The objective of the Recommendation (CE) 2014/135/EU on new approach to business failure and insolvency is to ensure that viable enterprises in financial difficulties, wherever they are located in the Union, have access to national insolvency frameworks which enable them to restructure at an early stage with a view to preventing their insolvency, and therefore maximize the total value to creditors, employees, owners and the economy as a ...

A thorough analysis of German law in the field of personal liability of administrators and associates of insolvent companies. By means of this article, the author wishes to bring into attention of all readers relevant legislation, doctrine and jurisprudence in the field of insolvency from a highly developed economy such as Germany. Analyzing the most recent legislative innovations brought upon the German system by reforms can offer insig...

As a an insolvency practitioner named to apply the reglementation of the Gouvernement Emergency Ordonance regarding the finacial crisis, I have tried to set an coherent chain coupling of decisions and activities meant to accomplish my purpose on an imaginary task. Making this exercise, made me realise that the GEO‘s main aim as it is declared in its preambule is almost impossible to aplly. In my opinion this conclusions are only the answ...

The article investigates legal controversies arisen in practice regarding the status of creditors who benefit from a mortgage on the banking account of the debtor, when in concurrence with other creditors who aim to recover their receivables from the same person. With a special view at forced execution and insolvency procedures, the authors provide an analysis of the different approaches used by bank-account mortgagees in order to justif...

Leasing contracts are useful tools for many companies in regard to their activity. Easy to complete and often containing credit conditions more relaxed than the conditions needed in obtaining a bank loan, these agreements are included in the trade funds for a significant number of companies that go insolvent.