Brief presentation of the provisions of novelty within the Law No 85/2014 on the procedures for preventing insolvency and of insolvency Cover Image
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Succintă prezentare a dispozițiilor având un caracter de noutate în cuprinsul Legii nr. 85/2014 privind procedurile de prevenire a insolvenței și de insolvență
Brief presentation of the provisions of novelty within the Law No 85/2014 on the procedures for preventing insolvency and of insolvency

Author(s): Sorana Popa
Subject(s): Law, Constitution, Jurisprudence
Published by: Uniunea Juriștilor din România
Keywords: insolvency; succession of laws (the Law No 85/2014, which repeals and replaces the Law No 85/2006); the main elements of novelty brought by the Law No 85/2014 as compared to the previous law.

Summary/Abstract: The Law No 85/2014 on the procedures for preventing insolvency and of insolvency (which entered into force at the end of June 2014) repeals and replaces the Law No 85/2006 on the insolvency procedure. Obviously, the current law brings a series of new elements, as compared to the previous law. This study briefly presents the main elements of novelty brought, in this matter, by the Law No 85/2014, as compared to the Law No 85/2006, reaching to the conclusion that the regulation of the new law, on the one hand, avoids the financial blocking and, on the other hand, in view of covering the claims, gives greater chances both to the debtors who are in difficulty or in default of payment, and also to the creditors, especially if they are acting in good faith.

  • Issue Year: 2014
  • Issue No: 11
  • Page Range: 78-97
  • Page Count: 20
  • Language: Romanian