By :Jun 10, 2022Comments Off on Legal Updates 10 Jun 2022
1.The Romanian Decision no. 28/2022 regarding the examination of the notification filed by the Cluj Court of Appeal – Second Civil Section in the File no. 337/112/2018 / a7, in order to issue a preliminary decision ruled by The Romanian High Court of Cassation and Justice
The provisions of the art. 45 para. (1) lit. k) and o) of the Romanian Law no. 85/2014 on insolvency prevention and insolvency proceedings in Romania, must be interpreted in the sense that the Romanian syndic judge can confirm a reorganization plan only insofar as there is a decision of approval made by the meeting of creditors of the reorganization plan.
The provisions of the art. 138 para. (4) and art. 139 para. (1) of the Romanian Law no. 85/2014 of insolvency proceedings in Romania must be interpreted as meaning that the impossibility of adopting a decision in the creditors’ meeting convened for the approval of the reorganization plan, due to the lack of a quorum caused by the absence of legally summoned creditors who were summoned to at least two meetings with the same agenda, is not equivalent to a negative vote on the reorganization plan.
In the event that a decision could not be adopted, under the conditions of the art. 138 of the Romanian Law no. 85/2014 of insolvency proceedings in Romania, regarding the approval of the plan or one of the proposed plans, due to the lack of quorum caused by the absence of the legally summoned creditors who were summoned to at least two meetings having the same agenda, the Romanian syndic judge is not entitled to replace the approval of the reorganization plan, and the lack of active role in the procedure of the creditors registered on the final table of claims does not equate to the negative vote, but constitutes one of the cases in which the Romanian syndic judge will decide the entry into bankruptcy.
2.The Romanian Emergency Ordinance no. 71/2022 for the amendment of the art. 155 para. (1) of the Romanian Law no. 286/2009 on the Romanian Criminal Code
At article 155 of the Romanian Law no. 286/2009 on the Romanian Criminal Code, the paragraph 1 is amended and it will have the following content: The course of the statute of limitation of the criminal liability is interrupted by the fulfillment of any procedural act which, according to the law, that must be communicated to the suspect or defendant.