AMENDMENT OF INSOLVENCY LEGISLATION IN THE CONTEXT OF THE SARS-COV-2 PANDEMIC AND ITS IMPLICATIONS
Abstract
The health crisis generated by the COVID-19 pandemic that broke out in early 2020 in most economies of the world has forced measures to be taken that have had the effect of closing economic activities to varying degrees. In order to counteract the negative economic effects determined by the measures to limit the spread of COVID-19, it was necessary to amend some legal provisions in order to support companies facing financial difficulties (lack of liquidity, increase in debts, etc.), as well as those in proceedings. of pre-insolvency / insolvency.
In this paper we aim to identify and analyze the legislative changes that the Romanian authorities have operated in the field of insolvency while highlighting their implications on economic activity. Our scientific approach begins with defining and specifying the scope of insolvency as well as identifying legal provisions with an impact on insolvency. The center of gravity of the study is the presentation of the new regulations in the insolvency procedure. We note that some of these have limited applicability only during the alert state and others maintain their applicability even after the cessation of these circumstances.
Keywords
References
Cărpenaru, Şt., D., (2016), Tratat de drept comercial român, 5th edition, Universul Juridic Publishing House, Bucharest
Nemeş, V., (2018), Drept comercial, Hamangiu Publishing House, Bucharest
Atanasiu, A., Lepadatu, D., (2020), (Re)ajustarea legii insolvenței, Dosare Juridice-Opinia specialiștilor PeliPartners, https://www.hotnews.ro/stiri-specialisti_pelipartners-24171753-ajustarea-legii-insolventei.htm, accesed on 10th of february 2021
Romanian Parliament, (2014), Law no. 85/2014 on insolvency prevention and insolvency procedures, published in the Official Monitor, no. 466 from 25.06.2014
Romanian Parliament, (2020), Law no. 55/2020 on some measures to prevent and combat the effects of the COVID-19 pandemic published in the Official Monitor, no. 396 from 15.05.2020
Romanian Parliament, (2020), Law no. 113 from 8th of July 2020 on the approval of the Government Emergency Ordinance no. 88/2018 for amending and supplementing some normative acts in the field of insolvency and other normative acts published in M. Of. no. 600 from 8th of July 2020
Government of Romania, (2002), O.G. no. 57/2002 on scientific research and technological development approved with amendments and completions by Law no. 324/2003
Government of Romania, (2018), GEO no. 88/2018 from 27th of September 2018 for amending and supplementing some normative acts in the field of insolvency and other normative acts published in M. Of. no. 840 from 2nd of October 2018
https://www.onrc.ro/index.php/ro/statistici?id=252
![Creative Commons License](http://i.creativecommons.org/l/by/3.0/80x15.png)
This work is licensed under a Creative Commons Attribution 3.0 License.