A NEW CHALLENGE IN THE ROMANIAN LAW SYSTEM
INSOLVENCY LAW REGARDING INDIVIDUALS
A NEW CHALLENGE IN THE ROMANIAN LAW SYSTEM
INSOLVENCY LAW REGARDING INDIVIDUALS
Author(s): Alexandru Lucian EftimescuSubject(s): Civil Law
Published by: Österreichische Nationalbibliothek Wien/ Österreichisch-Rumänischer Akademischer Verein
Keywords: insolvency; bankruptcy; individuals; debtor; creditor; overdue amounts; patrimony;
Summary/Abstract: insolvency is the state of the debtor’s patrimony characterized by insufficiency of cash flow to pay debts, as they become overdue. The debtor’s insolvency is considered as such when, after 90 days from the overdue date, the debtor did not pay the debt towards one or more of the creditors.
Journal: Conferința Internațională Educație și Creativitate pentru o Societate Bazată pe Cunoaștere - DREPT
- Issue Year: IX/2015
- Issue No: IX
- Page Range: 148-151
- Page Count: 4
- Language: English
