Academic literature on the topic 'Insolvency of the company'

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Journal articles on the topic "Insolvency of the company"

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Yukhumenko, V. "INSOLVENCY OF INSURANCE COMPANIES IN UKRAINE: DETECTION AND PROGNOSTICATION." Innovative Solution in Modern Science 5, no. 41 (November 3, 2020): 73. http://dx.doi.org/10.26886/2414-634x.5(41)2020.6.

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The paper demonstrates the results of research on the problems of insurance company insolvency. The outcomes describe the basic principles of detection and using the early warning system in Ukraine. The paper shows the necessity to reorganize the basic principles of the detection of local insolvent insurers. The study also determines the groups of persons who are directly or indirectly interested in the insurer's solvency assessment. This work presents the system of insurance companies' insolvency indicators, which help to identify insolvency at the early stages. The paper distinguishes precautionary, delayed, internal, and external insolvency indicators of insurers. The study divides the values of insurer's insolvency indicators into "yellow" and "red" zones to increase the flexibility of using various instruments for influencing by the regulator depending on the level of danger of the insurance company. This work argues for taking timely measures to the threat of insolvency of the insurance companies by the insurance supervisor.Key words: insolvency, instability of the insurers, solvency, early warning system, insurance market.
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Rajak, Harry H. "Director and Officer Liability in the Zone of Insolvency; A Comparative Analysis." Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad 11, no. 1 (June 26, 2017): 30. http://dx.doi.org/10.17159/1727-3781/2008/v11i1a2751.

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It is the duty of the directors of a company to run the business of the company in the best interests of the company and its shareholders. In principle, the company, alone, is responsible for the debts incurred in the running of the company and the creditors are, in principle, precluded from looking to the directors or shareholders for payment of any shortfall arising as a result of the company's insolvency. This principle has, in a number of jurisdictions undergone statutory change such that in certain circumstances, the directors and others who were concerned with the management of the company may be made liable to contribute, personally, to meet the payment – in part or entirely – of the company's debts. This paper aims to explore this statutory jurisdiction. It also seeks to describe succinctly the process by which the shift from unlimited to limited liability trading was achieved. It will end by examining briefly a comparatively new phenomenon, namely that of a shift in the focus of the directors' duties from company and shareholders to the creditors as the company becomes insolvent and nears the stage of a formal declaration of its insolvent status – the so-called 'zone of insolvency'.
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Catherin, Melia, and Budi Purwanto. "Analisis Kemungkinan Kebangrutan Berbasis Pendekatan Model Z-Score Altman dan Metode EVA pada PT X di Provinsi Kepulauan Bangka Belitung." Jurnal Manajemen dan Organisasi 7, no. 3 (June 5, 2017): 169–83. http://dx.doi.org/10.29244/jmo.v7i3.16680.

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PT X has a regional office in Bangka Belitung Island Province which has been decrease in sales, increase in credit and inventory which may lead to insolvency. The purposes of this research was (1) to analyze the financial performance of PT X to learn factors affecting insolvency possibilities; (2) to analyze company condition that indicate insolvency possibilities; (3) to analyze the added values which could be given by the company in an insolvency possibility; (4) to analyze the relation of added values that had been given by the company with insolvent condition possibility. The primary data were gathered by interview. Secondary data consisted of financial reports, journal literatures, thesis, and related books. The data were processed through descriptive analysis, financial ratio, Z-score Altman model, and EVA method. Based on the descriptive analysis result, PT X was suffering a possibility of bankruptcy that may affect firm value which was also decrease. The financial ratio showed that cash ratio, operational profit margin, inventory cycle, credit cycle ratio, assets cycle ratio were decrease, DER and DAR were decreasing from 2010 until 2012, but it roused significantly in 2013 and turned back to decrease significantly on 2014. The result form Z-Score model showed that the company was in gray area in 2011, the company condition went better in 2012, but it went back to gray area in 2013-2014. The EVA result showed that PT X produced positive and decreased in EVA value from 2010 until 2014.
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O'Brien, Angus. "Overview: Company and Insolvency Law." Cambridge Journal of International and Comparative Law 3, no. 1 (2014): 257–60. http://dx.doi.org/10.7574/cjicl.03.01.159.

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Khan, Shereen, Nasreen Khan, and Olivia Swee Leng Tan. "DIRECTORS’ DUTY AND LIABILITY IN INSOLVENT TRADING." International Journal of Law, Government and Communication 5, no. 21 (December 6, 2020): 130–37. http://dx.doi.org/10.35631/ijlgc.5210010.

