LINKS BETWEEN INSOLVENCY AND STATE-OWNED COMPANIES IN ROMANIA: AN ENVIRONMENTAL PERSPECTIVE

Insolvency has affected a high number of companies in Romania, especially after the '90 when the national insolvency law has aligned to the EU common framework. Among other reasons which contributed to the insolvency of these companies were the big taxes on pollution. In this article we identify the links between insolvency and law environment in Romania focusing on companies which entered the insolvency because of such taxes. Using a descriptive approach we found out that most of the companies affected by the changes in the environment law were those owned by the Romanian state which are a high factor of pollution particularly in the big cities. The results of our study show that a more ecological approach of the insolvent companies could lead to their reorganization and profitability in the following years.