Incurring the Jointly and Severally Liability and the Procedure of Insolvency. Compatibility or Exclusive Character

Adina Georgeta Ponea ()
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Adina Georgeta Ponea: University of Craiova, Craiova, Romania

Proceedings of the 18th International RAIS Conference, August 17-18, 2020 from Research Association for Interdisciplinary Studies

Abstract: The procedure for incurring the jointly and severally liability regulated by the provisions of art. 25 and 26 of the new Fiscal Procedure Code also applies if the debtor is in the insolvency procedure regulated by Law no. 85/2006 on insolvency prevention procedures and insolvency proceedings. The two distinct types of liabilities engaged in two different procedures do not overlap or exclude each other. Regarding the attraction of joint and several liability, according to Article 25 para. (3) of the Fiscal Procedure Code, the text of the law stipulates as a pre-existing condition the state of insolvability or insolvency of a legal person. Therefore, joint and several liability may be incurred, according to Article 25 para. (3) of the normative act specified above, if the (principal) debtor has been declared either in a state of insolvability or in a state of insolvency.

Keywords: debtor; insolvability; insolvency; incurring joint and several liability; taxation decision (search for similar items in EconPapers)
Pages: 6 pages
Date: 2020-08
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Published in Proceedings of the 18th International RAIS Conference on Social Sciences and Humanities, August 17-18, 2020, pages 53-59

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