News and Events
Webinar Event: Harmonization of the European legislative framework on preventive restructuring - a dissemination of research results from the JCOERE project
The project team at University Titu Maiorescu hosted an online videoconference last week, disseminating information on the JCOERE project research findings.
Titu Maiorescu University organised on December 11, 2020 at 10 AM a video conference (webinar event) entitled “Harmonization of the European legislative framework on preventive restructuring – a dissemination of research results from the JCOERE project (Judicial Co-Operation supporting Economic Recovery in Europe)”. The event was conducted in Romanian.
The following team members particpated in the event:
- Professor Smaranda Angheni, scientific coordinator of the Project from Titu Maiorescu University
- Judge Nicoleta Mirela Năstasie
- Dr Cristian Draghici
Professor Smaranda Angheni, the leader of the JCOERE team at UTM, commenced the event by giving a general description of the Project and the objectives pursued.
Dr Cristian Drăghici presented the Romanian Country Report, an element of the project research from Report 1. Dr Drăghici made some observations and perspectives on Romanian restructuring framework, reformed in 2014. He discussed the preventive concordat and the ways in which it reflects many of the elements of the Preventive Restructuring Directive 2019/1023, and changes which should be made to comply with other elements of the Directive.
Judge Nicoleta Mirela Năstasie continued the event, giving a short exposition of the second Report on Judicial Co-operation in Preventive Restructuring and Insolvency in the EU. This presentation provided insightful commentary on the main research outcomes of Report 2, namely: substantive and procedural harmonisation, judicial practice and guidelines, obstacles to the cooperation of private courts for preventive restructuring, differences in judicial culture in EU Member States and some reflections, conclusions and recommendations of the JCOERE project.
The videoconference demonstrated a significant aspect of the JCOERE Project: a successful interprofessional collaboration at European level in a complex research activity.
In Romania, it is anticipated that the work of the JCOERE project will contribute towards the development of a favourable culture in the field of restructuring and cross-border cooperation. It is hoped that this culture will progress in the future and that judges, insolvency practitioners and specialists in the field of preventive restructuring and turnaround management continue learn from each other and share experiences, demonstrating flexibility and creativity for achieving an environment of confidence and professionalism for large companies and small entrepreneurs alike, operating in Romania and worldwide.
The videoconference was an important event in increasing knowledge for members of the judiciary and insolvency practitioners regarding statutory frameworks and jurisprudence concerning cross-border restructuring. It was an excellent opportunity for practical exchange of information and cooperation.
The event was also significant in proactively engaging with the Romanian judiciary on awareness and utilisation of best practise in current activity, participation in international training programs, research projects, interactive seminars and conferences, including the Judicial Colloquium organised by INSOL International and World Bank, or Judicial Wing organised by INSOL Europe.
The JCOERE Project would like to extend a sincere thanks to the Faculty of Law at UTM for organising a fascinating and highly informative project event.