ISSN: 2222-6990
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Insolvency law creates a privileged position of the creditor, which is provided with a lever to
manipulate the property while the debtor can deprive shareholders of the wording of any
application or appeal, and thus violating the management of property rights, arising from the
right ownership’ on the social shares. The lack of Romanian legislation gives no possibility of the
shareholder to protect his property rights in case the company loses its legal personality while it
still has assets with a non-concluded legal regime until the bankruptcy procedure is closed.
Therefore, as the same problem appears in case a company which acts as a shareholder in
another legal entity lose its legal personality, it has to give effectiveness to the related civil
norms of inheritance, other than the remaining assets will remain without owner.
C?rpenaru St., David S., Predoiu C., Piperea Gh. (2009), Company Law. Comment on articles,
Bucharest, C. H. Beck
C?rpenaru, St. (2011), Commercial Law Treaty, Bucharest, Universul Juridic,
Costa? Cosmin Flavius (2009), The right to a fair trial in insolvency proceedings covered by the
Insolvency Law no. 85/2006, 10, Romanian Journal of Business Law, 13-26
Sasu H. (2009), Discussions on the possibility and modalities for the contributions of intellectual
property rights/industrial capital of a company, 1, Romanian Journal of Business Law, 66-74
* Companies Act, 2006, U.K., www.legislation.gov.uk
* Law no. 31/1990 of the trading companies, republished in the Official Monitor of Romania,
no. 1066, November, 11, 2004
* Law no. 8/1996 of copyright and neighboring rights, published in the Official Monitor of
Romania, no. 60, June, 24, 1996
* Law no. 85/2006 of insolvency, published in the Official Monitor of Romania, no. 359, July, 20,
2006
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