OLD AND NEW IN INSOLVENCY PROCEEDINGS
OLD AND NEW IN INSOLVENCY PROCEEDINGS
Author(s): Cristian DrăghiciSubject(s): Commercial Law
Published by: Österreichische Nationalbibliothek Wien/ Österreichisch-Rumänischer Akademischer Verein
Keywords: insolvency proceedings; judicial reorganization; insolvency Code;
Summary/Abstract: The basic idea of the Law no. 85/2006, with it`s modiffications , inspired by the evolution of modern concepts on traders in difficulty lies in creating mechanisms to test the recovery of the debtor, so that, if the operation is unsuccessful, to proceed with the sale of its assets and pay liabilities . Obviously, when the situation of the debtor is hopelessly compromised, not longer trying recovery, but it goes straight to liquidation in bankruptcy.Conflicting interests that must be satisfied by such legislation are mainly trade debtors of natural or legal person and those of creditors.This paper proposes an objective analysis of insolvency proceedings , in light of changes and new elements intended to make this procedure by new Insolvency Code materialized in the Emergency Ordinance no. 91/2013 on insolvency proceedings and insolvency prevention .
Journal: Conferința Internațională Educație și Creativitate pentru o Societate Bazată pe Cunoaștere - DREPT
- Issue Year: VII/2013
- Issue No: VII
- Page Range: 62-65
- Page Count: 4
- Language: English
