Dissertations / Theses on the topic 'Insolvency proceedings'

The diploma thesis deals with several areas of issues related to valuing companies in bankruptcy proceedings. These spheres are interconnected. First and foremost it deals with the reasons for company valuation and perspectives of different subjects on this valuation. The second sphere of the thesis is the analysis of valuation approaches that are based on legal regulations of the Czech Republic. The last part of the paper is application of the valuation on a specific business company with subsequent confrontation with the actual realization of the company. Valuation is of crucial importance to creditors because it is determining in relation to their subsequent meeting the submitted claims.

La thèse intitulée « Les actions qui découlent directement de la procédure d'insolvabilité et qui y sont étroitement liées dans le cadre du règlement UE 2015/848 sur les procédures d'insolvabilité » se concentre sur les critères de détermination des juridictions compétentes en matière de litiges découlant de la procédure d'insolvabilité dans le contexte de procédures transfrontalières. Selon son Article 1(1)(b), les procédures d'insolvabilité sont exclues du champ d'application du règlement (UE) n° 1215/2012 (« Règlement Bruxelles ») et devraient être couvertes par le règlement (UE) n° 848/2015 ('Règlement Insolvabilité'). Pour cette raison, en principe, l'interprétation de deux règlements devrait, autant que possible, combler les lacunes réglementaires entre les deux instruments. Le texte du nouvel article 6 Règlement Insolvabilité prévoit désormais que les juridictions compétentes en vertu de l'article 3 du Règlement Insolvabilité soient compétentes dans le cadre de toutes les actions qui découlent directement de la procédure d'insolvabilité et y sont étroitement liées. Toutefois, ce principe (appelé la vis attractiva concursus « réduite » ), malgré quelques clarifications ont été fournies par la Cour de Justice, ne résoudra pas la question et l'interprétation du champ d'application du Règlement Insolvabilité par rapport au Règlement Bruxelles est encore douteuse, car il y a encore beaucoup de zones grises dans l'interprétation de cette règle. Le but de la thèse est d'analyser ce qui est attendu en matière de litiges découlant de la procédure d'insolvabilité et d'analyser les cas où il est controversé qu'elles entrent dans le champ d'application du règlement (UE) n° 848/2015 plutôt que dans celui du règlement n° 1215/2012
The thesis, entitled "Actions deriving directly from insolvency proceedings and closely linked with them under regulation EU 2015/848 on insolvency proceedings", focuses on the criteria for determining the courts having jurisdiction for disputes arising in the context of cross-border Insolvency proceedings. According to its Article l(l)(b), insolvency proceedings are excluded from the scope of Regulation (EU) 1215/2012 ('Brussels Regulation') and should be covered by Regulation (EU) No 848/2015 ('EIR). For this reason, in principle, the interpretation of the two regulations should, as far as possible, fill in the regulatory gaps between the two instruments. The text of the new Article 6 EIR now provides that any action with cross-border elements that prove to be 'directly deriving from Insolvency proceedings and closely linked with them' must be attracted to the jurisdiction of the Member State opening the insolvency procedure under Article 3 EIR. Nevertheless, this principle (referred to as the 'reduced' vis attractiva concursus), despite some clarifications provided by the European Court of Justice, does not resolve the issue, and the interpretation of the scope of application of the Insolvency Regulation and the Brussels Regulation's remains questionable, as there are still many grey zones in the interpretation of this rule. The aim of the thesis is to analyse what kind of actions should be regarded as 'directly deriving from' and 'closely linked with' insolvency proceedings, and to analyse those cases where it is controversial whether the action should fall within the scope of the EIR rather than the Brussels Regulation

