Denunţarea contractelor debitorului insolvent: neexecutarea eficientă ca decizie de afaceri?
The unilateral termination of the insolvent debtor’s contracts: the efficient breach as a business judgment?

Summary/Abstract: The opening of insolvency proceedings overrides the general rules applicable to the debtor’s ongoing contracts and highlights the major economic importance of these contracts by instituting various measures designed to satisfy the general goal of insolvency proceedings, which is the equal and full satisfaction of creditors and, where possible, the granting of a chance for business restoration. This task that the legislature sets for the insolvency practitioner will become his assumed goal, reflected in the measures taken with regard to the debtor’s ongoing contracts. For the practitioner who applies the procedure, the contracts become tools designed to help achieve the aim of maximising the debtor’s wealth. This paper tries to provide a brief analysis of the premises and criteria by which the measures taken by the insolvency practitioner with regard to the contractual relationships in which the debtor is involved at the time of the opening of the procedure can lead to the achievement of the stated aim of maximising the value of the debtor’s assets, using for this approach economic analysis of law theories like the efficient breach of contract theory and the business judgment rule.

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