INSOLVENCY OF THE TERRITORIAL ADMINISTRATIVE UNITS IN ROMANIA
INSOLVENCY OF THE TERRITORIAL ADMINISTRATIVE UNITS IN ROMANIA
Author(s): Lavinia IancuSubject(s): Economy, Economic policy, Law on Economics
Published by: Editura Eurostampa
Keywords: insolvency; administrative units; restructuration;
Summary/Abstract: The insolvency of the territorial administrative units is a recent concern of the Romanian Parliament; the normative act concerning that subject has been passed in year 2013. It entered in force as consequence of the pressure of the International Monetary Fund, which imposed a series of conditions to Romania in view of concluding a new Framework Agreement. That law stands out given its incoherence and certain aspects that will lead to implementation difficulties. Beginning with the model of Law no. 85/ 2006, a possibility of restructuring the territorial administrative units that face financial difficulties was created.
Journal: Anale. Seria Ştiinţe Economice. Timişoara
- Issue Year: XXI/2015
- Issue No: 21
- Page Range: 163-167
- Page Count: 5
- Language: English