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.

The present study represents a doctrinal assessment of the Law no. 151/2015 on insolvency procedures applicable to individuals, which was adopted by quasi-unanimous vote in the Chamber of Deputies on May 20th, 2015. While concluding the comparative analysis in the context of the Romanian judicial system particularities, we express fears that the law will most likely miss the intended target, unless the legislative body amends its c...

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...

The compensation institution of mutual receivables and payables of the creditor and debtor has regulators, both in the Insolvency Law and in Common Law. However, in the operational practice of this legal institution of extinction of obligations, during the insolvency procedure, we notice that the insolvency practitioners are avoiding this operation, as well as the syndic judges are reluctant when rulling over compensation.Men...

The coming into effect of the new Civil Code meant, among others, the changing of the contractual paradigm based on the principle of autonomy of will. The principle of the contractual balance is the new coordinator of the life of the contract and its conceptual tools are lesion – as vice of consent – and unpredictability. Both institutions are designed to ensure harmony of the content of the contract: the first one, in the initial moment, of i...

Article 1170 of the Civil Code regulates the general obligation to act in good faith in the negotiation and execution of contracts. From the legal nature of the obligation good faith has important consequences in terms of sanctioning its non-compliance: this obligation does not follow the regime of non fulfilment of an obligation contractual, i.e. it does not activate in favor of the creditor the rights stipulated in article 1516 NCC. A distin...

This article discusses the legal situation of the debtor who made a promise to sell movables or immovables prior to her subsequent judicial declaration as bankrupt, and of the creditors who made a promise to buy such goods. Taking in consideration all the „innovations” introduced in the Romanian Law in recent years, it argues that the non correlation of the dispositions of various recent legislative enactments, among which predominantly figure...