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

Abstract

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