EconPapers    
Economics at your fingertips  
 

Romanian Law no. 151/2015 on the insolvency of physical persons. Participants in insolvency proceedings

Adriana Deac ()
Additional contact information
Adriana Deac: Department of Law, Bucharest University of Economic Studies

Juridical Tribune (Tribuna Juridica), 2018, vol. 8, issue 1, 268-280

Abstract: On June 26, 2015, in Official Gazette no. 464, Law no. 151/2015 regarding the insolvency of natural persons, with the deadline for entry into force on 31.12.2015. However, at this time, the law does not have legal effects, its entry into force being repeatedly postponed, the last deadline set for this purpose being 01.01.2018. Unfortunately, the adoption of Government Ordinance no. 30/2017 for amending and completing the Law no. 207/2015 regarding the Fiscal Procedure Code does not refer to the insolvency procedure of individuals, which is an indication that the application of the Law no. 151.2015 will be postponed. The legal approach has as general an analysis of the legal framework and of the arguments underlying the regulation of this legal institution, the presentation of the conditions for initiating the insolvency procedure of the natural person, the entities involved in this procedure, including the insolvency commissions. Also, the paper aims to explain the reasons behind the repeated delays in the application of this normative act, to identify the problems and blurring that make the law inapplicable and to provide solutions to the law.

Keywords: insolvency of individuals; insolvency commission; bankruptcy; debtor of good faith; residual debts. (search for similar items in EconPapers)
JEL-codes: K15 K35 (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations Track citations by RSS feed

Downloads: (external link)
http://www.tribunajuridica.eu/arhiva/An8v1/21.%20Adriana%20%20Deac.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:asr:journl:v:8:y:2018:i:1:p:268-280

Access Statistics for this article

More articles in Juridical Tribune (Tribuna Juridica) from Bucharest Academy of Economic Studies, Law Department Contact information at EDIRC.
Bibliographic data for series maintained by Catalin-Silviu Sararu ().

 
Page updated 2018-07-18
Handle: RePEc:asr:journl:v:8:y:2018:i:1:p:268-280