La questione delle azioni individuali che derivano direttamente dal fallimento e ad esso ineriscono (nel seguito, c.d. “azioni ancillari”) nel contesto europeo è stata storicamente affrontata con riferimento all’ambito di applicazione della Convenzione di Bruxelles del 1968 sulla competenza giurisdizionale, il riconoscimento e l’esecuzione delle decisioni in materia civile e commerciale (la “Convenzione di Bruxelles”). In mancanza (all’epoca) di una disciplina comunitaria sull’insolvenza transfrontaliera, con la nota sentenza Gourdain, la CGE ha interpretato la nozione di azione ancillare sotto il prisma dell’esclusione relativa a “i fallimenti, i concordati e le procedure affini”, prevista dall’articolo 1(2)(2) della Convenzione di Bruxelles. È stato in quell’occasione che la Corte ha ritenuto che le azioni in qualche modo riferibili al fallimento sono escluse dal campo di applicazione della Convenzione di Bruxelles (oggi Regolamento Bruxelles Ibis) a condizione che esse derivino direttamente dal fallimento e si inseriscano stretta¬mente nell'ambito del procedimento concorsuale (così coniando quella che, negli anni, è stata definita la “Formula Gourdain”). Le incertezze interpretative derivanti da una formulazione così ambigua, allora riferita al solo ambito di applicazione della Convenzione di Bruxelles, non venivano rimosse (e, anzi, forse erano acuite) dall’introduzione di una specifica disciplina relativa alle procedure di insolvenza. Ed infatti, il successivo Regolamento (CE) 1346/2000 (il “Regolamento Insolvenza”), da un lato conteneva una grave lacuna normativa, poiché nulla diceva in tema di giurisdizione sulle azioni ancillari e, dall’altro lato, anche laddove le menzionava (per fini diversi dalla giurisdizione), si limitava a riprodurre la Formula Gourdain. Il nebuloso quadro normativo appena descritto è stato in parte chiarito dal Regolamento (UE) 2015/848 (il “Regolamento Recast”), che ha provveduto a rimediare alla predetta omissione, prevedendo espressamente la vis attractiva (dimezzata) europea, ai sensi della quale la competenza giurisdizionale sulle azioni ancillari spetta ai giudici dello Stato membro in cui è aperta la procedura. Se è stato così chiarito l’aspetto “dinamico”, relativo alla giurisdizione, resta, invece, parzialmente immutato il problema di una definizione autonoma di azione ancillare, i cui confini, anche nel Regolamento Recast, continuano ad essere delineati dalla Formula Gourdain. Indicazioni solo parziali possono trarsi dal Considerando 35 Regolamento Recast e, soprattutto, dalle pronunce della CGE, che pur consentendo, in parte, di avanzare una più definita sistematizzazione della nozione di azioni ancillari, rivelano sostanzialmente un orientamento ondivago, che non consente di rintracciare (ancora) un criterio generale, certo e condiviso sul punto. Si può allora ipotizzare che, ai fini della normativa europea, ancillari siano quelle azioni che sottendono una pretesa che sorge ex novo dal fallimento, il cui DNA, potremmo dire, è ontologicamente legato all’insolvenza. Si tratta di un numero assai ridotto di azioni quali (prevedibilmente) la revocatoria; le azioni di responsabilità nei confronti di organi della procedura, e le azioni che derivano dallo scioglimento dei contratti esercitato dal curatore per un’espressa previsione della legge concorsuale. Per contro, non sarebbero ancillari tutte le altre azioni rispetto a cui il fallimento si pone quale evento neutro (es. quelle che presentano con il fallimento un legame solo occasionale e quelle che preesistevano nel patrimonio del fallito). Permangono, tuttavia, notevoli dubbi rispetto a quelle azioni, collocabili in un’incerta twilght-zone, al confine tra il diritto civile, commerciale e il diritto fallimentare che, preesistenti al fallimento, sono in qualche misura influenzate dall’apertura di una procedura concorsuale. Nel solco di queste preliminari osservazioni, la tesi si ripropone di analizzare specificatamente il tema delle azioni ancillari nella disciplina europea, non solo indagandone gli aspetti processuali (in particolare, della giurisdizione), ma valutando anche una possibile individuazione di una nozione autonoma di azione ancillare e l’elaborazione di un catalogo di azioni che, pur nelle differenze proprie di ogni ordinamento nazionale, rivelino uno jus commune europaeum che consenta di inquadrarle nell’ambito di applicazione del Regolamento Recast.
Historically, the topic of individual actions directly deriving from and closely linked with insolvency proceedings (hereinafter referred to as “Annex Actions”) has been addressed in the European scenario with reference to the scope ratione materiae of the Brussels Convention dated 1968 on the jurisdiction, recognition and enforcement of judgments in civil and commercial matters (the “Brussels Convention”). In the absence (at that time) of Community rules on cross-border insolvencies, in the Gourdain judgment the ECJ interpreted the notion of Annex Actions under the prism of the exception relating to “bankruptcy, proceedings relating to the winding-up of insolvent companies or other legal persons, judicial arrangements, compositions and analogous proceedings”, set forth by Article 1(2)(2) Brussels Convention. It was on that occasion that the Court held that actions which are related to insolvency proceedings are excluded from the scope of the Brussels Convention (now the Brussels 1a Regulation), with the proviso that they derive directly from insolvency proceedings and are closely linked with them (thus coining what has been called, over the years, the “Gourdain Formula”). The interpretative uncertainties