Opening insolvency proceedings at creditors request. Conditions for application submission
Opening insolvency proceedings at creditors request. Conditions for application submission

Summary/Abstract: By association with other legislation, where the economic and social considerations are more important than other legal factors, the main objective consists in saving the debtor and the research for viable solutions to the detriment of payment of liabilities, in our insolvency legislation, trying to satisfy the interests of both creditors and debtors, covering the debt with reorganization of the debtor.The paper analyzes the circumstances in which creditors are entitled to make application but also the legal consequences of non-compliance with these conditions.

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