It is a truism that, as a rule, economic crises (and not only) have a certain cyclicality, relatively easy to detect. Trying to capitalize on the “calm before the storm”, the European Legislator has focused on a difficult area during the previous crisis – insolvency. Applying the medical principle: it is easier to prevent than to combat, he focused in particular on the area just before insolvency, from a logical and chronological perspective, ...

Adoption and entry into force in 2014 of Law no. 85/2014 on insolvency prevention and insolvency procedures led to the modernization of insolvency legislation in Romania.The year 2020 has brought major global challenges, with the coronavirus pandemic causing unrest on all fronts, with significant effects on the global and national economy.Law no. 55/2020 aimed to provide some additional protection measures to companies in financia...

In the present study we aimed highlighting the areas in the field of insolvency where a modernisation of regulations is necessary, in order to address deficiencies posed by the current legislative framework. This paper aims to conduct an analysis of the concept of rescuing companies within the European reference laws and of the reasoning underlying its, taking into account the key factors that have influenced the development of various insolve...