Practical Aspects Regarding the Dissolution of a Company by Declaring the Company Null and Void

Law no. 31/1990 on companies, in its initial form, developed a more traditional approach of the consequences of the non-compliance with the legal requirements for the establishment of a company. Though, in the mentioned version, the interest of protecting third parties prevailed, with the exclusion of the drastic sanction of nullity. However, the legislator, in time, reached the conclusion that a more modern approached needed to be taken into consideration, which should reach a balance between the need to protect the interests of third parties and the imperative to comply with the law with reference to the conditions that must be met to establish a company. Even so, in this current form of the regulation, a concern still remains, respectively that of trying to save the company, to bring it to fulfill the conditions of legality and, through this, to protect third parties also. But in some cases it is necessary for the company to cease to exist by declaring its nullity. Therefore, the current study aims in presenting and analyzing, from a more practical point of view, the occurrence of the nullity of a company and the consequences of such a measure both for the company itself and also for its partners.