BRIEF CONSIDERATIONS ON THE FINANCIAL CRISIS AND INSOLVENCY OF THE ADMINISTRATIVE-TERRITORIAL UNITS IN THE VIEW OF THE NEW REGULATIONS

Elise-Nicoleta Vâlcu, Ionel Didea, George Popa

Abstract


The reason for which the Government Emergency Ordinance No 46/2013 regarding
the financial crisis and insolvency of administrative-territorial units is the fulfillment of the
obligations assumed by Romania in order to reduce the overdue registered by the
administrative-territorial units to their suppliers of goods, services and works. The article
aims to analyze the general framework and the procedures regarding the coverage of the
liability and the financial recovery of the administrative-territorial units which are in a
financial crisis or in insolvency, relating to the general framework for insolvency, namely
Law No 85/2006, as well as the Law No 273/2006 regarding local public finances updated
and amended by Law No 13/2011.

Keywords


financial crisis, insolvency, financial recovery plan, main credit release authority, bankruptcy judge, National Register for the Insolvency Cases of the administrative-territorial units

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DOI: https://doi.org/10.15837/aijjs.v7i4.816

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