Law no. 151/2015 aims to protect only the vast majority of debtors – honest, but unlucky – which, placed under its protection, can get benefits – and share considerable benefits to creditors and society – consisting of their reintegration into the economic and social life. Therefore, the regulations about debtors’ behaviour, upon the entry, during and after the procedure, will isolate and exclude the debtors who expose themselves to...

The absence of express provisions in the Insolvency Law no. 85/2006 generated contradictory jurisprudence when applying both leasing agreements legislation and insolvency law. As of June 2014, the new Insolvency Law no. 85/2014 has modified the regime of financial leasing agreements in insolvency proceedings. The new law contains express provisions regarding: on going leasing agreements, contract termination and registration of receivables re...

The business environment has great expectations with regards to the Law No. 85/2014 regarding the procedures of prevention of insolvency and of insolvency, that promises to ensure an equilibrium between the interests of the creditors and those of debtors, and which, moreover, has as intrinsically scope that emphasis on preventive measures (although there are no new elements or „import” of any international practice on insolvency prevention). ...

The new regulations on insolvency, as part of a project coordinated under the aegis of the World Bank and the International Monetary Fund, comes against the background of the amplification of the insolvency phenomenon, at both national and EU level. The tendencies recorded at European level involve a new approach, to save the business and to give a second chance to honest entrepreneurs, thus starting from the fact that insolvencies are “a fact ...

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...