In 2020, the Companies Law was amended three times. Although not all of them are significant, the changes are likely to facilitate the creation and operation of companies. However, they are not sufficient to meet, on the one hand, the real needs of company partners in the decision-making process and, on the other hand, to solve law enforcement problems, which both theoreticians and practitioners have long time ago identifi ed in company law.

Practice and much of the doctrine present the document of merger or division as an authenticated one, which is a mistake. Firstly, the document is not the decision of the general assembly, and this, as negotium juris, is not a legal act but a sui generis act. Secondly, the document is the plan of merger or division, which is then subject to approval by the general assembly or assemblies. Unfortunately, the mistake is based on...

The Board of Directors and t he Supervisory Board are two essential structures within the operating mechanism of a joint stock company, both structures are organized as collegial bodies of the company, the operating of one or the other being organized within a joint stock company in accordance with its management system as decided by the shareholders, at the establishment of the company or afterwards, during its operation, by a resolution of th...

With a history of about 125 years, the unincorporated partnership/joint venture has managed to come into prominence in the daily legal life as a usual, familiar presence, not raising significant problems (doctrinal and jurisprudential equally).A regulation more than compact – articles 251-256 of the Commercial Code – placed in Title VIII On companies and commercial associations, Chapter II On associations (after Chapter I On companies), S...

Analysis of the judicial practice regarding the liability of the insolvent Debtor’s management bodies. The concurrence between the attraction of the director’s liability under the terms of art. 169 of Law no. 85/2014 and the fiscal decisions implying the director’s joint and several liability for fiscal debts.

The evolution of the insolvency legislation in Romania has led to a privileged legal regime regarding creditors with current claims, they have rights and additional protection in order to recover the claims. The holders of this type of claims have priority over payment and do not enter into competition with the creditors with claims prior to the opening of the insolvency procedure, being able to request, under certain conditions, the opening o...

The article analyzes the different way in which the Romanian courts, courts and courts of appeal, vested with the judging of the appeals against the measures of the administrator/judicial liquidator regarding the procedures of valorisation of the assets in the insolvency procedure, have solved these types of cases. Until a disassociation of this problem of law realized, according to art. 519-521 of Code of Civil Procedure, by the High Court o...

The administrator’s loyalty obligation raises a number of problems when the company he manages is part of a group of companies. Who is the beneficiary of the loyalty obligation or to whom does the administrator owe loyalty? What interest should this pursue: the interest of the company or the group? What is the content and extent of his loyalty obligation? Does it extend to business opportunities or not? The lack of legal personality of the grou...

Actions for the annulment of decisions taken by the general assembly of shareholders have been traditionally regarded as non-arbitrable in Romania.This author believes that, in the light of the provisions of the new Code of Civil Procedure, and of international developments in this area, such matters are capable of being submitted to settlement by arbitration.

The Directive regarding the restructuring and insolvency is intended to set out some business recovery proceedings based on an out-of-court reorganization plan. The business recovery plan represents the core element around which the architecture of any restructuring shall be shaped. The manner in which such a plan is intended to operate at the time the claims satisfaction percentage and modality are submitted to examination, translates in fact...