arising from such an ambiguous wording - at the time referring only to the scope of application of the Brussels Convention - were not removed (and possibly were even exacerbated) by the introduction of the European regime on insolvency proceedings. Indeed, the Regulation (EC) 1346/2000 (the “Insolvency Regulation”), on the one hand, revealed a serious regulatory gap, since it did not provide for a rule on the jurisdiction of Annex Actions and, on the other hand, even where it mentioned them (for purposes other than jurisdiction), it laconically restated the Gourdain Formula, with no further clarifications. The nebulous legislative framework described above has been partly clarified by Regulation (EU) 2015/848 (the “Recast Regulation”), which has remedied the aforementioned omission, expressly providing for the (halved) European vis attractiva concursus. According to that principle, the courts of the Member State in the territory of which insolvency proceedings are opened, are vested with the jurisdiction to hear and determine Annex Actions. The impact of the reform over the “dynamic” profile of the vis attractiva concursus must be positively assessed since it has dispelled many of the doubts concerning the allocation of jurisdiction on Annex Actions. Yet, the problem of the autonomous definition of Annex Actions remains partially unsolved, because also under the Recast Regulation, the contours of that concept continue to be defined by the vague Gourdain Formula. Only partial indications can be drawn from Recital 35 Recast Regulation and, above all, from the extensive case-law of the ECJ. The latter, however, allows only to some extent to draw a systematic notion of Annex Actions, as it substantially reveals a wavering orientation, which does not permit to trace (yet) a general criterion, certain and shared on this point. It is suggested that, for the purposes of the European legislation, Annex Actions are those actions underpinning a right or obligation which stems from the opening of insolvency proceedings, whose DNA, we might say, is ontologically linked to insolvency proceedings. They would count a very small number of actions such as (predictably) avoidance actions, liability actions against the trustee and other bodies of the procedure, and actions arising from the termination of contracts exercised by the trustee by virtue of the express powers conferred upon him by insolvency law. On the contrary, all other actions in respect of which the procedure is a neutral (legal) event should not be characterised as Annex Actions (e.g. actions that have only an occasional link with insolvency proceedings and those that existed in the legal sphere of the insolvent debtor prior to the opening of the procedure). However, considerable doubts remain with respect to the characterisation of some actions, which can be placed in an uncertain twilight-zone at the crossline between civil, commercial law and bankruptcy law. Although the legal foundation of those action exists even before insolvency proceedings, they prove to be affected by the opening of the procedure to such an extent that they may be considered as different actions. In the wake of these preliminary observations, the thesis aims to specifically analyse the topic of Annex Actions under the European regime of cross-border insolvencies. Not only it investigates the procedural aspects of the issue (in particular, the jurisdiction), but it also assesses whether it is possible to draw an autonomous notion of Annex Action and elaborate a catalogue of actions, which, despite the differences inherent in each national system, reveal a jus commune europaeum that allows to trace them back under the umbrella of the Recast Regulation.
La thèse intitulé « les actions qui découlent directement de la procédure d’insolvabilité et qui y sont étroitement liées dans le cadre du Règlement UE 2015/848 sur les procédures d'insolvabilité » se concentre sur les critères de détermination des juridictions compétentes en matière de litiges découlant de la procédure d’insolvabilité dans le contexte de procédures transfrontalières. Selon son Article 1(1)(b), les procédures d’insolvabilité sont exclues du Règlement (UE) n° 1215/2012 concernant la compétence judiciaire, la reconnaissance et l’exécution des décisions en matière civile et commerciale (« Règlement Bruxelles ») et devraient relever du champ d’application du Règlement (UE) n° 848/2015 relatif aux procédures d’insolvabilité (« Règlement Refondu »). Pour cette raison, en principe, l’interprétation de deux susmentionnés Règlements devrait, autant que possible, combler les lacunes entre les deux instruments. Le texte du nouvel article 6 du Règlement Refondu prévoit désormais que les juridictions compétentes en vertu de son article 3 soient compétentes également pour toutes les actions qui découlent directement de la procédure d’insolvabilité et y sont étroitement liées. Toutefois, ce principe (appelé la vis attractiva concursus européenne), malgré quelques clarifications ont été fournies par la Cour de Justice, ne résoudre pas la question et l’interprétation du champ d’application du Règlement Refondu par rapport au Règlement Bruxelles est encore douteuse, car il y a encore beaucoup de zones grises dans l’interprétation de cette règle. L'objectif de la thèse est d'analyser quel type d'actions doit être considéré comme « découlant directement » et « étroitement lié » aux procédures d'insolvabilité, et d'analyser les cas où il est controversé de savoir si l'action doit entrer dans le champ d'application du Règlement Refondu plutôt que dans celui du Règlement Bruxelles.

