PRINCIPIUL ACORDĂRII UNEI ŞANSE DEBITORILOR DE REDRESARE EFICIENTĂ ŞI EFECTIVĂ A AFACERII – ART. 4 PCT. 2 DIN LEGEA NR. 85/2014
THE PRINCIPLE OF GRANTING OF A CHANCE OF THE DEBTORS FOR THE RESTORATION OF EFFICIENT AND EFFECTIVE BUSINESS-ARTICLE 4 POINT 2 OF THE LAW NO 85/2014

Summary/Abstract: Regarding to insolvency prevention procedures, the debtor's chance for an efficient and effective recovery of the business is to successfully run the ad hoc mandate or pre-conciliation procedure. The pursued objective is to focus particularly on encouraging early-stage restructuring of viable enterprises, thus preventing their entry into insolvency and less on the liquidation of those enterprises. The Insolvency Code introduced the private creditor's test facility with the aim of facilitating the favorable vote of creditors, especially of public creditors, regarding pre-insolvency proceedings and judicial reorganization.

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