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The effect of the novel coronavirus (Covid-19) pandemic has resulted in current and future liquidity, balance sheet, and cash flow problems. There is an anticipated decline in the profitability of the businesses during this uncertain period and attention has been turned to the directors’ ‘duties and liabilities’ to creditors when the company is on the verge of insolvency. Directors have to strike a balance among the shareholders, creditors, and workers in the corporate restructuring process. In engaging with these stakeholders during the transformation process, the directors play a key role. It is about quick choices and decisions to be taken to save a business on the verge of insolvency, and it is therefore vital that directors act at the first sign of financial distress. There is a general duty for directors not to trade when insolvent or close to the point of insolvency. Directors also have a contractual obligation to avoid insolvent trading. This article discusses the duties of directors under the Companies Act 2016 (CA 2016) to avoid insolvent trading. It further discusses by analysing based on the comparative study with other selected jurisdictions. This article proposes that while it is important to protect creditors’ interest by making the directors personally liable for insolvent trading, for the best interest of all stakeholders, there should be a balance between the security of creditors and the rescue of the company.
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Shubhan, M. Hadi. "Legal Protection of Solvent Companies from Bankruptcy Abuse in Indonesian Legal System." Academic Journal of Interdisciplinary Studies 9, no. 2 (March 10, 2020): 142. http://dx.doi.org/10.36941/ajis-2020-0031.

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In bankruptcy legal system in Indonesia, the court can issue bankruptcy verdict without assess a company’s solvency condition, whether the company is solvent or insolvent. The provision of this law is very prone to be misused by creditors with bad faith. Insolvency test is able to protect debtors and to prevent the abuse of bankruptcy by malice creditors. This paper aims to analyze the legal protection of solvent companies from bankruptcy abuse in Indonesian legal system. By using normative and juridical approach, the results showed that the insolvency test can be included in the future amendment of Indonesian bankruptcy law. The implementation of insolvency test therefore is not administered outside the bankruptcy proceedings, but still in the respective bankruptcy proceedings. Insolvency test can be implemented by judges based on convincing evidences such as money report made by registered Public Accountant Office. A debtor, with bad faith, should not be eligible to get protection to avoid himself from bankruptcy with the insolvency test, although the debtor has good solvability.
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Mamutse, Blanca. "Environmental liabilities in insolvency – an area ripe for reform?" International Journal of Law in the Built Environment 8, no. 3 (October 10, 2016): 243–68. http://dx.doi.org/10.1108/ijlbe-06-2016-0007.

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Purpose The paper aims to examine the question whether legislative reform is the silver bullet for the problems generated by the failure of a company which is exposed to claims arising from the non-fulfilment of its environmental obligations. The limited capacity of the UK insolvency regime to facilitate the fulfilment of a debtor company’s environmental obligations is often illustrated with reference to some significant judicial decisions. However, no real picture has emerged of the frequency with which these issues arise, based on which firm proposals for reform could be advanced. This paper argues that greater regard should be paid to existing mechanisms which provide a means of enabling insolvency risks to be managed or minimised because these point towards the scope for these issues to be resolved through the environmental protection framework rather than through reliance on company and/or insolvency law. Design/methodology/approach Research was conducted into the statutory and non-statutory regulations (such as statutory guidance) and case law principles, which underpin the treatment of the claims against an insolvent (or potentially insolvent) company resulting from its environmental activities. This included research into policies which have a bearing on this area, developed through governmental and civic consultations and studies. Findings The paper concludes that the likelihood of a case for legislative reform being made out is weak, and the focus should accordingly shift to strengthening the effectiveness of existing law, policy and practice. Originality/value This paper is the first (in the UK context) to challenge the perceived need for reform in this area, engaging with recent examples of such corporate failures and the impact of recent legislative and policy developments.
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Schönfeld, Jaroslav. "FINANCIAL SITUATION OF PRE-PACKED INSOLVENCIES." Journal of Business Economics and Management 21, no. 4 (June 11, 2020): 1111–27. http://dx.doi.org/10.3846/jbem.2020.12820.

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This paper is focused on the financial situation of companies entering insolvency proceedings. It does not work with all kinds of the insolvent companies, but this paper concentrates on one specific issue. The issue is pre-pack insolvencies. The main aim is to show if the financial situation is an important factor for consent to pre-pack. The pre-pack insolvencies are insolvency cases which start with an insolvency proposal which is accompanied by a reorganization plan already approved by creditors. Prepacks should help make the insolvency process quicker and enable enterprise financial rehabilitation and sustain the going concern principle. On the other hand, the procedure can hardly be successful when the financial situation of the company is extremely poor. Therefore this paper evaluates the financial situation of the companies with pre-packed insolvency in the Czech Republic. The analysis of companies was conducted over one, two or three year periods prior to the companies entering an insolvency proceeding. According to the literature, financial indicators used for evaluation are commonly EBITDA, cash liquidity, debt ratio, ROA and the Altman Z-Score prediction model. Results for the individual enterprises are summed up in this paper using basic descriptive and variable statistics. Conclusions have especially practical implications because they show financial inability of majority pre-packed cases.
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Prokopowicz, Tomasz, and Tadeusz Krupa. "Modeling of Polish Enterprises Insolvency Processes with the Use of Gorbatov Characterization Principle - Research Results." Foundations of Management 2, no. 1 (January 1, 2010): 71–98. http://dx.doi.org/10.2478/v10238-012-0022-y.

