Responsibilities of the Special Administrator in Insolvency Proceedings

Abstract:

The legal institution of the Special Administrator of a debtor being in insolvency is relatively new in the Romanian legal system, being regulated for the first time by Law 85/2006. It was defined as a representative appointed by the General Meeting of the debtor's Shareholders/Associates, a legal person empowered to carry out, on behalf of and on the account of the debtor, the acts of administration required during the proceedings when the debtor is not allowed to manage its activity and to represent their interests in the proceedings throughout the time when the debtor has been withdrawn from the right of administration. In practice, the problem of accurately determining its responsibilities has led to the existence of a non-uniform jurisprudence, particularly as concerns its capacity to pursue the proceedings. Subsequently, its responsibilities have been broadened and clarified through the new Law on the Proceedings for Insolvency Prevention and Insolvency No. 85/2014. The purpose of this study is to analyze the duties of this participant in the insolvency proceedings, both from the doctrine, and the jurisprudence point of view.