Texte remanié de: Proefschrift--Radboud Universiteit Nijmegen, 2004.
EC = European communauty, UNCITRAL = United Nations. Commission on international trade law. Résumé en néerlandais. Bibliogr. p. 449-468.

Insolvency law is a progressive and dynamic legal discipline closely interrelated with economics and business. A quality legal framework of insolvency is indispensable for modern market economies: it helps to identify companies or individuals in financial distress and to restructure their debts, or liquidate their assets in an efficient and transparent way. The main purpose of the insolvency law is to provide creditors and debtors with a ground for negotiations and to help them reach qualified decisions based on the available information. In the Czech Republic, the insolvency law had long been criticized for its insufficient protection of creditors and for the loopholes that made extensive property frauds possible without having the wrongdoers punished. The current Czech Insolvency Act which took effect in 2008 was broadly inspired by the U.S. Bankruptcy Code Chapter 11 and eliminated most of the weaknesses of the earlier law. This thesis shows that valuable inspiration can be found not only in texts of statutes but also in the real life. On the example of reorganizations of Kordárna and GM described here, main principles of insolvency law are being discussed.

Le nantissement de créance a longtemps été délaissé par les acteurs économiques en raison du régime juridique inadapté qui lui était applicable. Les dispositions concernant le nantissement de créance mises en place par l’ordonnance du 23 mars 2006 relative aux sûretés ont permis de rendre cette garantie attractive pour les créanciers grâce à l’élaboration d’un régime adapté, cohérent et souple.La pratique a toutefois révélé certaines incertitudes dues aux imprécisions des dispositions actuellement en vigueur, source d’un important contentieux et d’insécurité juridique pour les parties.Cette insécurité est accrue au moment où les créanciers ont besoin de s’assurer de l’efficacité de leur sûreté, c’est-à-dire en cas d’ouverture d’une procédure collective à l’encontre du constituant.En effet, l'évolution du droit des entreprises en difficulté a conduit à la mise en place d’une protection accrue du débiteur et une recherche de maintien de l'activité de l'entreprise. Afin de parvenir à cet objectif, les droits des créanciers sont considérablement restreints puisqu'ils sont soumis à une discipline collective et ne peuvent notamment plus poursuivre le paiement de leur créance, ni procéder à la réalisation de leur sûreté.Ainsi, l’étude du fonctionnement du nantissement de créance est nécessaire afin de déterminer si cette sûreté peut être efficace pour le créancier nanti si une procédure collective est ouverte à l’encontre du constituant.Il convient de démontrer que l’efficacité du nantissement de créance dépend des droits qu'il confère au créancier, tels que la notification de la sûreté et le droit exclusif au paiement de la créance nantie. Néanmoins, cette garantie ne trouvera réellement sa place parmi les sûretés les plus protectrices que si ces prérogatives lui sont reconnues également en cas de procédure collective.L'examen du fonctionnement du nantissement de créance et des droits qu'il confère permet de mettre en exergue la possibilité pour le créancier nanti d’exercer et de conserver son droit exclusif au paiement même après le jugement d'ouverture, ce qui confirme l'efficacité de cette sûreté
Pledges over receivables have long been neglected by actors of the economy because of its inadequate legal system. But since the order from March 23rd, 2006 and the new provisions regarding security it implemented, the consistent, appropriate and flexible system has become more attractive for creditors.In practice however, the current provisions are too imprecise to reassure the involved parties who remain uncertain and insecure in their litigations.This uncertainty increases when creditors need to ensure that their security is efficient, i.e. when launching collective insolvency proceedings against the grantor.Indeed, the debtor has become more protected with each alteration of bankruptcy proceedings law which seeks to keep companies active. To that end, creditors’ rights have been greatly restricted: they are subjected to collective discipline and cannot continue paying their receivables.In this context, it appears necessary to study pledges over receivables to ascertain if said security can work for the secured creditor in case of collective insolvency proceedings against the grantor.We shall demonstrate that the efficiency of pledges over receivables depends directly on the rights it gives to the creditor, such as notifying the security and granting exclusive right of payment of the secured receivable. However, this guarantee can only become one of the most protecting securities if these rights are also granted in case of collective proceedings.By examining how pledges over receivables and the right they grant work, we can highlight the possibility for the secured creditor to exercise and keep their exclusive right of payment, even after the opening judgment; thus confirming the efficiency of the pledge over receivables

