Engaging the responsibility of the members of the management bodies and of other persons for the debtor’s going into insolvency Cover Image
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Atragerea răspunderii membrilor organelor de conducere și a altor persoane pentru intrarea în insolvență a debitorului
Engaging the responsibility of the members of the management bodies and of other persons for the debtor’s going into insolvency

Author(s): Ioan Adam
Subject(s): Law, Constitution, Jurisprudence
Published by: Uniunea Juriștilor din România
Keywords: responsibility of the members of the supervisory/management bodies; insolvency; bankruptcy; covering the debtor’s liabilities; conduct of the insolvency procedure; period of prescription;

Summary/Abstract: The provisions of Article 169 of the Law No 85/2014 on the procedures for preventing insolvency and for insolvency regulate the responsibility aimed at covering the debtor’s liabilities in case its assets do not satisfy all the claims of its debtors. The mentioned legal provisions regulate expressly determined cases in which either the members of the supervisory bodies, or the members of the management bodies of the legal person which is in a state of insolvency or any other person that has caused the state of insolvency may be obliged to cover a part of the liabilities of the insolvent debtor, provided that the activity they carried out has led to the insufficiency of the available cash funds from the patrimony of the debtor legal person. In relation to the provisions of Article 171 of the mentioned normative act, the responsibility of the specified persons may be engaged in any form of the procedure, either in judicial reorganization, or in bankruptcy. In case of judicial reorganization, the amounts of money obtained as a result of the responsibility of the mentioned persons are intended to supplement the funds necessary for the continuation of the debtor’s activity, and, in case of bankruptcy, those amounts must ensure that the debtor’s liabilities are covered. The regulation of the responsibility of the members of the supervisory/management bodies or of any other person that has caused the state of insolvency of the debtor legal person is an integral part of the procedure provided by the law on insolvency.

  • Issue Year: 2018
  • Issue No: 04
  • Page Range: 30-86
  • Page Count: 57
  • Language: Romanian