Insolvency of the Romanian Administrative - Territorial Units. Novelty and Challenge for the Public Administration

This study analyzes the introduction impact, for the first time in the Romanian legislation, of the possibility of entry into a state of financial crisis and even financial insolvency/bankruptcy, with all the social and economic implications, of the Romanian administrative - territorial units (communes, cities, municipalities, counties).The scientific approach starts with a direct manifest on the accountability of decision makers involved in the local and central administration (both those in the legislative and the executive area), continues with brief technical considerations on the administrative-territorial units (beneficiaries of the new legislation regarding insolvency), and finally, analyzes the rationale of adopting the Regulations before treating its weaknesses, to conclude that “.The insolvency proceedings for debt recovery under the tutelage of the normative imposed by the Government Emergency Ordinance no. 46/2013 by respecting a financial recovery plan are difficult, costly, lengthy and unpredictable, which can be considered at one point, inefficient.”.