The training was organised by ACI Partners, Wolf Theiss Prague and National Institute of Justice, within a project by the European Bank for Reconstruction and Development (EBRD) with financial assistance from Czech Government.
Recently, the Moldovan Parliament passed a new Law on Insolvency, which entered into force as of 14 March 2013. The training was geared towards ensuring common understanding of the newly adopted Law on Insolvency by the judges examining insolvency cases. The training was very well received by the participant judges, many of whom requested in their evaluation forms that another similar training is organised next year to discuss newly appeared issues and questions.
The project involved the following trainers:
Nicolae Clima, Judge at the Moldovan Supreme Court of Justice (CSJ), a respected authority on insolvency law matters in Moldovan judicial community.
Veronica Bradautanu, Master of Laws, qualified Attorney in New York, Partner – ACI Partners, independent consultant for the World Bank and the European Bank for Reconstruction and Development
Václav Hrabak, Master of Laws, member of the Czech Bar Association, Attorney at Law – Wolf Theiss law firm from Prague, and
The training was organised in two days sessions for different groups of judges and allowed participants to address the core issues, both from the Moldovan and the European law perspectives. The focus was on practical issues, rather than on theory giving the judges a perfect opportunity to bring up all uncertainties and discuss the most important provisions regarding the insolvency court proceedings. Trainers have also referred to substance law aspects that may be subject to legal disputes over which the courts must rule.
Among others, trainers have covered economic aspects of insolvency, principles and value of insolvency, applicability of the new law to cases started under the old law, disputes related to the claims of creditors, secured claims status, general insolvency procedure, bankruptcy, debt restructuring and termination of the insolvency proceedings, intertwining the said issues with relevant local and international case-law.
Judge Nicolae Clima mentioned that CSJ is currently working on an explanatory decision on the applicability of the new law on insolvency, which shall encompass the issues discussed during the training and most recent practice by the courts.
