Considerations on the Admissibility of the Creditor’s Claim in the Insolvency Procedure
Considerations on the Admissibility of the Creditor’s Claim in the Insolvency Procedure

Author(s): Cristina Cojocaru
Subject(s): Commercial Law
Published by: Societatea de Stiinte Juridice si Administrative
Keywords: Romanian business law; insolvency; insolvency proceedings; effects of the insolvency;
Summary/Abstract: According to the law, the holder of claims born prior to the opening of the insolvency proceedings, who does not submit the application for admission of the claims until the expiry of the period laid down by the law, will be deprived, as regards of those claims from the right to be in the debts' list and will not acquire the status of creditor entitled to participate in the proceedings. Thus, a claim prior to the opening of insolvency proceedings cannot be valued by means of an action brought after the closure of the insolvency proceedings, since its recovery could only be made in the context of the procedure provided for by the special law. This article aims to highlight the most important aspects on this subject, without claiming of having exhaustively treating the subject.

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