The opening of insolvency proceedings upon the creditors request should not raise any problems, given that the legal regulation contained in Law no. 85/2014 seems clear. In this sense, the conditions that the creditors’ claims must meet in order to open the insolvency procedure against the debtor are those provided by art. 5 point 20 and art. 5 point 72 of the Law no. 85/2014.However, there are still controversies relating, inter...

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 co...

This study, in three parts, is dedicated to the bankruptcy crimes, simple and fraudulent, and regulated by articles art. 240-241 pf the Penal Code. This third part approaches the fraudulent bankruptcy crime. The active subject, although, de jure, not qualified, de facto is an executive within the debtor-legal person. Legal object is analyzed through the constitutive content of the infraction, which regulates three alternative ways of ac...

This study, in three parts, is dedicated to the bankruptcy crimes, simple and fraudulent, and regulated by articles art. 240-241 of the Penal Code. This second part approaches the simple bankruptcy crime. A natural person and a legal representative of a legal person can be active subject of the infraction, but not the legal person. A focus is made on the legal representative, to define such term with implications both civil and penal, a...

Law no. 31/1991 regulating the companies sets a different liability of the shareholders depending on the type of company and, therefore, the status of the shareholder in a certain type of company is directly linked with a certain degree of personal liability of that company.From this point of view it is important to determine if the associates can derogate from these legal provision and grand themselves, through the Articles of inc...

To shelter the creditors from the acts concluded by the debtor in their fraud, the law opens them the path of a special action, the Paulian action, by which the creditors can attack in justice the vilain acts concluded by the debtor with the defendant third party, requesting the competent court of law to declare them as inopposable in the relations with them allowing them to avoid the consequences of fraud.The creditor cannot pre...