NEW SANCTION IN THE ROMANIAN INSOLVENCY LAW
NEW SANCTION IN THE ROMANIAN INSOLVENCY LAW

Summary/Abstract: At first sight, the intention of the Parliament to initiate a non-patrimony penalty, next to the patrimony one derived from setting out damage to be paid personally by the person that contributed to the debtor’s insolvency state, seems praiseworthy. The years when the institution of personal liability determination in the insolvency procedures had no practical application, corroborated with the double civil penalty disciplined in the Insolvency Code, patrimony on one hand, for which the barriers existing in Law no. 85/ 2006 have been removed, and non-patrimony, lead to the conclusion that this time, the Parliament analyzed that institution and wished to transform it into a real payment instrument of receivables to the creditors.

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