The mechanism or technique of lifting the corporate veil, which consists of ignoring the legal personality when it is used by associates as a schield for defrauding creditors is regulated in several normative acts. In corporate matters, relevant are the provisions of art. 2371 of Law no. 31/1990, which is the main object of our analysis. In the Preliminaries, we review the general rationale for seting up legal entities, particularly companies...

This paper examines the EB-5 immigration visa, created by the United States through the Immigration Act of 1990. The Immigration Investor Programm allows immigrants to earn their Green Card / American Citizenship by investing in American businesses. Investments range from commercial real estate to solar energy plants and could only be received by an economic unit defined as a Regional Center. It also focuses on the legal aspects of regional ce...

By inserting the arbitration clause in their contract, the Parties agree that they shall both bear the costs of the arbitration proceedings equally.In its decision regarding the costs, the arbitral tribunal will consider any and all of the circumstances it deems relevant, including if and to what extent the each party carried its part of the arbitration in a time and cost-efficient manner.Regarding the subsequent allocation of cost...

The issues regarding the civil liability of the professional incites increasingly the interest of the theoreticians, and even more of the legal practitioners being often cited in the settlement of the cases subject to judgment. Our analysis aims to outline the main references which rank this legal institution, trying to sustain with solid arguments the need for the acknowledgement of freestanding liability, separated in relation to other assu...

The new Civil Code innovates the sanction of contract rescission as far as substantial law is concerned, but an adaptation of the procedural law occurs as well, Government Emergency Ordinance nr. 80/2013 concerning the judicial stamp duty being enacted especially in order to adapt the payment of tax to the new judicial institutions created by this legal norms codex. By excluding the institution of finding the unilateral extrajudicial rescissio...

Germany’s Federal Court of Justice continues to elliminate from consumer credit contracts those fees which it regards as unfair, ruling out that on the grounds of the lack of counterperformance there is an imbalance between the parties rights and liabilities. Two recent decisions, dating November 2016 and May 2017 (XI ZR 552/15 and XI 308/15) extend the control of the unfair character of terms to the Bauspar contractual savings scheme, which ...

At the expiry of the 60 days term from the maturity of the payment obligation when the creditor may request the opening of the insolvency proceedings against the debtor has the legal nature of a grace period established by the legislator in favor of the debtor and which qualifies as a restriction of the creditor’s right to act against the debtor in opening the insolvency proceedings.

In the insolvency proceeding (actually regulated by Law no. 85/2014 and previously Law no. 85/2006) the prerogative of dismissal/unilateral termination of the ongoing convention is conferred to a third party – official receiver (or liquidator), which takes over the supervision or management of the insolvent debtor’s activity from the very moment of opening of the proceeding, unilateral termination of the ongoing convention, depending on the p...

The paper highlights the role and importance of negotiation between the parties to the credit agreement in order to achieve the object of the contract. Being the legal instrument through which the parties materialized their goals on the desired consumer credit and offered by the bank; the credit agreement shall contain any provision that would lead to achieving the outcome pursued by the parties.The first phase of negotiation is performe...

By approving the Law regarding datio in solutum, the Parliament intended to create a special form for an old institution – datio in solutum – especially by eliminating the necessity of obtaining the consent of the creditor for this mean of accomplishing through payment the obligations. The solution addopted produces some effects, which are unclear as being avoided through a general derogation from the Civil code, and could lea...