LIQUIDATION BY AND OUTSIDE THE LAW OF BANKRUPTCY AND OF INSOLVABILITY
The trading society is constituted so that it has to develop an activity whose duration is established within the constitutive documents. Sometimes, the duration is lengthened even after the associates’ decease, which formed the society. Since the antique duration, the problem of reaction towards a trader, whose inadequate activity affects the economic life, has appeared. In this way, the Roman law introduced the first regulations, which determined later the materialization of institution’s bankruptcy, respectively the gross sale of debtors’ goods in favor of creditors. The bankruptcy represents an absolutely normal market phenomenon, in our country it didn’t reached yet to be part of “game’s rule”; any investor wishes to know not only the manner of entering within a business, but also of going out of it, the business being carried out with a society which is at bankruptcy. The number of bankruptcy is an essential indicator on evaluating the functionality level of an economy. “The economists show that it is normally within a market economy with percent of 2-6% for all companies to suffer bankruptcy within a year”. For establishing a financial decision in case of bankruptcy, the financial service proceeds on determining the most of financial information. At the beginning, by the legislation research as concerns the companies, the bankruptcy law and other judicial provisions, the methodological information is established. Upon their basis, the information as regards the financial expenses and financial incomes are determined. The information as concerns the financial expenses refers to expenditure made in the view of process managing of bankruptcy and to eventual organizations and restructuring, being thus determined by the procedure of quotation. The payment obligations refer to amounts payment towards creditors and their proportion, the payment of wages for the staff and to the level foreseen by the law of bankruptcy, the payment of taxes remained towards the central and local budget. The information as concerns the financial incomes are determine by the market value of the asset sold by public auction by the bankruptcy process managing. The financial decision as concerns the bankruptcy makes part of the documentation that attaches the company’s bankruptcy, being the last financial distribution in the name of economic agent in discussion.
bankruptcy, state of failure, financial decision, creditor, judicial reorganization, insolvency and insolvability;
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