Simona Petrin Gavrilă
Faculty of Legal, Political and Social, Department of Legal Sciences
“Dunărea de Jos” University, Galaţi, Romania
Insolvency is the state of the debtor’s patrimony characterized by insufficientmonetary funds available for the payment of exigible debts. It may be the consequence ofunfavourable economic circumstances, but also the result of managerial deficiencies of evenfraud.If insolvency is caused by the gross incompetence or the fraud of the debtor’s board ofdirectors, then the syndic judge, by means of the special mechanism created in the insolvencyproceedings, i.e. the joint responsibility action, may include the responsibility of the debtor’smanagers (if the debtor is a legal person) in covering the debtor’s liabilities. From apsychological point of view, such a menacing perspective may bring about a certain control ofthe managerial activity, a certain caution of a bonus pater familias in managing the debtor’saffairs1.
Insolvency, imposition of responsibility, managing board, Bill on Preinsolvency and Insolvency Proceedings