The purpose of this Uniform act is to:
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To organize pre-insolvency procedures of conciliation, preventive settlement and
rehabilitative proceedings of reorganization and assets liquidation so as to preserve the
economic activities and employment of debtor companies, quickly rehabilitate healthy
companies and liquidate distressed ones in such a way that the debtors’ assets will be
maximized for the purpose of increasing receivables to be recovered by creditors and
establish a specific order of payment to secured or unsecured collateral securities;
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To define rules applicable to judicial administrators;
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To set proprietary and professional sanctions as well as criminal proceedings related to
the default of the debtor, applicable to the debtor company top executives and individuals
involved in the proceedings management.
Unofficial translation
Spot-checked
In force from 10 September 2015
Source page 5