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Constitutional Court Decision on Insolvency Law

Stefan-Lucian Deleanu

Constitutional Court Decision on Insolvency Law

Curtea Constituțională a României a examinat obiecția de neconstituționalitate ridicată împotriva Ordonanței de Urgență a Guvernului nr. 88/2018, care a modificat și completat Legea nr. 85/2014 privind procedurile de prevenire a insolvenței și de insolvență. Curtea a considerat că ordonanța de urgență este justificată, dată fiind situația extraordinară a celor peste 6.000 de companii aflate în proceduri de insolvență și nevoia urgentă de a crea premise legislative și administrative pentru redresarea și menținerea acestora în circuitul economic.

The Court also concluded that the provisions in question did not violate the principle of equality before the law, as they provide an additional chance for the recovery of the company and do not affect the property rights of the original creditors. In essence, the Court ruled that the government can legislate through emergency ordinances in the matter of insolvency, even if there are already laws in place, as long as they have positive consequences in the fields in which they intervene.

State Aid Scheme for the Aquaculture Sector

The Romanian government has adopted a decision to establish a state aid scheme for small and medium-sized enterprises (SMEs) operating in the fishing and aquaculture sector. The scheme aims to reduce the excise duty on diesel fuel used in aquaculture, granted in the form of reimbursement. This decision is in accordance with the provisions of the European Commission's Regulation and will be applicable until December 31, 2025.

To access the state aid scheme, beneficiaries must meet certain eligibility criteria, including being registered in the Register of aquaculture units and providing statistical data to the National Agency for Fisheries and Aquaculture (ANPA) regarding the surfaces and the productions carried out. The state aid provided by this decision cannot be cumulated with any other type of de minimis aid, ensuring fair competition within the sector.

2023 Budget Approval for ROȘIAMIN — S.A. Company

The Romanian government has authorized the revenue and expenditure budget for the year 2023 for the company ROȘIAMIN — S.A., a subsidiary of C.N.C.A.F. MINVEST — a company based in Deva. This move underscores the government's dedication to bolstering local enterprises and preserving Romania's economic stability.

The approval of the budget ensures that the company can continue its operations, providing employment opportunities and contributing to the country's economic growth. It also demonstrates the government's willingness to invest in various sectors and support businesses in achieving their goals.

Conclusion

In conclusion, the decision of the Romanian Constitutional Court regarding insolvency law emphasizes the significance of offering clear, precise, and accessible legal provisions that safeguard property rights and provide legal certainty for individuals and legal relationships. The state aid program for the aquaculture industry and the approval of the 2023 budget for ROȘIAMIN — S.A. showcase the government's dedication to bolstering local businesses and fostering the nation's economic development.

Understanding these developments and their implications can help businesses and individuals navigate the ever-evolving landscape of insolvency law in Romania. It is essential to stay informed about the legal changes that may impact your life and to engage in discussions that promote understanding and awareness.

What are your thoughts on the recent developments in Romania's insolvency laws? Do you think these changes will positively impact the country's economy and business environment? Share your opinions and experiences in the comments below.