Brief Considerations on the Financial Crisis and Insolvency of the Administrative-Territorial Units in the View of the New Regulations

Abstract

The reason for which the Government Emergency Ordinance No 46/2013 regardingthe financial crisis and insolvency of administrative-territorial units is the fulfillment of theobligations assumed by Romania in order to reduce the overdue registered by theadministrative-territorial units to their suppliers of goods, services and works. The articleaims to analyze the general framework and the procedures regarding the coverage of theliability and the financial recovery of the administrative-territorial units which are in afinancial crisis or in insolvency, relating to the general framework for insolvency, namelyLaw No 85/2006, as well as the Law No 273/2006 regarding local public finances updatedand amended by Law No 13/2011.