Secţiunea III. Societăţi. Insolvenţă Reorganizarea persoanei juridice în procedura insolvenţei
Section III. Companies. Insolvency Reorganization of Companies in Insolvency Proceedings

Summary/Abstract: The reorganization of the legal entity represents top interest to any commercial company, whether it is subject to reorganization, in any form of its manifestation, transformation, merger or division, divided company, either beneficiary or third party in this complex process. In the matter of insolvency, the role of third party creditors appears to be more important as they are the ones who approve such a reorganization through the vote expressed on the reorganization plan. The treatment of aspects regarding division, as a method of reorganization, part of the judicial reorganization mechanism is important, constituting an element of legislative novelty by introducing this notion as a possible form of judicial reorganization, requiring an analysis of the institution's compatibility with the imperative, derogatory principles and norms of the insolvency procedure, when the divided, insolvent company seeks to preserve and re enter economic activity based on a reorganization plan that provides the division of the debtor.

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