Particularităţi privind compentenţa şi organele care aplică procedura insolvenţei grupurilor de societăţi, în regimul legii nr. 85/2014
Particularities Regarding the Competence and Bodies Applying the Insolvency Procedure of Groups of Companies, under Law No. 85/201

Summary/Abstract: Law no. 85/2014 brings for the first time in the Romanian legislation a set of rules applicable to the insolvency of the group of companies. In Law no. 85 /2014 is defined, in article 5 point 35, the group of companies as two or more companies interconnected by control and / or holding the qualified participations. As regards the insolvency of the groups of companies, the general rules in this matter are applicable but also specific provisions regarding the competence and the bodies applying the procedure. The competent court is the court in which the parent company has its headquarters or the company with the highest turnover within the group, all cases being distributed to the same union judge. The creditors' committees of each member of the group meet quarterly for the analysis and the reorganization plan. The special administrator may be the same for each member of the group. The judicial administrators must cooperate in the respective procedure, and the creditors who own at least 50% of the credential and are the same for each member of the group may designate the same judicial administrator or a consortium of administrators.

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