SOME CONSIDERATIONS REGARDING THE INSOLVENCY PROCEDURE THROUGH ASSET LIQUIDATION REGULATED BY LAW NO. 151/2015. THE SEIZABLE ASSETS VERSUS THE UNSEIZABLE ASSETS
SOME CONSIDERATIONS REGARDING THE INSOLVENCY PROCEDURE THROUGH ASSET LIQUIDATION REGULATED BY LAW NO. 151/2015. THE SEIZABLE ASSETS VERSUS THE UNSEIZABLE ASSETS
Author(s): Carmen PălăceanSubject(s): Commercial Law
Published by: Österreichische Nationalbibliothek Wien/ Österreichisch-Rumänischer Akademischer Verein
Keywords: insolvency; debtor; legal person; insolvency court; insolvency proceedings by asset liquidation; seizable assets; unseizable assets;
Summary/Abstract: The court proceedings for insolvency through liquidation of assets apply to the debtor, a natural person in good faith, but unlike the first procedure, the insolvency procedure based on a debt repayment plan, which is an administrative procedure, this second form is a judicial procedure, the court having decision-making, control and supervisory powers.This procedure applies to the debtor for the purpose of capitalizing on the debtor's assets and / or receivables to cover the liability, followed by the release of residual debts under the law.
Journal: Conferința Internațională Educație și Creativitate pentru o Societate Bazată pe Cunoaștere - DREPT
- Issue Year: XII/2018
- Issue No: XII
- Page Range: 45-51
- Page Count: 7
- Language: English
