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General Considerations Regarding The Participants To The Insolvency Proceedings of The Romanian Administrative-Territorial Units

Melinda Cenuşe ()
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Melinda Cenuşe: University of Petrosani, Romania

Annals of the University of Petrosani, Economics, 2014, vol. 14, issue 2, 19-28

Abstract: In this article the author intended to continue the study of the concept of insolvency of administrative-territorial units. The insolvency of administrative-territorial units was regulated at legislative level in Romania by a Government Emergency Ordinance in May, 2013. With the adoption of the aforementioned regulations, the Government aimed a reduction in the volume of administrative-territorial unit arrears complying, at the same time, with the Stand-by Agreement with the International Monetary Fund related to the reduction of arrears, as well as to the reopening of the activity of goods and services providers which have to collect arrears from Local Government authorities. The present paper presents and explains the powers of authorities involved in opening insolvency proceedings.

Keywords: insolvency of administrative-territorial units; insolvency proceedings; arrears; Local Government authorities (search for similar items in EconPapers)
JEL-codes: K23 (search for similar items in EconPapers)
Date: 2014
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