222 IOAN SCHIAU
reorganization plan attain legal force as results of their sanction through a court
judgment, delivered in the conditions provided by the law7.
As mentioned in the legal doctrine, this effect is not a result of the approval of
the plan by the assembly or meeting of the creditors, but a direct consequence of
the confirmation given by the syndic-judge to the plan. As long as the syndic-judge
does not proceed to the analysis of the compliance of the plan and of the voting by
the creditors with the mandatory requirements of the law, validating the whole
procedure by his/her judgment, the vote of the various creditors’ categories does
not have the power to generate the reorganization, even if the plan is approved by
Another legal scholar mentioned that, as a result of its confirmation through a
definitive judgment, the reorganization plan becomes mandatory for the debtor
and all his/her creditors whose claims are born before the opening of the
insolvency procedure, even if part of the creditors have voted against the plan.9
On the other hand, as a legal scholar, I have mentioned10 that the judgment
confirming the plan is similar to the court decision validating the agreement of the
parties to end or to settle a court or out of court dispute, as provided for by Article
438 RCPC. But, unlike the later judgment, which is incorporating the parties’
settlement the Confirmatory Judgment does not incorporate the reorganization
plan, which is still attached to the confirmation judgment, although not necessarily
in its substance.
Although, when confirming the reorganization plan, the syndic-judge is not
analysing its intrinsic merits but, merely, the meeting of all the conditions required
by the law in order to reach that stage of the procedure, he is entitled to take the
opinion of an insolvency specialist regarding the feasibility of the plan and,
consequently, to reject the confirmation of the plan if the specialist’s opinion is
In this regard, the Romanian courts have determined that the syndic judge
may refuse to confirm the plan only when the plan is missing, obviously,
mandatary mentions provided by the law or when the present mentions lack,
7 According to the same Article 140 (1) of the Insolvency Law, in case of the opening of the
bankruptcy procedure (i.e. the liquidation of the assets of the debtor) the receivables of the creditors
will be established through the definitive table of receivables, approved by the syndic judge after
deciding upon all the appeals filed by the creditors and after deducting the amounts already received
by the creditors through the reorganization period.
8 V. Moga-Shaban, Short considerations regarding the possi bility to amend (complete) the reorganization
plan before the phase of the confirmation to be given by the syndic-judge, 22.07.2017, available at
9 See N. ndreanu, The Judiciary Reorganization Procedure (Procedura reorganizrii judicare), All
Beck Publishing House, 2000, p. 215.
10 See I. Schiau, The Legal Regime of the Commercial Insolvency (Regimul juridic al insolvenei
comerciale), All Beck Publishing House, 2001, pp. 212-213.