PUBLICITY (TRANSPARENCY) OF CROSS-BORDER INSOLVENCY PROCEEDINGS
PUBLICITY (TRANSPARENCY) OF CROSS-BORDER INSOLVENCY PROCEEDINGS

Author(s): Cristina Bancu
Subject(s): Politics / Political Sciences, Economy, Law, Constitution, Jurisprudence
Published by: Editura Universităţii »Alexandru Ioan Cuza« din Iaşi
Keywords: publicity; insolvency procedures; cross-border insolvency; jurisdiction; European case-law; harmonisation; cross-border business relations;
Summary/Abstract: The article insists on the legal solutions of the transparency of the cross-border insolvency. In this study, there were researched issues regarding the existing regulatory framework of the conditions of the cross-border insolvency publicity in the Republic of Moldova and the most important analysis being focused on the provisions of the European and international regulatory framework, which demonstrates a tendency to publish the information on the insolvency procedure, in particular those with international character. The convention of the Nordic states also includes provisions regarding the publicity of bankruptcy proceedings in the contracting states where the debtor owns assets, the disposition of insurance measures, legal assistance and the recognition of judgments between the contracting states. The publicity of the procedures in a sensitive matter subject to the internal legal framework, however at the international level this subject is not a very widespread since it involves additional time and additional costs as well as confidential issues of the parties (foreigners). The author finally comes with conclusions that can be implemented in both international and national regulations regarding transparency and publicity of the procedures in the insolvency process which comes out to be difficult and involved international issues and problems.

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