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 perspe...

As shown in the literature, preventing insolvency and, if possible, removing its incidence effects on the commercial activities is at least as important as the insolvency procedure itself. As a result, the ad-hoc mandate can help the debtors in financial difficulty to maintain their business until they manage to generate cash. Considering the importance of ad-hoc mandate as a way of saving those companies from insolvency, through this ...

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...