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Articles

An educated man is the one who never finish learning. - Lucian Blaga
Insolvency procedure

Insolvency procedure – annulment of fraudulent acts concluded by the debtor prior to the opening of proceedings Just as important as holding the administrator or those responsible for initiating the insolvency proceedings accountable is the institution of annulling fraudulent acts concluded by the debtor before the opening of insolvency proceedings, acts that aim to defraud...

Penalty clause – What it Iis and who benefits

The penalty clause is the mechanism available to the creditor of an obligation under Article 1538 of the Civil Code: “1,538. – (1) The penalty clause is one by which the parties stipulate that the debtor undertakes a certain performance in the event of non-performance of the principal obligation. (2) In case of non-performance, the...

Attraction of responsibility for insolvency

One of the most important institutions in the insolvency procedure, often used unjustifiably by creditors dissatisfied with the fact that the sums entered in the definitive table of claims have not been recovered, is that of attracting the patrimonial responsibility of the persons responsible for the debtor’s insolvency, usually the administrator. Thus, at the request...