Principle for Effective Insolvence
Insolvency proceedings are complex because they combine 3 components: economic, judicial and social. Consequently, the conduct of these proceedings requires the participation of implementing authorities with a view to achieving the aim laid down by the law, i.e. to cover the debtor's liabilitie...
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| Format: | Article |
| Language: | English |
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Transilvania University of Brasov Publishing House
2024-12-01
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| Series: | Bulletin of the Transilvania University of Braşov: Series VII: Social Sciences, Law |
| Subjects: | |
| Online Access: | https://webbut.unitbv.ro/index.php/Series_VII/article/view/8842/6217 |
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| Summary: | Insolvency proceedings are complex because they combine 3 components: economic, judicial and social. Consequently, the conduct of these proceedings requires the participation of implementing authorities with a view to achieving the aim laid down by the law, i.e. to cover the debtor's liabilities and to satisfy the creditors as far as possible. Consistency, professionalism and professional ethics of the authorities enforcing this proceeding, together with the good faith of the debtor and the creditors, ensure the principle for effective insolvency. |
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| ISSN: | 2066-7701 2971-9410 |