Record Details

PERSONAL BANKRUPTCY AND THE ROMANIAN REALITIES

Studies and Scientific Researches: Economics Edition

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Field Value
 
Title PERSONAL BANKRUPTCY AND THE ROMANIAN REALITIES
 
Creator Condrache, Mihaela
Niminet, Liviana Andreea
 
Subject personal bankruptcy; insolvency; legal entities; debtor; creditor
G33; K35
 
Description Bankruptcy is defined as the legal situation in which an individual, a company or an institution cannot meet outstanding liabilities, which are superior in value compared to available assets. Personal bankruptcy refers to the situation described above in the case of individuals. This highly important legal and economic institution was long ago settled in the United States of America, United Kingdom, France, Germany, Japan, and recently in former communist countries such as Poland, Latvia, Estonia, and Lithuania, existing throughout the EU, except for Romania, Bulgaria and Hungary. In December 2015, in Romania, the Personal Bankruptcy Law is to come into force and this article focuses on the main aspects of the three steps procedure comprised in it as well as on the advantages and disadvantages from all involved parts perspective, that is: individual debtors, Banks as creditors and state institutions as third parties highlighting the main changes that are to happen both for individuals as well as for the society as a whole.
 
Publisher Vasile Alecsandri University of Bacau
 
Contributor —
 
Date 2015-12-29
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Format application/pdf
 
Identifier http://sceco.ub.ro/index.php/SCECO/article/view/327
10.29358/sceco.v0i22.327
 
Source STUDIES AND SCIENTIFIC RESEARCHES. ECONOMICS EDITION; No 22 (2015)
STUDII SI CERCETARI STIINTIFICE. SERIA STIINTE ECONOMICE; No 22 (2015)
2344-1321
2066-561X
 
Language eng
 
Relation http://sceco.ub.ro/index.php/SCECO/article/view/327/305