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An educated man is the one who never finish learning. - Lucian Blaga
The obligation to submit the application for the initiation of insolvency proceedings by the debtor in a state of insolvency.

Insolvency is the condition of a debtor’s assets characterized by insufficient available monetary funds for the payment of certain, liquid, and due debts. This condition is presumed when the debtor has not paid their debt to the creditor within 60 days from the due date (the presumption is relative), or when it is proven that...