The Liability of the Judicial Liquidator

Abstract

In our article, we analyze the liability of the judicial liquidator, based on a real court case. The interest of such a study resides in the material implications of the engagement of patrimonial liability and in the rarity of the judicial requests for engaging this liability. We underline a recent terminological change in the insolvency legislation. Thus, according to Law no. 85 of 2006 on the insolvency proceedings2 (further referred as ―old Insolvency Law‖), the insolvency practitioner managing the bankruptcy procedure was called ―the liquidator, while the one managing the observation period was called ―the judicial administrator‖, thus being distinguished from the ―special administrator‖ who is the representative of the associates/shareholders and of the debtor.