Abstract. The achievment of the balance between the offer and the demand in a market economy makes that some merchants win and others lose. Losing in business is a normal risk, usually assumed by any merchant. But when the merchant record losses, the issue is of engaging his responsibility before all those that may be damaged due to his negative results. Faced to this reality, the commercial legislation, by way of the collective procedure, has tried to found the most adequate means to reduce up to the maximum the negative influences that the losses beared by a merchant may have on his creditors. According to this, from the new law of the collective procedure (Law no. 85/2006) there have been analized those cases of closing the procedure and their effects which raised already problems in practice and aroused interesting doctrinal controversies.

Keywords: insufficiency assets; judicial reorganization; bankruptcy; procedural costs; liquidation fund; retraction of the debtor.