This study aims to analyze, through the eyes of a practitioner of law, the mechanism and the legal effects of the debt assumption, regulated for the first time expressly by the Romanian Civil code. Some of the particular objectives of this study are to identify the practical issues which may arise due to the interpretable and/or incomplete provisions and, correlatively, to propose possible solutions and/or approaches aimed to prevent the dama...

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 management bodi...

The paper outlines some changes made by the legislature within the Fiscal Code as a consequence of repealing the 1864 Civil Code and the 1888 Commercial Code and the coming into force of the new monistic Civil Code. The author considers that these recent changes in the Fiscal Code will influence the conduct of the parties to legal relations in the sense that they will attempt a qualification of the juridical nature of the concluded contract, ...

The paper approaches the letter of bank guarantee focusing on its status of bank credit instrument, arguing that it should be qualified as a species of bank loan and analysing the consequences of such qualification, given the absence from the new Romanian Civil code of a general regulation of bank loans and knowing that the regulation provided by the new Romanian Civil code to the letter of bank guarantee as an autonomous personal guarantee d...

The inspection of the activity carried out by the administration and management bodies organized in the entities regulated by the Law number 297/2004 and the Emergency Decree of the Government number 32/2012 is ensured by a number of institutions functioning with these bodies: the auditors of the company, statutory and internal, with the mission of exerting a permanent control of the bodies responsible with the management of the company; the ...

In the field of Romanian stock markets nowadays, the RASDAQ market presents itself as problematic in two regards: on an economic level, due to reduced trading activity, and on a legal level, due to uncertainty regarding its legal nature, low standards of shareholder protection, and the National Securites Comission’s plans of closing it down.This paper adresses the legal side of the issue. It takes a brief look at the European regulation...

There are traditional connections between the Italian and Romanian legal systems, including in the matter of corporate groups law. Within the substantial reform of the Italian Civil Code 2004 as of 2004, there were introduced legal provisions aiming to regulate the relations between the companies belonging to the same corporate group. Given that the Romanian legislation does not have such a regulation yet, we think a comparative approach with...

The authors of the study review one of the novel solutions implemented by the new Civil Code of Romania in the area of contractual obligations, namely the regulation of the unusual clauses. These are defined as a species of standard clauses and may be viewed in general as clauses which purport to alter the balance of the obligations of the parties resulting from the statutory regulation of contracts for the benefit of the party which proposes...

The objective of Dzodzi doctrine is to forestall future divergent interpretations of a provision of Union law in cases where the national law has adopted the same solution for the purely internal as for the cross-border situations. The first of the objections raised by Advocate General Cruz Villalón is that in cases where Dzodzi doctrine applies, Kleinwort Benson doctrine must simultaneously be applicable.

Open data is a hot topic in European Union in the past few years that raises a series of legal issues from different perspectives: copyright and related rights, personal data protection or re-use of public information. We are writing this article with the aim to overview the main legal problems related to open data from a Romanian legislation point of view, as well as a presentation of the relevant public policies on the topic, in order to bet...