SITUAȚIA CREDITORULUI BUGETAR ÎN PROCEDURA DE INSOLVENȚĂ
SITUATION OF THE BUDGETARY CREDITOR IN THE INSOLVENCY PROCEDURE

Summary/Abstract: An efficient insolvency system, facilitating the return of the debtor to normal activity after successful restructuring and supporting the recovery of the receivables by the creditors, is an essential factor for the growth of the market economy and for the creation of jobs, by setting the rules distributing the risk of bankruptcy in a predictable manner. At the same time, the insolvency facilitates the settlement of the conflicts between multiple creditors, as well as the elimination of the inefficient companies from the economy, thus allowing for the new companies to penetrate the market. The insolvency system also has other divergent functions, such as: allowing for the “saving” or reorganization of a business encountering temporary financial difficulties, but is worth being saved, since the reorganization procedures often become important during the financial crisis periods, when the economy is already affected by this global phenomenon. Although the regulatory base in itself is extremely important (and, at the same time, complex, as it combines the material and procedural norms), its implementation by the courts, insolvency specialists, banks and society in general is however, in essence, much more important.

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