Changes in the organization of insolvency practitioners

The Official Gazette of Romania, Part I, no. 796 of 27 November 2012 has published Law no. 222/2012 amending and supplementing Government Emergency Ordinance no. 86/2006 regarding the organization of insolvency practitioners.

The regulatory law aims to amend and supplement the Government Emergency Ordinance no. 86/2006 regarding the organization of insolvency practitioners, changes targeting mainly forms of achievement insolvency practitioner profession, access to professional liability and disciplinary procedure.

The main changes:

It introduces regulations on insolvency practitioners meeting by other new qualities provided by law: conciliator and ad hoc agent.
The conciliator is defined as acompatible insolvency practitioner, authorized by law or established by the court, designated to perform duties prescribed in the arrangement procedure.
The dd hoc agent is compatiblewith the insolvency practitioner authorized under the law, appointed to exercise the powers provided by law or determined by the court, in the ad-hoc mandate.
The furfilment of these qualities is done through taking office and exercising specific powers under the law and the act of appointment or designation of the decision.

Associated practice cabinets are eliminated as an organization formof the profession.

Introducing the entry of the provision stipulating that that insolvency practitioners are legally qualified to benefit from specialized experience.

It specifies that insolvency practitioner may not perform incompatible duties prescribed by law in their jurisdiction and can not be elected governing bodies UNPIR and its subsidiaries, during the existence of the state of incompatibility.

It extends the length of service of persons exempted from training in that it will be exempt from training people who have worked for 10 years or economical legal profession. To date, exempted only applied to those who have worked for 10 years as a lawyer, judge and notary public.
When calculating the period of 10 years we will take into account the time when people were deputies or senators, committees specialized in legal or economic, not to exceed half the length of 10 years.
The legal document also mentions that those who have passed the examination for admission to the profession and who had an employee on an economic or legal function in an individual office in a SPRL times a IPURL the least 3 years are exempt from training.

It introduces regulations on the establishment of the National Institute of Insolvency Practitioners Training.
Thus, the Congress may decide to set up UNPIR National Institute for Training of Insolvency Practitioners (INPP) alegal person , a nonprofit organization that is not part of the national education system and functions under the authority of the Permanent Representatives UNPIR Assembly.
INPP revenues will be generated from resources of the UNPIR budget, donations, sponsorships, etc. didactic income.
INPP has the following duties:
– Organizes initial training and further training of insolvency practitioners;
– Develops curricula of junior insolvency practitioners;
– Organizes examination completed in accordance with the rules of organization and approved by the national leadership of UNPIR.

A new section enters the law, Section 4, including rules on jurisdictional organs of UNPIR discipline.
This removes the Higher Committee and local committees discipline, their powers being exercised by the superior court and local courts disciplinary discipline.

Along with the leading national Council will work the superior court of discipline. It will be composed of 9 members – Chairman and 8 members – and three alternate members, designated by Congress UNPIR for a period of 4 years between insolvency practitioners compatible and which enjoys great professional and moral authority.

In the localities where they operate, the courts of appeal are established as disciplinary UNPIR local courts.

>> The source:


Related posts

LinkedIn | Facebook