BANKRUPTCY AND THE BUSINESS ENVIRONMENT ACCORDING TO THE NEW ROMANIAN CRIMINAL CODE
BANKRUPTCY AND THE BUSINESS ENVIRONMENT ACCORDING TO THE NEW ROMANIAN CRIMINAL CODE

Summary/Abstract: Sustainable development imperatively requires the existence of a market economy based on fair competition, honest behavior regulations and observance of the law as well as prevention and fight against the offence of bankruptcy. Bankruptcy is an offence pertaining to the business environment. Bankruptcy (insolvency)means the cessation of payments together with financial irregularities to the prejudice of the creditors. As such, the general or group legal scope of the offence of bankruptcy is represented by the business relations. Nevertheless,according to the new Romanian Criminal Code passed by Law no. 286/2009, bankruptcy was included among the offences against patrimony, the subgroup of dishonesty offences, without consideration of our legal tradition or foreign legislations on the part of the legislator.

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