Insolvency proceedings governed by Law no. 85/2006. Impact of Law no. 55/2020

DREPT SOCIETAR ŞI INSOLVENŢĂ

Abstract

Indeed, Law no. 55/2020, regulating in the field of insolvency some measures to combat the effects of the COVID-19 pandemic, refers to the provisions of Law no. 85/2014, the regulatory act currently in force governing the conduct of insolvency proceedings. However, at the time of the outbreak of the pandemic some companies were in insolvency proceedings under the previous insolvency law, Law 85/2006, which continues to apply to proceedings opened under it. As the pandemic can affect these companies as well as those in insolvency under Law no. 85/2014, it follows that the measures aimed at combating these negative effects, regulated by Law no. 55/2020, also apply to companies in insolvency under Law 85/2006, and not only to those subject to Law no. 85/2014.