How does the undertaking provided by the (EU) 2015/848 regulation, as an alternative to secondary insolvency proceeding, work in România and in Hungary? Cover Image

Cum funcționează angajamentul unilateral prevăzut de regulamentul (UE) 2015/848 ca alternativă la procedura secundară de insolvență, în România și în Ungaria?
How does the undertaking provided by the (EU) 2015/848 regulation, as an alternative to secondary insolvency proceeding, work in România and in Hungary?

Author(s): Andrea Csoke, Nicoleta-Mirela Năstasie, Robert Muzsalyi
Subject(s): Law, Constitution, Jurisprudence, Civil Law
Published by: Universul Juridic
Keywords: undertaking; secondary insolvency proceeding; insolvency law;

Summary/Abstract: The 2015/848/EU Regulation (EIR-R) on insolvency proceedings contains a new instrument, undertaking, in the Article no. 36 - 38, which has not been known before in the continental legal systems. This article describes the current efforts at national level to develop the undertaking as an efficient mechanism, even in the absence of a legal procedural framework, possible practical issues in the application of Article 36. The goal is to compare legal solutions on this field in two neighbouring jurisdictions, Romania and Hungary, to show which are the similarities and differences, from a judicial perspective.

  • Issue Year: 71/2020
  • Issue No: 1
  • Page Range: 16-21
  • Page Count: 6
  • Language: Romanian