The Judicial Reorganization Procedure: The Moment of a Paradigm Shift

Abstract

This work, with its focus on the place and the function of the judicial reorganization within the insolvency procedure and the perspectives of this procedure, is published in a period of turmoil and economic transformation, but also during a period of legal settlements and crystallization, which calls for analysis and doctrinal clarification. In the general context of insolvency, the judicial reorganization began to gain a place at the forefront, but the process has not yet been completed, leaving room and premises for future developments. The very evolution of Romanian society in general and of the business environment in particular require further development of the institution of judicial reorganization and the redefinition of the status thereof, for the purposes of imposing it as the mandatory procedure or rule in all insolvency procedures. In this context, I feel that the time has come for the judicial reorganization procedure, part and essential step of the insolvency procedure, to make a qualitative leap in its natural evolution. In other words, it is time for a true paradigm shift in the judicial reorganization.