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Modeling of Polish Enterprises Insolvency Processes with the Use of Gorbatov Characterization Principle - Research Results Economical activities of enterprises should be based on such managerial decisions that assure quick and effective adjustment of the company to the changes that appear in the market. Enterprises, which are not able to use their opportunities and avoid threats, are bound to face the thread of insolvency. Effects of the insolvency are felt not only by the enterprise, but also by its creditors. Therefore, it is necessary to elaborate a warning system that will beforehand allow diagnosing the condition of the enterprise and setting necessary directions for the company to avoid insolvency. The article presents research results on the use of characterization theory in the creation of insolvency threat evaluation model based on Polish enterprises.
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Poiedynok, V. V., and I. V. Kovalenko. "RESPONSIBILITY OF DIRECTORS IN BANKRUPTCY PROCEDURES UNDER EU LAW AND INDIVIDUAL MEMBER STATES OF EU." Economics and Law, no. 1 (April 15, 2021): 48–60. http://dx.doi.org/10.15407/econlaw.2021.01.048.

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The Bankruptcy Proceedings Code of Ukraine provides for the possibility of imposing liability under the obligations of the debtor – a legal person on the founders (stakeholders, shareholders) or other persons who have the right to give mandatory instructions to the debtor or have the opportunity to otherwise determine his actions. As a result, "comfortable" organizational forms of companies, such as LLCs and JSCs, have become risky for investors; managers, who may be employees, bear risk too. The article analyzes the legislation of the EU and some EU member states (Germany, France, Spain, the Netherlands, Latvia, Romania), concerning the liability of individuals in insolvency proceedings. We find that the rules on such liability are not harmonized at the EU level; as for individual countries, their laws do provide for the possibility of holding both de jure and de facto directors, whereas the latter may include the founders (stakeholders, shareholders) of the company, for the debts of the company. At the same time, the legislation of European countries describes in great detail the conditions and procedure for imposing such liability, which makes the risks for the individuals concerned predictable. Moreover, special rules on liability in insolvency proceedings are systematically linked to the provisions of company law, which establish the obligation of directors to act with due diligence in the interests of the company and liability for knowingly making business transactions with the knowledge that the company is insolvent (wrongful trading). In Ukraine, there are absolutely no specific legal provisions on the conditions and procedure for holding even de jure directors to liable in insolvency proceedings, not to mention the founders (stakeholders, shareholders) of companies, which creates a situation of legal uncertainty. To eliminate it, the legislation of Ukraine should define: the range of individuals on whom such liability may be imposed; a specific list of actions, the commission of which may give rise to liability; the need to prove the guilt of such individuals; forms of guilt sufficient to be held liable (only intent or also negligence); procedural rules for establishing guilt, including the issue of the burden of proof; who may lay claim to a director (insolvency administrator, creditor, court); statutes of limitations on the liability of directors, etc.
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Dissertations / Theses on the topic "Insolvency of the company"

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Kosovský, Alexander. "Strategic options of distressed companies in the Czech legal environment." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-125181.

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The thesis provides a detailed overview of crisis resolution options available to distressed companies in the Czech legal environment. The work starts by describing the most common causes of corporate distress in attempt to understand the process of decline and define the key steps to prevent crisis in the early stage. We then proceed to discuss the methods of resolution that can be applied in the early pre-bankruptcy stages of distress, including downsizing and divestitures, out-of-court settlement with creditors, mergers with or acquisition by strategic or financial investors, or voluntary liquidations. Further on, the work provides a comprehensive summary of the Insolvency Act, the Czech legislation governing bankruptcy proceedings, concentrating on the option that could preserve business operations of troubled companies -- reorganisation. In the practical part of the thesis, the author evaluates the reorganisation plan of ČKD Kutná Hora, a.s., focusing on the company-specific issues and assessing the viability of the plan according to a number of success and risk factors, as well as the objectives stipulated by the Insolvency Act.
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Kargbo, Abdul Karim. "The post-1986 UK insolvency system : a study of mode of resolution and of company outcome." Thesis, City University London, 2009. http://openaccess.city.ac.uk/12033/.

