Critical Analysis of the Law No. 151/2015 Regarding the Personal Insolvency Proceedings
Critical Analysis of the Law No. 151/2015 Regarding the Personal Insolvency Proceedings

Author(s): Adriana Deac
Subject(s): Law, Constitution, Jurisprudence, General Reference Works, Law on Economics, Source Material, EU-Legislation, Commercial Law, Comparative Law
Published by: Societatea de Stiinte Juridice si Administrative
Keywords: insolvency; debtor; natural person; insolvency proceedings; Law no. 151/2015; Law no. 85/2014; EU Regulation 848/2015; good faith; assets; the insolvency commission; the judicial administrator;
Summary/Abstract: The work aims to offer an objective, even critical analysis of Law no. 151 of 20152 regarding the insolvency of natural persons. This regulation, entered into force on 01.01.2018, ̋celebrates ̋ 5 years of application, which is why I approached this topic with the intention of a general analysis of the provisions of the Insolvency Law of natural persons and to offer my own conclusions regarding this topic. I will analyze, in the first part of the paper, the general provision regarding the notion of insolvency, the conditions imposed by law for the initiation of this procedure, as well as the options that Law no.151/2015 makes available to the insolvent debtor depending on his legal situation. In the second part of the paper, I will analyze a series of debatable aspects that the law refers to, and I will assess the usefulness and opportunity of their regulation. The conclusions will try to offer some legislative proposals that will make this law more well-known and approachable for natural debtors in a state of insolvency. Carrying out the scientific approach, I will use different methods of interpretation, starting from the grammatical one and reaching the method of quantitative and comparative analysis.

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