Assuming that insolvency is an economic reality that cannot be ignored especially in the current context, and the concerns in the regulation of a flexible and efficient procedures are numerous both nationally and in the European Union, we have structured the work in two parts, respectively the first part, in which are presented the theoretical aspects of the implementation of the insolvency, more precisely the reorganization and bankruptcy proceedings and the second part, where we made a brief analysis of insolvent companies between 2010-2012. The paper ends with a brief presentation of the insolvency process in Eastern and Central European countries compared to Romania.