Recovery of the prejudice caused by an insolvent company

A recent decision of the Romanian High Court of Justice dated 6 March 2019 offers the possibility to analyse the recovery of the prejudice caused to a creditor by a company under court proceedings after on its insolvency. The applicable regulations (i.e. Law no. 85/2015) represent the legal framework, which aims at debt payment by the insolvent debtor to his creditors. Therefore, the procedure is collective and all the known creditors are involved. Consequently, the law regulates the means and the conditions of this procedure. The prejudice caused to a creditor by the insolvent company shall be recovered following the rules of the special law and not through the general applicable rules, i.e. the Civil Code. The article aims to identify the relevant theoretical aspects and their applicability in practice by the courts of law.