This thesis deals with claims in insolvency proceedings primarily focusing on the obligations of the insolvency practitioner which arise when dealing with these problems. The aim of this study is to map out all the mentioned claims throughout the whole insolvency proceedings and describe the main role of the insolvency practitioner during the process. The analysis was based on regulations of the Act no. 182/2006 Coll., on Bankruptcy and Its Resolution (Insolvency Act), accompanied by fundamental judicatureand thorough literature review. In addition, the results of this work were also interpretations of the lifecycle of claims from their existence in insolvency proceedings to their extinction.

The topic of this thesis is to compare the effects of bankruptcy and reorganization. In 2008, the new Insolvency Act come in force, which should facilitate the reorganization of companies i.e., maintaining their operation with the same or similar production program, or range of offered services. The intention of this work is to evaluate the effect of the practice of law in a few specific cases. The aim of analysis of these examples was to determine whether borrowers use this new option of the solution of bankruptcy or why reorganizations do not take place more.

The thesis is focused on the causes and consequences of default of Saab. The aim of this thesis is to define the long-term factors that contributed to insolvency and describe the process of insolvency proceedings in Sweden compared to Czech Republic. Definition of causes which brought company to default is based on analysis of the industry and car sales. Financial analysis and comprehensive evaluation enterprise models are used to assess the financial health of the company. The thesis contains also description of the expected development of the newly established company, which has become the successor of car manufacturer Saab.

The Master's Thesis is focused on the problem of securing an operational cash flow for maintaining entrepreneurship activities of organizations that enter into insolvency proceedings because of their insolvency or excessive indebtedness. This issue is addressed by the insolvency law through a new institute of debtor-in-possession financing which is a part of the main purpose of this law to assist companies that have a certain economic potential to create value added in the future prospect. The issue is with obtaining such post-petition financing because there is not many banking or non-banking institutions that would provide this high-risk financing. From the above-mentioned reason, an idea has been developed with the cooperation of Česká Spořitelna a.s. to create a new credit product provided by the banking institution for the Czech financial market. The assessment of rationality, effectiveness, and recoverability, as well as the proposal of standards and requirements for completion of contracts and their structure about debtor-in-possession financing are compiled in the Master's Thesis.

The main topic of this thesis is the course of insolvency proceedings pending under Insolvency Act and the aim is to compare the actual ongoing insolvency proceedings in practice with the theory. In the beginning of thesis are defined the basic terms which can be appeared during the insolvency proceedings. Subsequently, there is theoretically demonstrated the course of insolvency proceedings from the start through the decision on bankruptcy to the ways of resolving insolvency. The following section discusses the economic impacts of the debtor and his creditors. The aim of practical part is demonstrating the application of insolvency law in practice using by the real insolvency proceedings with EQUUS Company Ltd.

