Abstract
In Romania, the main law governing insolvency proceedings is Law no. 85/2014 on Insolvency Prevention and Insolvency Proceedings, comprising provisions regarding the prevention procedures and the legal framework for reorganisation and bankruptcy. The opening of insolvency proceedings triggers the application of a specific set of rules, the effects of which extend to almost all the institutions of general law that affect the status and functioning of the debtor in its day-to-day business. This change of status inevitably has an impact of existing contracts, which are the main instruments by which the debtor undertakes its economic activity. Using the example of the Romanian Hidroelectrica S.A. case, this article analyses the difficulties in the Romanian legal framework in relation to the termination of contracts in cases of insolvency.
Published Version
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