PREVENTIVE PROCEEDINGS IN THE VISION OF THE CODE ON PREVENTINVE PROCEEDINGS OF INSOLVENCY AND OF INSOLVENCY - A FIRST STEP FOR THE HARMONIZATION OF THE EU MEMBER STATE'S LEGISLATIONS IN THIS AREA

  • Elise Nicoleta Vâlcu Faculty of Law and Administrative Sciences, University of Piteşti
  • Lavinia Olah Faculty of Law and Administrative Sciences, University of Piteşti

Abstract

In order to improve and accelerate the insolvency with cross border implications, theCouncil has adopted the Council Regulation (EC) No 1346/2000 of 29 May 2000 oninsolvency proceedings establishing the common norms on the jurisdiction, recognition andapplicable law in this area, European norm which does not harmonizes the national materiallaw systems in the area of insolvency, thus it can be identified significant differences at anational legislative level regarding the insolvency in relation to fundamental considerationsof politics, structure and content, in other words, there are not unique insolvencyproceedings, with applicability throughout the European union. Nevertheless we consider thata first step in the achievement of a legislative uniformity was already taken, at least regardingthe unity regulation of certain preventive proceedings which will allow the avoidance ofinsolvency of the debtor, mentioning in this respect Law No 381/2009 on the preventiveconcordat and the ad-hoc mandate, whose provisions are taken from the new code on thepreventive proceedings of insolvency and of insolvency, code which eases the directapplication of the Council Regulation (EC) No 1346/2000.

Author Biographies

Elise Nicoleta Vâlcu, Faculty of Law and Administrative Sciences, University of Piteşti
Correspondence: Elise-Nicoleta Vâlcu, University of Piteşti, Faculty of Law and Administrative Sciences
Lavinia Olah, Faculty of Law and Administrative Sciences, University of Piteşti
Correspondence: Lavinia Olah, University of Piteşti, Faculty of Law and Administrative Sciences
Published
2014-02-04
How to Cite
VÂLCU, Elise Nicoleta; OLAH, Lavinia. PREVENTIVE PROCEEDINGS IN THE VISION OF THE CODE ON PREVENTINVE PROCEEDINGS OF INSOLVENCY AND OF INSOLVENCY - A FIRST STEP FOR THE HARMONIZATION OF THE EU MEMBER STATE'S LEGISLATIONS IN THIS AREA. AGORA INTERNATIONAL JOURNAL OF JURIDICAL SCIENCES, [S.l.], v. 8, n. 1, p. 184-189, feb. 2014. ISSN 2067-7677. Available at: <http://univagora.ro/jour/index.php/aijjs/article/view/932>. Date accessed: 23 sep. 2020. doi: https://doi.org/10.15837/aijjs.v8i1.932.

Keywords

financial difficulty, preventive concordat, ad-hoc mandate, recovery plan, proceeding