Прийняття Кодексу України з процедур банкрутства надало можливість реалізовувати судові процедури банкрутства щодо фізичних осіб, які не мають статусу суб’єкта підприємницької діяльності. Внесення таких змін обумовлене необхідністю наближення національного законодавства до права ЄС. Проте банкрутство фізичних осіб, які не мають статусу підприємця, має істотні особливості у порівнянні з іншими категоріями неплатоспроможних суб’єктів. Внесення такої категорії осіб у Кодекс України з процедур банкрутства обумовлена необхідністю вирішення питання з заборгованостями перед банками та іншими фінансовими установами для оздоровлення фінансової системи в цілому. Проте фінансові можливості таких осіб є достатньо обмеженими та норми Кодексу України з процедур банкрутства у цій частині потребують детального аналізу на предмет відповідності меті зменшення фінансового тягаря для фізичних осіб та оздоровлення фінансової системи.

The Master's Thesis is focused on reorganization as bankruptcy solution according to Act No. 182/2006 Coll., Bankruptcy and Settlement (Insolvency Act), as amended. With a usage of comparison method, it analyses two specific insolvency proceedings which were solved in past and on the basis of their mutual comparison identify important factors that were crucial to determine different results of the proceedings. The main goal of the thesis is to uncover the factors affecting the insolvency proceeding positively or negatively. In first theoretical part there is the analysis of Insolvency Act. The results and knowledge gained in the first part are applied to a comparison in the second one where various data from financial reports and index IN05 are used. These values together with IN05 model are applied as a reflection of important moments which had underlying influence on reorganization process result. In the end of the thesis there is the summary of all gained facts and also different important negative and positive factors are revealed. The thesis shows that it is very difficult to anticipate the result of reorganization for external subject.

The topic of this thesis is bankruptcy as a form of insolvency solution with a practical example of company Z plus M TRADING Ltd. The goal of the thesis is to describe the gist of bankruptcy proceedings and describe the changes in Czech insolvency law that took place with the introduction of the new Civil Code effective from 1 January 2014. The thesis is divided into six chapters. It provides information on history of insolvency, bankruptcy proceedings or provides statistics on insolvency proceedings. The gathered information is then applied to a specific example of a company in bankruptcy.

This thesis focus on the insolvency proceedings, which were performed in the company MOTORPAL, a. s. During more than seventy years of its history, this company built its strong position on foreign markets in the area of production of fuel injectors for diesel engines and also now belongs between the largest employers in the Region of Vysočina. Constantly deteriorating financial situation forced the owners of the company to take strong measures to restore the company, which led, with the support of secured and unsecured creditors, to preparation and drawing up of reorganization plan. The plan was attached to insolvency application of the company, which meant that company chose the pre-packed reorganization as a way how to solve its bankruptcy. The thesis analyzes the main steps of whole process and highlights all the prerequisites which led to successful completion of this insolvency proceedings and to renewals of financial stability of this traditional Czech manufacturing company.

Tarybos reglamentas (EB) Nr. 1346/2000 dėl bankroto bylų yra keturiasdešimties metų pastangų harmonizuoti tarpvalstybinio bankroto jurisdikcijos taisykles Europos Sąjungos kontekste rezultatas. Derinant dviejų tarptautinio bankroto reguliavimo modelių – universalaus ir teritorinio – principus, reglamente įtvirtinamos skirtingos jurisdikcijos taisyklės priklausomai nuo to, ar keliama pagrindinė ar šalutinė (teritorinė) bankroto byla. Magistriniame darbe aptariamas jurisdikciją iškelti pagrindinę bankroto bylą lemiančio kriterijaus – pagrindinių turtinių interesų vietos – turinys. Darbe daroma išvada, jog reglamente nėra nustatyta aiškaus pagrindinių turtinių interesų vietos turinio. Tai skatina nevienodą reglamento nuostatų, susijusių su teismo jurisdikcija iškelti skolininkui pagrindinę bankroto bylą, aiškinimą ir taikymą Europos Sąjungos valstybėse narėse. Jurisdikcijų kolizijos problema reglamente sprendžiama įtvirtinant pirmumo taisyklę, pagal kurią sprendimas iškelti bankroto bylą turi būti automatiškai pripažįstamas visose kitose valstybėse narėse nuo tada, kai sprendimas įsiteisėja bankroto bylą iškėlusio teismo valstybėje narėje. Darbe aptariamos palankesnės teisinės padėties ieškojimo galimybės. Autorius daro išvadą, jog pasirinktu reguliavimu vienas iš reglamento tikslų – panaikinti tiesines prielaidas palankesnės teisinės padėties ieškojimui perkeliant turtą ar teismo procesą iš vienos valstybės narės į kitą – nėra iki galo pasiektas. Šią prielaidą lemia dvi... [toliau žr. visą tekstą]
Council Regulation 1346/2000 on Insolvency Proceedings is the outcome of forty years of efforts to harmonize the rules regarding the jurisdictional issues on cross-border insolvency in the context of European Union. By combining the two models of international insolvency proceedings – universality and territoriality – the Regulation provides different jurisdictional rules on cross-border insolvency proceedings depending on whether the main insolvency proceedings or the secondary insolvency proceedings are going to be opened. The Master thesis deals with the content of the category determining the jurisdiction to open the main insolvency proceedings, i.e. the centre of main interests. As a result the Thesis concludes that the Regulation does not provide the explicit content of the centre of main interests’ category. Therefore it encourages the different interpretation and application of Regulation’s provisions related to the opening the main insolvency proceedings by the courts of Member States. Regulation deals with issue regarding the jurisdictional conflicts by determining the priority rule under which the judgment opening the insolvency proceeding should be automatically recognized in all other Member States from the time that it becomes effective in the State of the opening of proceedings. Master thesis deals with the issues regarding the seeking to obtain a more favorable legal position (forum shopping). The Author concludes that on of the main aims of this Regulation –... [to full text]

