PRINCIPIILE PROCEDURII INSOLVENȚEI, PRECUM ȘI DREPTURILE ȘI OBLIGAȚIILE PARTICIPANȚILOR, ÎN REGLEMENTAREA LEGII NR. 85/2014 PRIVIND PROCEDURILE DE PREVENIRE A INSOLVENȚEI ȘI DE INSOLVENȚĂ

Law No 85/2006 on the procedure of insolvency was initially repealed and replaced by the Government Emergency Ordinance No 91/2013 on the procedures for preventing insolvency and of insolvency, which was in force only a few days, being declared unconstitutional, in its entirety, by the Constitutional Court of Romania. For this reason, it was necessary to adopt a new law on this matter (No 85/2014) which entered into force at the end of June 2014. In this study, the authors examine more extensively the principles of the procedure of insolvency, as well as the rights and the obligations of the participants, as currently regulated by Law No 85/2014, in comparison, when appropriate, with the previous law (Law No 85/2006).