The arbitrability of the corporate litigations is, in principle, possible, especially after passing the new Civil Procedure Code (Article 542), which eliminated the condition of the pecuniary nature of the dispute. Norm of Article 63 of Companies Law no. 31/1990 does not establish an exclusive competence of the courts of law but a material and territorial one within their general competence. In addition, Article 132 paragraph (2) and fol...

Exclusion is a measure specific to intuitu personae companies. The legal enumeration can be extended through by-laws, as established by the High Court of Cassation and Justice – Panel for resolving legal issues in civil matters, by Decision no. 28/2021. Prior to this decision, the doctrine was divided, a large part considering that the enumeration is limiting. However, the shareholders cannot eliminate, through the by-laws, on...

If the associates of the limited liability company are in agreement regarding the allocation and liquidation of the assets of the company and if they warrant payment of company’s debts or provide for a settlement of receivables with the company’s creditors, the Company Law allows them to decide, concomitantly with the dissolution of the company, the means to liquidate the company and, by their unanimous vote, to decide upon distributio...