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This thesis empirically investigates the United Kingdom (UK) insolvency code by focusing on the formal procedures available to distressed firms in the UK. The UK insolvency code is characterised as a creditor-oriented system that enforces a binding agreement between the company and the creditors with a view to maximising payouts to the creditors. However, the government has introduced two major legislative changes – the Insolvency Act 1986 and the Enterprise Act 2002 – to move the UK insolvency code away from its creditor-orientation and towards a system that will increase the chances of distressed, but viable, firms in the UK to reorganise. The introduction of the Insolvency Act 1986 paved the way for distressed companies in the UK to enter into a formal procedure (administration) specifically introduced as a means of encouraging a culture of reorganisation for distressed firms in the UK. This thesis investigates the functioning of the UK code, by focusing on the two main formal procedures available to distressed firms (administration and administrative receivership) after the introduction of the 1986 Act. The introduction of the Enterprise Act 2002 resulted to the abolition of the administrative receivership procedure while maintaining the administration procedure as the key formal rescue procedure in the UK insolvency code. Hence, conducting research in the UK formal insolvency procedure is important as it provides empirical evidence on the administration procedure, which is now the main rescue vehicle under the Enterprise Act 2002. The thesis focuses on the post-1986 regime in the UK. It consists of 8 chapters including 3 empirical chapters. Chapter 5 examines a large sample of UK firms that initiated administration or administrative receivership procedures between 1996 and 2001. The aim is to investigate the choice of the resolution form between administration and administrative receivership. The main research question is to investigate whether the newly introduced administration procedure catered for firms with a different set of financial and other characteristics to those that entered administrative receivership. The findings show that there are some distinguishing characteristics between firms entering administration and those entering administrative receivership, implying that administrative receivership was not necessarily the most appropriate insolvency procedure for all distressed firms. Chapter 6 examines a sample of UK firms that entered administration between 1996 and 2001. The aim of this chapter is to investigate the differences between firms that reorganised in administration versus those that liquidate. The key issue here is whether administration procedure can differentiate between firms potentially likely to survive and those likely to fail. The findings show that there are significant differences between firms that reorganise and those that fail in administration, suggesting that the administration procedure is able to discriminate between viable and non-viable firms. Chapter 7 examines the subsequent performance of UK firms that reorganised in administration between 1996 and 2001 relative to a matched sample firms from the same industry and of relatively the same size. The aim was to assess the subsequent performance of companies that reorganise in administration using several key ratios, covering the period from two years prior to failure until three years afterwards. The results show significant improvements in the financial performance of reorganised firms, relative to a matched sample firms, during the period after entering administration. In summary, these results show the importance of introducing the administration procedure in the Insolvency Act 1986. Prior to this date, there was the possibility that some of those firms that reorganised in administration post-1986 might have been liquidated as there was no formal procedure aiming to reorganise distressed firms at that time. The findings clearly show the potential of the administration procedure in attracting distressed firms capable of reorganising. That procedure has now become the foundation upon which the UK insolvency code is built as indicated by the Enterprise Act 2002. However, having said that, the 1986 system also opened the way for severely distressed companies that should have been liquidated speedily in administrative receivership to attempt reorganisation in administration, thus wasting those firms’ already severely depleted resources further. In my opinion, the Enterprise Act 2002 should safeguard against this by putting in place procedures to prevent economically distressed companies from attempting to reorganise in administration.
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Procházka, Martin. "Řešení úpadku společnosti FEREX-ŽSO spol. s r.o." Master's thesis, Vysoká škola ekonomická v Praze, 2016. http://www.nusl.cz/ntk/nusl-261968.

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This thesis is focused on the solution of the corporate bankruptcy. Its goal is not only to determine the causes of the bankruptcy of FEREX ŽSO spol. s r.o. after successful completion of the reorganization, but also to assess the suitability of the chosen method of solution in terms of the Insolvency Act. The work is divided into theoretical and practical part. The theoretical part describes the life cycle of an enterprise, important parts of the insolvency law and financial analysis methods. In order to meet the goals there are used financial analysis, analysis of the insolvency proceedings and comparison with results of researches in the field of insolvency.
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Šmídová, Stanislava. "Rozbor finanční situace podniku a řešení insolvence v účetnictví." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-72025.

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The thesis is focused on two main fields: first one is financial analysis as a possibility of predicting a stringency of a company, second one being insolvency resolution from legal and accounting points of view. The theoretical part of the thesis describes the importance and the content of financial analysis, the crisis of a company and further on it deals comprehensively with insolvency proceedings. The practical part is mainly focused on performance analysis of the financial situation of a selected company, it sets problems in the field of financial management. It also gives an opinion on the possibility of the company's bankruptcy and demonstrates an insolvency proceedings in accounting.
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Honc, Adam. "Ocenění firmy MSV Metal Studénka, a. s." Master's thesis, Vysoká škola ekonomická v Praze, 2016. http://www.nusl.cz/ntk/nusl-261962.

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The aim of this thesis is to determine the market value of joint-stock company MSV Metal Studénka for 31. 12. 2015. The thesis is divided into theoretical-methodological and practical part. The former contains the definitions of terms, techniques and methods which relate to not only the problems of company appreciation but also insolvency law focusing on corporate restructuring. In the practical part, the theoretical groundwork is applied. After the initial introduction of the company including a brief description of the course of insolvency proceeding, a strategic and financial analysis is conducted. After the evaluation of the company's financial health and future perspective, a division of assets into operationally necessary and unnecessary, analysis and value generator prognosis, financial plan formulation and the evaluation itself follow. For the final company appreciation, the discounted cash flow method in the variant of free cash flow to the firm (FCFF) is used.
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Kopecký, Ondřej. "Stanovení hodnoty firmy KORDÁRNA, a.s." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-16599.

