Theoretical and practical issues related to dissolution and liquidation of companies
Theoretical and practical issues related to dissolution and liquidation of companies

Summary/Abstract: The field of corporate law is marked by many changes, by development of judicial and arbitration practice, as well as by important European influences. Companies are the core of a performing market economy, but what needs to be understood is that companies are payers of taxes and duties to local and general budget.Thus, dissolution and liquidation are the two compulsory phases of the process of a company’s cessation of business, regardless of how it was formed, which phases have raised over time different controversies in specialty practice, some of them originating from incomplete regulation by legislation or from non uniform interpretation of legisla¬tion in the matter, which interpretation has led to emergence of some practical issues that aggravated both the two procedural phases and the opposability of this procedure to third parties, most of them being affected by non recovery of debts from the company being wound up as a result of termination of the liquidation proceedings.

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