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THE REORGANISATION PLAN IN INSOLVENCY PROCEEDINGS UNDER ROMANIAN LAW
Abstract
The Romanian insolvency law covers extensively the reorganization phase of the debtor, in accordance with the European legislation in this field. However, the practice has proved that the period between the approval of the creditors of the reorganization plan up to the actual applicability of the measures contained by the plan may lead to question the efficiency of the plan. The article aims to underline the importance of the reorganization plan for both the debtor in insolvency, as well as for its creditors, by considering, also, whether the opportunity of the measures adopted should be considered. The analysis, without claiming to be exhaustive, highlights the legal concepts in this field like debtor, creditors, debts, reorganization plan and turns to relevant jurisprudence that offer different views on the opportunity of the application of the measures agreed in the reorganization plan. In view of the above, by analyzing the legal provisions and the case-law, the article emphasizes the practical importance of an efficient reorganization plan.
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References8
Law no. 85/2014 on insolvency and insolvency prevention procedures, published in the Official Gazette no. 466 of 25 June 2014;
Tanasuica E., Reorganizarea judiciara – o sansa acordata debitorului aflat in procedura generala de insolventa, Hamangiu Publishing House, Bucharest, 2009, p. 200;
Tandareanu N., Plaul de reorganizare judiciara si reorganizarea [Judicial reorganization plan and the reorganization], RDC no. 10/1998, p. 74 ff.;
Tandareanu N., Procedura reorganizarii judiciare, All Beck Publishing House, Bucharest, 2000, p. 17; Adam I., Savu C.N., Legea procedurii insolventei. Comentarii si explicatii, C.H. Beck Publishing House, Buharest, 2006, p. 2006 ff.;
Schiau I., Regimul juridic al insolventei comerciale, All Bech Publishing House, p. 202;
See also Zilberstein, Ciobanu V.M., Bacanu I., Drept processual civil. Executarea silita, vol. II., Lumina Lex Publishing House, Bucharest, 1966, p. 336; Carpenaru St., Tratat de drept comercial roman. Conform noului Cod Civil, Universul Juridic Publishing House, Bucharest, 2012, p. 750;
Carpenaru St., Tratat de drept comercial roman. Conform noului Cod Civil, Universul Juridic Publishing House, Bucharest, 2012, p. 752;
Court Decision no. 473/2017, Mures Tribunal.
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