

Author(s): Mihaela Sărăcuţ
Subject(s): Law, Constitution, Jurisprudence, Civil Law
Published by: Universul Juridic
Keywords: non-mature receivables; early maturity; compatibility;

Summary/Abstract: Law no. 85/2014 has a rendered inapplicable art. 1417 of the Civil Code in insolvency, so payment terms will remain the same for the debtor who is a party in an ongoing contract, a contract maintained by the judicial administrator, as well as for the debtor party to a loan or leasing contract extended by the judicial administrator. An exception applies when bankruptcy procedures are initiated. Thus, the provisions of art. 150 paragraph (4) of Law no. 85/2014 establish that all monetary receivables payable by the debtor are considered mature at the moment when bankruptcy is initiated, except for instances involving qualified financial contracts or bilateral compensation agreements. In the absence of art. 123 of Law no. 85/2014, applying the provisions of art. 1417 of the Civil Code would render illusory all insolvency proceedings, since the early maturity of receivables would make it impossible to restructure the business, given that successful restructuring requires the negotiation, rescheduling and even reduction of accumulated debt.

  • Issue Year: 77/2021
  • Issue No: 2
  • Page Range: 12-15
  • Page Count: 4
  • Language: Romanian
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