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The work attempts to determine the value of company Kordárna, a.s. due to ongoing insolvency process. In the theoretical part there are described the methodological tools that are used in the valuation. They describe internal and external potential of the company. These methods are applied to the company in the practical part. In addition to determining the value of the company there is also assessed advantage of the reorganization, which allows the new insolvency law. The work shows that the reorganization causes higher proportional satisfaction of creditors than in the case of bankruptcy.
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Stehlíková, Anna. "Nástroje předcházení podnikové krizi." Doctoral thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-199299.

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Abstract: The doctor's dissertation paper addresses the social problem, how business units should use the standard economic tools to prevent crisis. The importance of the problem is supported by the fact, that last year more than eleven thousand economic entities in the Czech Republic became insolvent. The Set of Tools for Corporate Crisis Prevention shall help to better adjust the internal control mechanisms, using which businesses could better prevent crisis. Application of this Set of Tools for Corporate Crisis Prevention is verified based on two completely different companies. The dissertation addresses the question of how use standard tools such as loan and leasing for crisis prevention, possibly secure the recovery of growth opportunities. This support is implemented by using an external financial institution, or the Intercompany bank. In the chapter entitled "intercompany bank", I describe the basic principles of operation and its importance for internal control. This internal organization has been used in many companies, but today is back to support the sales department and help reduce risk associated with the greater indebtedness of the company. I am describing the Intercompany bank in the context of internal processes and forms of cooperation with the sales department. Functionality of the intercompany bank is supplemented with examples from practice. The chapter called "Micro-enterprise approach of the crisis" is complemented by the complexity of internal financial perspective to company's management. This chapter describes three main sources of the company crisis from a microeconomic perspective. It is decreasing demand, the impact of interest rate exchanges on corporate governance and the impact of exchange rate changes on the financial stability of the company. The analytical part of presented dissertation thesis deals with development of insolvency proposal, bankruptcy, and reorganization proposals in The Czech Republic between 2008 and 2013. The main target is finding the causal dependences between insolvency requirements in the Insolvency Register and a few key macroeconomic indicators such as GDP, unemployment rate, industrial production growth and the amount of loans granted to the corporate sector. For a more comprehensive view of insolvency arrangement of The Czech Republic is accompanied by description of the legislative settings in The UK, Germany and France. Keywords: Bankruptcy proposals, Bankrupt, Company crisis, Exchange rate, Industrial production, Insolvency, Insolvency proposals, GDP, Leasing, Reorganization, Unemployment rate.
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Bersheda, Vucurovic Tetiana. "Civil liability of company directors and creditor protection in the vicinity of insolvency : comparative analysis based on the Swiss and English legal systems /." Zürich [etc.] : Schulthess, 2007. http://aleph.unisg.ch/hsgscan/hm00205133.pdf.

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Wilms, Tobias. "Die englische Ltd. in deutscher Insolvenz : nach Centros, Überseering und Inspire Art /." Baden-Baden : Nomos, 2006. http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&doc_number=014952715&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA.

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Budriūnas, Justas. "Ar keičiasi įmonės vadovo fiduciarinės pareigos įmonės nemokumo laikotarpyje?" Master's thesis, Lithuanian Academic Libraries Network (LABT), 2010. http://vddb.laba.lt/obj/LT-eLABa-0001:E.02~2010~D_20100614_111724-28495.

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Šiuolaikinėse teisinėse sistemose įtvirtintų įmonės vadovo fiduciarinių pareigų instituto tikslas - apsaugoti įmonės (akcininkų) interesus nuo įmonės vadovo veiksmų. Vadovaudamasis fiduciarinėmis pareigomis, įmonės vadovas privalo veikti išimtinai įmonės interesams. Šio darbo problema yra ta, kad įmonės vadovas veikdamas išimtinai įmonės (akcininkų) interesams įmonės nemokumo laikotarpiu, pažeistų įmonės kreditorių teises bei interesus. Šiam darbui keliami šie uždaviniai : (1) išsiaiškinti privataus juridinio asmens vaidmenį teisinėje sistemoje; (2) pateikti įmonės vadovo fiduciarinių pareigų sampratą ir reglamentavimą tarptautiniame kontekste; (3) atskleisti įmonės nemokumo atsiradimo momentą bei teisines pasekmes; (4) išsiaiškinti, kokį poveikį daro įmonės nemokumas privataus juridinio asmens vadovo fiduciarinėms pareigoms. Šio darbo tikslas – išsiaiškinti įmonės vadovo fiduciarines pareigas bei atsakyti į klausimą, ar keičiasi įmonės vadovo fiduciarinės pareigos įmonei esant nemokiai. Šio darbo objektas – privataus juridinio asmens fiduciarinės pareigos. Įgyvendinant darbo tikslą, daugiausia dėmesio buvo skiriama įmonės vadovo fiduciarinių pareigų ir įmonės nemokumo sąvokų sampratoms bei įmonės vadovo fiduciarinių pareigų pasikeitimo nustatymui ryšium su įmonės nemokumu. Šis iškeltas tikslas darbe sėkmingai įgyvendintas – vadovaujantis Lietuvos bei tarptautine teismų praktika, įstatymais bei moksline literatūra. Vadovaujantis JAV (išskyrus Šiaurės Karolinos valstiją) ir... [toliau žr. visą tekstą]
The title of this work is: do the fiduciary duties of director of the company change during the period of insolvency? The problem of this work is that lots of directors of companies uses creditors funds and deepens the company insolvency. It’s because they have a fiduciary duty to act in the best interests of their company, so they are trying to get back their company to solvency. The actuality. The main purpose of every company is to get the bigger profit in what their work. Often, profit enforces the director of the company to take untenable, risky business decisions independently of other subjects’ interests. In modern law countries, the fiduciary duties of director of the company are the main protector for other subjects (most often shareholders) from useless, conflicting business decisions. According to the statistics department of Lithuania and data of Lithuanian courts, there were 957 company bankruptcy cases in 2008 and 1409 company bankruptcy case in 2009. Constantly rising numbers of bankruptcy procedures in Lithuania show that more and more companies faces the insolvency financial stage during the economical crisis in the world, so proper regulation of directors fiduciary duties become more and more important question in every countries legal system. Insolvency of the company establishes specific relationships between company and the creditors of the company. In the financial period of insolvency, company starts to use creditors’ resources, to get back to the... [to full text]
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Books on the topic "Insolvency of the company"

