BANKRUPTCY AND THE BUSINESS ENVIRONMENT ACCORDING TO THE NEW ROMANIAN CRIMINAL CODE

Gheorghe Ivan () and Mari-Claudia Ivan ()
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Gheorghe Ivan: Faculty of Judicial, Social and Political Science,“Dunarea de Jos” University of Galati, Romania
Mari-Claudia Ivan: Faculty of Law, “Titu Maiorescu” University, Bucharest, Romania

Perspectives of Law and Public Administration, 2012, vol. 1, issue 1, 50-54

Abstract: Sustainable development imperatively requires the existence of a market economy based on fair competition, honest behavior regulations and observance of the law as well as prevention and fight against the offence of bankruptcy. Bankruptcy is an offence pertaining to the business environment. Bankruptcy (insolvency) means the cessation of payments together with financial irregularities to the prejudice of the creditors. As such, the general or group legal scope of the offence of bankruptcy is represented by the business relations. Nevertheless, according to the new Romanian Criminal Code passed by Law no. 286/2009, bankruptcy was included among the offences against patrimony, the subgroup of dishonesty offences, without consideration of our legal tradition or foreign legislations on the part of the legislator.

Keywords: bankruptcy; sustainable development; criminal illegality; business environment (search for similar items in EconPapers)
JEL-codes: K14 (search for similar items in EconPapers)
Date: 2012
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