Law No. 85/2014 on insolvency prevention procedures and insolvency proceedings is characterized by the specialization, the autonomy and the strictly determined object of its regulatory norms. However, when applying these norms, particularly during the devolution of the insolvency proceedings, several conflicts, collisions and necessary correlations with other judicial norms, have been found, meant to ensure, if necessary, the primacy of...

The new Law on pre-insolvency and insolvency procedures, after settling the predicament in a special manner of liquidation of the debtor’s assets in bankruptcy, including by selling assets, offers a final solution for valuing the debtor’s patrimonial assets, using the provisions of the Civil Procedure Code, in order to sell by public auction the assets of the debtor. The disclosure of the purpose of the reference standard and of the co...

The compensation institution of mutual receivables and payables of the creditor and debtor has regulators, both in the Insolvency Law and in Common Law. However, in the operational practice of this legal institution of extinction of obligations, during the insolvency procedure, we notice that the insolvency practitioners are avoiding this operation, as well as the syndic judges are reluctant when rulling over compensation.

The right to decide the opening of the insolvency procedure, the choice of procedure, simplified or general, the designation of the representative responsible for introducing the application and the insolvency practitioner to be mentioned in this application, including the special administrator and the possibility that can safeguard the debtor company by implementing of a judicial reorganization plan are the prerogatives of the manageme...