This study aims to analyze the interferences between common law and insolvency proceedings regarding certain legal institutions, as they have been adapted in special legislation, in order toprevent the debtor’s acts from affecting the collective interests of creditors. The study also examines the notion of fraud, which presents different forms, having distinct meanings and effects depending on the legal institution being analyzed.

The reform of state-owned enterprises’ corporate governance through the Government Emergency Ordinance no. 109 from December 14, 2011 is mostly noticed as the promoting the „private management” of these entities. However, considering the imminent privatization of significant state-owned enterprises, the legal cornerstone of the reform relates rather to the improvement of minority shareholders protection and to the enhancement of these entitie...