CONSIDERATIONS REGARDING THE ECONOMIC INTEREST IN SOME CREDIT AND INTER-SOCIETY GUARANTEE OPERATIONS
CONSIDERATIONS REGARDING THE ECONOMIC INTEREST IN SOME CREDIT AND INTER-SOCIETY GUARANTEE OPERATIONS

Summary/Abstract: This article aims to analyse the premises and the need to document the economic interest, in the context of the intercompany guarantee operations provided by Law no. 31/1990. The celerity presumed by the commercial transactions, the urgent need for competition and streamlining of the contractual documentation, especially within a group of companies, where there is a community of shareholders and management can sometimes lead to the setting-up the of intercompany guarantees without a thorough prior analysis of the economic interest, taking into consideration that any operation of a company must bring a benefit, direct or indirect, present or future. This is all the more so as the lack of such an interest can lead to a breach of the provisions on the unlawful cause as provided by the Civil Code, with important effects on the company. In other words, the economic interest has to be considered prior to the signing of the guarantee act, from a financial-accounting and legal perspective, inclusively through the amendment of the law, so that the guarantee act to be outside of any reservations.

• Details
• Contents