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INSOLVENȚA TRANSFRONTALIERĂ ȘI REFLECTAREA EI LA NIVEL DE LEGISLAȚIE
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Journal Article
INSOLVENȚA TRANSFRONTALIERĂ ȘI REFLECTAREA EI LA NIVEL DE LEGISLAȚIE
2025
Overview
The purpose of this article is a non-exhaustive examination of the regulation of cross-border insolvency, as regards the model law of UNCITRAL, transposed internally by the provisions of Law No 85/2014 (Title III, Chapter II), and European Regulation 848/2015, currently in force. After individualising the scope of each of the two pieces of legislation, the analysis focuses on regulation at EU level, as the EU regulation applies directly at national level without further transposition rules. We focus on how to determine international jurisdiction, in relation to the concept of the centre of the debtor's interests' (COMI), which will be examined in the light of the provisions of Regulation (EU) No 848/2015 and the case law of the CJEU. The analysis will continue with the presentation of the relationship between the main and secondary insolvency proceedings, from the point of view of the effects of each of them. Consideration will also be given to the combination of the abovementioned regulation with other acts of European law and legislative developments, given concrete expression by the adoption of Directive (EU) 2019/1023 on restructuring and insolvency and a proposal for a directive on the harmonisation of certain aspects of insolvency law rules of December 2022, which will be briefly presented.
Publisher
Union of Jurists of Romania
Subject
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