6. Justiţie în contratimp: decăderea şi insolvenţa, între formă procedurală şi fond echitabil
6. Justice against the clock: forfeiture and insolvency, between procedural form and equitable substance

Summary/Abstract: The insolvency procedure, regulated in Romania by Law no. 85/2014 on insolvency prevention and insolvency proceedings, is characterized by the imperatives of celerity, public order and balance between individual and collective, private and public interests. The complexity of the legal situations it regulates justifies increased procedural rigour, including the use of sanctioning legal mechanisms such as forfeiture. In the context of insolvency, this institution takes on a particular dimension, as it is designed to ensure the smooth running of the proceedings and to protect the collective interests of the participants in the proceedings. In a collective procedure such as insolvency, with the potential to affect sometimes hundreds of creditors, it is essential that the participants act swiftly, otherwise they risk losing their subjective right or extinguishing their potestative right, as the forfeiture has a role of procedural discipline. This sanction, although essential for the smooth conduct of insolvency, can become an obstacle to the effective realization of justice if applied rigidly, without taking into account the concrete circumstances of the case. In a case where the procedural form completely prevails over the substantive fairness, justice in contra time occurs.

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