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Assaf, Farid. Voidable transactions in company insolvency. Chatswood, NSW: LexisNexis Butterworths, 2015.

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Forde, Michael. The law of company insolvency. 2nd ed. Dublin: Round Hall, Thomson Reuters, 2008.

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Leigh, Karen. Personal bankrupcy and company insolvency. London: Easyway Guides, 1996.

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Leigh, Karen. Personal bankruptcy and company insolvency. London: Easyway Guides, 1996.

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The law of company insolvency. Blackrock, Co. Dublin: Round Hall Press, 1993.

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Bennett, David A., W.S. and Palmer, Francis Beaufort, Sir, 1845-1917., eds. Palmer's company insolvency in Scotland. Edinburgh: W. Green/Sweet & Maxwell, 1993.

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Great Britain. Parliament. House of Commons. Committee of Public Accounts. Insolvency Service Executive Agency: Company director disqualification. London: HMSO, 1994.

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Gilchrist, Brian, John Scott, Susan Kwan, and Thomas Vaizey. Company law in Hong Kong: Insolvency. Hong Kong: Thomson Reuters Hong Kong, 2012.

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Gilchrist, Brian, John Scott, Susan Kwan, and Thomas Vaizey. Company law in Hong Kong: Insolvency. Hong Kong: Sweet & Maxwell/Thomson Reuters, 2014.

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National Institute on Insurer Insolvency (1986 Boston, Mass.). Law and practice of insurance company insolvency. [Chicago]: American Bar Association, Division for Professional Education, 1986.

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Book chapters on the topic "Insolvency of the company"

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Dine, Janet, and Marios Koutsias. "Insolvency." In Company Law, 244–58. London: Macmillan Education UK, 2014. http://dx.doi.org/10.1007/978-1-137-01562-4_13.

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Hudson, Alastair. "Corporate insolvency." In Understanding Company Law, 237–49. Second edition. | Abingdon, Oxon; New York, NY: Routledge, 2017.: Routledge, 2017. http://dx.doi.org/10.4324/9781315158099-15.

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Dine, Janet. "Insolvency and Corporate Reconstruction." In Company Law, 297–320. London: Macmillan Education UK, 1998. http://dx.doi.org/10.1007/978-1-349-14583-6_17.

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Ervine, Cowan. "Insolvency Act 1986 (1986, c. 45)." In Core Statutes on Company Law, 27–177. London: Macmillan Education UK, 2015. http://dx.doi.org/10.1007/978-1-137-54507-7_4.

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Ervine, Cowan. "Insolvency Proceedings (Monetary Limits) Order 1986 (SI 1986, No. 1996)." In Core Statutes on Company Law, 688. London: Macmillan Education UK, 2015. http://dx.doi.org/10.1007/978-1-137-54507-7_13.

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Ervine, Cowan. "Insolvency Act 1986 (Prescribed Part) Order 2003 (SI 2003, No. 2097)." In Core Statutes on Company Law, 691–92. London: Macmillan Education UK, 2015. http://dx.doi.org/10.1007/978-1-137-54507-7_16.

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Daykin, C. D., and G. B. Hey. "A Management Model of a General Insurance Company using Simulation Techniques." In Managing the Insolvency Risk of Insurance Companies, 77–108. Dordrecht: Springer Netherlands, 1991. http://dx.doi.org/10.1007/978-94-011-3878-9_2.

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Slorach, J. Scott, and Jason Ellis. "25. Company insolvency proceedings." In Business Law 2020-2021, 249–68. Oxford University Press, 2020. http://dx.doi.org/10.1093/he/9780198858393.003.0025.

