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Scope of the simplified procedure regulated by Law no. 151/2015 concerning the insolvency of natural persons in Romania

Author

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  • Ileana Voica

    (Department of Law, Bucharest University of Economic Studies, Romania)

Abstract

The paper deals strictly with one of the three procedures established by Law no. 151/2015 on the insolvency of natural persons, namely the simplified insolvency procedure, meaning its field of application. This field of application has been identified by correlating Article 3 (12) of the law defining insolvency, with Article 4, which refers to the general scope of Law 151/2015 and Article 65, which refers to the scope of the simplified insolvency procedure. The conclusion is that this regulation is useful for bona fide borrowers who are in difficult situations in their lives.

Suggested Citation

  • Ileana Voica, 2019. "Scope of the simplified procedure regulated by Law no. 151/2015 concerning the insolvency of natural persons in Romania," Juridical Tribune - Review of Comparative and International Law, Bucharest Academy of Economic Studies, vol. 9(1), pages 191-195, March.
    • Handle: RePEc:asr:journl:v:9:y:2019:i:1:p:191-195
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    More about this item

    Keywords

    insolvency; simplified procedure; obligations; debtor; good faith (bona fide); insolvency committee.;
    All these keywords.

    JEL classification:

    • K35 - Law and Economics - - Other Substantive Areas of Law - - - Personal Bankruptcy Law

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