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Peculiarities of Romanian Insolvency System

Author

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  • Baciu Elena Cristina

    (“Alexandru Ioan Cuza” University of Iaºi)

Abstract

For a company that has financial difficulties it is best to enter an insolvency procedure. This process offers the possibility to asses the viability of the company and to find the proper solution for its situation. This study examines the peculiarities of the insolvency procedure. The stages of this process present a high significance for all stakeholders, giving the fact that they are all involved in it and the effectiveness of the procedure affects the its final relation with the insolvent company. An entity that enters an insolvency procedure can be either reorganized either liquidated. Each of these solutions has its effect on the company, on its partners an on the economy in general.

Suggested Citation

  • Baciu Elena Cristina, 2012. "Peculiarities of Romanian Insolvency System," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1261-1266, May.
  • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:12:p:1261-1266
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    More about this item

    Keywords

    insolvency law; bankruptcy;

    JEL classification:

    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • K41 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Litigation Process

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