PROCEDURA FALIMENTULUI SOCIETĂŢILOR DE ASIGURARE/REASIGURARE ÎN CONTEXTUL NOULUI CADRU LEGISLATIV AL PROCEDURILOR DE PREVENIRE A INSOLVENŢEI ŞI DE INSOLVENŢĂ
THE BANKRUPTCY PROCEDURE OF THE INSURANCE/REINSURANCE COMPANIES IN THE CONTEXT OF THE NEW LEGISLATIVE FRAMEWORK OF INSOLVENCY AND INSOLVENCY PREVENTION

Summary/Abstract: According to the new provisions of Law no. 85/2014, the bankruptcy procedure applies to the insurance/reinsurance companies provided by art. 2 of the Law no. 32/2000 regarding the activity and supervision of the insurance and reinsurance intermediaries, including their foreign branches, as well as the branches and subsidiaries of insurance companies from third-party states having their headquarters in Romania. This procedure does not apply to a branch of an insurance/reinsurance company or of a mutual company in a Member State of the European Union which has been authorized by the supervisory authority of the home Member State. Given this circumstance, in this article we will present some aspects related to the bankruptcy procedure of the insurance/reinsurance companies in the context of the legislative dynamics in this domain.

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