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This chapter deals with the procedures available when a company is insolvent or facing financial difficulties. It also considers the ways in which insolvent partnerships can be subject to the same procedures as companies. The law relating to these matters is principally contained in the Insolvency Act 1986 together with the Insolvency Rules 1986, as amended by the Insolvency Act 2000 and the Enterprise Act 2002. The insolvency legislation provides four procedures for companies in financial difficulties: administration, voluntary arrangement, receivership, and liquidation.
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Slorach, J. Scott, and Jason Ellis. "25. Company insolvency proceedings." In Business Law, 249–70. Oxford University Press, 2021. http://dx.doi.org/10.1093/he/9780192844316.003.0025.

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This chapter deals with the procedures available when a company is insolvent or facing financial difficulties. It also considers the ways in which insolvent partnerships can be subject to the same procedures as companies. The law relating to these matters is principally contained in the Insolvency Act 1986 together with the Insolvency Rules 1986, as amended by the Insolvency Act 2000 and the Enterprise Act 2002. The insolvency legislation provides four procedures for companies in financial difficulties: administration, voluntary arrangement, receivership, and liquidation.
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Slorach, J. Scott, and Jason Ellis. "25. Company insolvency proceedings." In Business Law 2019-2020, 251–70. Oxford University Press, 2019. http://dx.doi.org/10.1093/he/9780198838579.003.0025.

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This chapter deals with the procedures available when a company is insolvent or facing financial difficulties. It also considers the ways in which insolvent partnerships can be subject to the same procedures as companies. The law relating to these matters is principally contained in the Insolvency Act 1986 (IA 1986) together with the Insolvency Rules 1986, as amended by the Insolvency Act 2000 and the Enterprise Act 2002. The insolvency legislation provides four procedures for companies in financial difficulties: administration, voluntary arrangement, receivership, and liquidation.
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Conference papers on the topic "Insolvency of the company"

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Kelmere, Laila. "Protection of employees in insolvency proceedings." In 21st International Scientific Conference "Economic Science for Rural Development 2020". Latvia University of Life Sciences and Technologies. Faculty of Economics and Social Development, 2020. http://dx.doi.org/10.22616/esrd.2020.53.010.

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When an enterprise becomes insolvent, it affects the partners (suppliers) of the company, the State and has a significant impact on the employees. The issue of the protection of workers' rights is one of the most important aspects in situations where the employer is declared insolvent. The country can develop its own employee protection system in case of company’s insolvency. In this article, based on the statistical data for the period 2003 – 2019, the author analyses the situation in Latvia. The aim of the study is to analyse the existing employee protection mechanism in Latvia, which the State implements with the help of state entrepreneurial risk fee. Two ways of protecting the rights of employees or satisfying claims are distinguished: a privilege system and a guarantee system. Latvia chooses the guarantee system. In this article, based on the statistical data obtained, it is proved that the model chosen by Latvia is financially successful although creates a negligible burden for entrepreneurs, and its benefits are significant because, in line with the situation of Latvia, sufficient financial resources are accumulated each year and employees' claims are covered to a certain amount according to regulations in enactments, as well as the Income Tax and Mandatory State Social Insurance Contributions are paid from these requirements covered by the guarantee fund. The author considers that the State may act as an intermediary or insurer in the insolvency situations of an undertaking in order to protect employees and, in particular, the State budget from covering unforeseeable costs.
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Mietule, Iveta, and Alona Klodaāne. "Diagnostic of Company's Financial Crisis as an Insolvency Prevention Measure." In 5th International Conference on Accounting, Auditing, and Taxation (ICAAT 2016). Paris, France: Atlantis Press, 2016. http://dx.doi.org/10.2991/icaat-16.2016.34.

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Liodorova, Julija, and Irina Voronova. "Z-score and P-score for bankruptcy fraud detection: a case of the construction sector in Latvia." In Contemporary Issues in Business, Management and Economics Engineering. Vilnius Gediminas Technical University, 2019. http://dx.doi.org/10.3846/cibmee.2019.029.

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To protect investment and ensure repayment of payables, recent studies have focused on identifying the relationships between company bankruptcy and internal fraud. The P-score model that is based on the most popular Altman Z-score model has been developed to indicate the manipulation of financial statements. Purpose of the study is to determinate the accuracy and the feasibility of P-score and Z-score models to detect fraudulent bankruptcy in regional conditions, based on reports of the Latvian construction companies that failed due to fraud, and during the verification of other known data. Research methodology is based on the background studies of P-score testifying, applying this approach to the Latvian condition. The present study analyzes the behaviour of the two models in identifying distress and fraud. To testify the results of the study, the authors use the financial analysis methods, comparison, statistical and quantitative research methods. Findings have shown the possibility of using the P-score and Z-score technique for bankruptcy fraud detection at the Latvian companies, based on the construction sector samples. The accuracy of the method is above 80%. Research limitations – acquisition a large amount of data on companies that are in the process of analytical studies on the recognition of their insolvency and having signs of fraud is not possible due to the confidentiality of information. Practical implications – the results of the study may be applicable to the audit of the company, investment reliability assessment, partnership evaluation and economic examination to detect fraud. Originality/Value of the study is the first test of practical implication of P-score model in Latvia and the Baltic countries on the samples of small and medium-sized construction companies. The authors propose improving the coefficients of the P-score model taking into account the requirements for financial statements in Latvia
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Sampson, Paul. "Insolvency." In IEE Colloquium on `Principles of Law for Engineers and Managers'. IEE, 1996. http://dx.doi.org/10.1049/ic:19961426.

