Precautionary Measures to Protect the Debtor’s Estate from Insolvency Proceedings
Precautionary Measures to Protect the Debtor’s Estate from Insolvency Proceedings

Author(s): Rodica CHIRTOACĂ
Subject(s): Business Economy / Management, Micro-Economics, Law on Economics, Socio-Economic Research
Published by: ADJURIS – International Academic Publisher
Keywords: debtor estate; administrator; insolvency court; sealing; inventory; preservation; suspension; estate; dispose; assets; liabilities;
Summary/Abstract: The concept of debt mass formation in the literature is not clearly defined. The content of this concept is usually revealed by analysing the algorithm of actions and measures of the insolvency court, the administrator/liquidator in order to form the debtor's estate. As the first basic stage, the formation of the debtor's estate is of great importance and of maximum interest to creditors. It is in fact the preparation for the subsequent implementation of bankruptcy proceedings, liquidation of the insolvent debtor or the establishment of the debtor's solvency. The aim of this paper is to carry out a complex theoretical and practical study of the peculiarities of measures to secure and protect the assets of the insolvent debtor. In order to achieve the proposed aim, the following objectives are envisaged: identification of the general considerations of the debtor's estate, the concept of protective measures, identification of the procedural phases of application of protective measures, the importance of preliminary protective measures. The following research methods have been used in the study comparative method will be used to observe and highlight the commonalities and differences (where they exist) between the international regulations of the institution of personal bankruptcy to show how the various particularities are reflected in practice on the beneficiary respectively the legal person. In the course of the research, we will use both the deductive and the inductive method in order to ensure, on the one hand, the achievement of the general objective of formulating new concepts and theories concerning the chosen legal institution and, on the other hand, the identification of problems of application of the normative provisions and of the gaps in the legislation. By means of the logical method used in the research I aimed to demonstrate that only by starting from existing principles can deductive reasoning be leveraged from the general to the particular or singular. The main research tools used to carry out the scientific approach were the scientific publications in the field of bankruptcy, the normative acts in force, the relevant judicial practice. The expected results automatically represent the fulfilment of the objectives and the answers to the research questions. Provisional measures taken by the insolvency court, administrator/liquidator are intended to prevent the insolvent debtor, during the course of the insolvency process, from destroying, disposing of assets or ineffective administration of assets. Their importance lies in the fact that by applying these measures the rights of the participants in the insolvency proceedings are protected.

• Details
• Contents