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The Insolvency Law Changed by the New Criminal Code and Criminal Procedure

By means of article 175 of Law no.187/2012 for applying the Law no. 286/2009 regarding the Criminal Code, published in The Official Gazette no. 757 on the 12.11.2012, Ist part, and entered into force on the 1.02.2014, there are several changes brought to Law no.85/2006 considering the insolvency procedure: The suspensive effect of commencing the procedure becomes unplayable in case […]

The Romanian Constitutional Court rejects the new insolvency law

On October 25th, 2013, the Government Emergency Ordinance no. 91/2013 regarding procedures for preventative insolvency procedures and insolvency came into force.  The Ordinance was published in the Official Gazette no. 620, dated October 4th, 2013. This normative act expressly abolished Law no. 85/2006 regarding the insolvency procedure, Law no. 381/2009 regarding introduction of preventive concordat and ad-hoc mandate, Governmental Ordinance no.10/2004 […]