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COJOCARU, CRISTINA. "SOME CONSIDERATIONS ON THE LIABILITY OF THE MANAGEMENT BODIES OF AN INSOLVENT COMPANY IN ROMANIAN LAW." In SGEM 2014 Scientific SubConference on POLITICAL SCIENCES, LAW, FINANCE, ECONOMICS AND TOURISM. Stef92 Technology, 2014. http://dx.doi.org/10.5593/sgemsocial2014/b21/s5.107.

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Akšamović, Dubravka. "EU INSOLVENCY LAW - NEW RECAST REGULATION ON INSOLVENCY PROCEEDINGS." In PROCEDURAL ASPECTS OF EU LAW. Faculty of Law, Josip Juraj Strossmayer University of Osijek, 2017. http://dx.doi.org/10.25234/eclic/6522.

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Mrázová, Iveta, and Peter Zvirinský. "Czech Insolvency Proceedings." In ICMLC 2018: 2018 10th International Conference on Machine Learning and Computing. New York, NY, USA: ACM, 2018. http://dx.doi.org/10.1145/3195106.3195176.

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Rassokhina, Anna Sergeevna. "Cross-border insolvency: regulation models." In XII International Student Scientific and Practical Conference. TSNS Interaktiv Plus, 2017. http://dx.doi.org/10.21661/r-115702.

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Čámská, Dagmar. "Insolvency proceedings - analysis of enterprise leverage." In International Days of Statistics and Economics 2019. Libuše Macáková, MELANDRIUM, 2019. http://dx.doi.org/10.18267/pr.2019.los.186.25.

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Kelmere, Laila. "Financial Statement Quality Problems in the Insolvency Process." In International Scientific Days 2018. Wolters Kluwer ČR, Prague, 2018. http://dx.doi.org/10.15414/isd2018.s7.02.

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Reports on the topic "Insolvency of the company"

1

Albanesi, Stefania, and Jaromir Nosal. Insolvency After the 2005 Bankruptcy Reform. Cambridge, MA: National Bureau of Economic Research, August 2018. http://dx.doi.org/10.3386/w24934.

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Karpunin, A. Yu, and E. V. Karpunina. Distance course «Analysis and Diagnostics of Financial Insolvency». OFERNIO, March 2018. http://dx.doi.org/10.12731/ofernio.2018.23536.

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Becker, Bo, and Jens Josephson. Insolvency Resolution and the Missing High Yield Bond Markets. Cambridge, MA: National Bureau of Economic Research, September 2013. http://dx.doi.org/10.3386/w19415.

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Homonoff, Tatiana, Thomas Spreen, and Travis St.Clair. Balance Sheet Insolvency and Contribution Revenue in Public Charities. Cambridge, MA: National Bureau of Economic Research, December 2019. http://dx.doi.org/10.3386/w26546.

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Kane, Edward, Rosalind Bennett, and Robert Oshinsky. Evidence of Improved Monitoring and Insolvency Resolution after FDICIA. Cambridge, MA: National Bureau of Economic Research, December 2008. http://dx.doi.org/10.3386/w14576.

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Joyce, Yvonne, and Eileen MacLean. Corporate Insolvency and Restructuring: Current Policy Issues and Challenges. University of Glasgow and Insolvency Support Services, March 2021. http://dx.doi.org/10.36399/gla.pubs.237306.

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Porada- Rochon, Małgorzata, Justyna Franc-Dąbrowska, and Radoslaw Suwała. Eliminating the Effects of the Companies Insolvency Risk – A Model Approach. EconWorld Workıng Papers, 2016. http://dx.doi.org/10.22440/econworld.wp.2016.002.

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Richardson, Gary. Bank Distress during the Great Depression: The Illiquidity-Insolvency Debate Revisited. Cambridge, MA: National Bureau of Economic Research, December 2006. http://dx.doi.org/10.3386/w12717.

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Joyce, Yvonne, and Eileen Maclean. COVID-19's Impact on the UK Insolvency and Restructuring Profession. University of Glasgow and Insolvency Support Services, June 2021. http://dx.doi.org/10.36399/gla.pubs.243730.

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Kane, Edward. Capital Movements, Banking Insolvency, and Silent Runs in the Asian Financial Crisis. Cambridge, MA: National Bureau of Economic Research, January 2000. http://dx.doi.org/10.3386/w7514.

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