Directors are the pillars of corporate governance, being responsible for managing the company’s affairs with loyalty, diligence, and care, in the collective interest of shareholders. At the same time, transparency and adherence to best practices are essential for fostering trust and avoiding conflicts of interest. Regarding the shareholders, there is no corporate interest they are required to follow; however, conflicts of interest in voting a...

One of the problems that judicial practice is currently facing and which does not have a clear normative regulation is the legal situation of the assets remaining in the assets of a debtor after the closure of the insolvency procedure and the company’s removal from the register.Regarding assets unknown during the insolvency procedure, we can identify two hypotheses, with different legal consequences: a. all creditors were paid in...

The Companies Law no. 31/1990 was amended by Law nr. 265/2022. The main object of Law no. 265/2022 is a new regulation of the activity of the trade registry, repealing the previous law, no. 26/1990. In addition to the register activity, Law nr. 265/2022 brings important changes to the corporate legislation. One of these changes is the possibility for the members of a limited liability firm to pay in instalments the shares subscribed when the f...

During the incipient period of application of companies’ legislation, legal issues concerning the formation, organization and development of trade companies’ activities were examined preeminently by scholars and courts, since that was a time of creation and hope; events like withdrawal or expulsion of an associate were marginal issues that were disrupting the corporate harmony and not so often met în practice.The economic crisis affected...