Confirmation/designation of the judicial administrator/final judicial liquidator. Action to cancel the decision creditors' meeting

DREPT COMERCIAL

Abstract

According to art. 19 paragraph 2 of Law no. 85/2006 „at the recommendation of the creditors 'committee, at the first meeting of the creditors' meeting or later, creditors who hold at least 50% of the total value of the debts may decide to appoint a judicial administrator/liquidator, establishing their remuneration. In case the remuneration will be paid from the fund established according to the provisions of art. 4, this will be established by the syndic judge, based on the criteria established by the law on the profession of insolvency practitioner. The creditors may decide to confirm the judicial administrator or the liquidator provisionally appointed by the syndic judge „and according to art. 57 paragraph 2 of the Law no. 85/2014 "during the first meeting of the creditors' meeting, creditors who hold more than 50% of the total value of the receivables with voting rights may decide to appoint a judicial administrator, establishing the fee. In case the fee will be paid from the fund established according to the provisions of art. 39 paragraph (4), it will be established on the basis of the criteria stipulated in the Government Emergency Ordinance no. 86/2006, republished, with the subsequent modifications and completions. The creditors may decide to confirm the judicial administrator or the provisionally appointed judicial liquidator, setting the fee. In the latter situation, it will no longer be necessary to confirm the syndic judge. The first meeting of the creditors' meeting will have on the agenda both the confirmation/designation of the judicial administrator / judicial liquidator, as well as the establishment of its fee”. In the current regulation, the legislator has stipulated the obligation to introduce on the agenda of the first meeting of the meeting of creditors a point regarding the confirmation / designation of the judicial administrator / judicial liquidator and the establishment of his fee in order to remove the possibility that, by not introducing on the agenda / for the appointment of the insolvency practitioner, the provisorate of the one designated by the decision to open the procedure shall remain forbidden for a long time. Failure to exercise this right of creditor in the first meeting is sanctioned with the decedent, and the provisionally appointed judicial administrator will administer the definitive procedure.