Concurrence between the debtor's claim and the creditor's request for the appointment of a specific insolvency practitioner as insolvency judicial receiver/liquidator

DREPTUL AFACERILOR/ASPECTE DE DREPT PROCESUAL

Abstract

If, prior to the decision to open the insolvency proceedings, there are requests for the appointment of the judicial receiver/liquidator, both from the debtor and from one of its creditors, it follows from the literal interpretation of the law, as well as from its teleological and systematic interpretation, that the syndic judge will give precedence to the creditor's request, appointing as provisional judicial receiver/liquidator the insolvency practitioner requested by the creditor.

The legislative solution is explained by the fact that the Insolvency Act subordinates the interests of the debtor to the interests of its creditors, since the effects of the debtor's insolvency – based on its business decisions – are directly reflected in the creditors' assets.