This thesis deals with the special category of crimes related to the bankruptcy of the debtor and to the insolvency proceedings. The first and second parts of the thesis are devoted to the general introduction into the both law branches, i. e. into the insolvency law and criminal law. The third part of the thesis focuses on interconnection of the mentioned law branches reflected in the category designed as insolvency crimes. The thesis analyses particular crimes utilizing the legal acts, technical literature and judicature. The fourth part handles the available statistical data regarding the insolvency criminality provided by the Czech Police. At last the thesis evaluates the social harmfulness of the insolvency crimes, its legal regulation and the protection against it.

L’extension de la procédure collective pour confusion des patrimoines permet de soumettre une pluralité de débiteurs à une unique procédure collective. Les récentes réformes ont profondément modifié la nature de ce mécanisme : longtemps perçu comme une véritable sanction, ce dernier tend de plus en plus à être utilisé comme un simple outil de restructuration, voire de protection. Ses effets autrefois redoutés sont aujourd’hui recherchés. La thèse révèle la complémentarité de ces derniers dans le traitement des situations de confusion des patrimoines et propose plusieurs solutions permettant d’assurer leur prévisibilité. Elle suggère également plusieurs pistes de réflexion permettant de mettre en adéquation les cas de recours au mécanisme à la nature particulièrement originale des effets produits par ce dernier
Extending a collective insolvency procedure in the case of estate compels a number of debtors to comply with a unique collective procedure. Recent reforms have deeply modified the nature of this mechanism: for a long time perceived as a sanction, it is now used as a simple tool for restructuring, and to an extent a tool for protection. Its consequences were once dreaded, whereas now they are coveted. This thesis enhances the complementarity that exists between the latter when dealing with situations of estate confusion and offers several solutions enabling foreseeability. Furthermore, it opens up to several lines of thoughts that can correlate cases when resorting to this mechanism to the particularly original effects generated by the latter

Bankroto procesas - atskira civilinio proceso rūšis, pasižyminti dalyko, proceso dalyvių, bylos nagrinėjimo stadijų specifika bei išskirtiniais tikslais. Lietuvos Respublikos teisės aktais reglamentuojamo bankroto proceso pagrindinis tikslas yra likvidacinis, t.y. nukreiptumas į įmonės teisinę pabaigą. Darbe analizuojami bankroto procesą Lietuvos Respublikoje reglamentuojantys teisės aktai bei jų taikymo (t.y. teisminė) praktika, keliant ir nagrinėjant bankroto bylas, tuo pačiu, darbe atliekama Lietuvos Respublikos ir užsienio valstybių bankroto procesą reguliuojančių teisės aktų lyginamoji analizė aktualiais klausimais, siekiant nustatyti bankroto proceso Lietuvos Respublikoje tikslus, teisinio reglamentavo spragas, teismų praktikos klaidas bei pasiūlyti galimus minėtų probleminių klausimų sprendimus.
The process of bankruptcy is the separate part of the civil process, and is distinguished by an object’, the process participants’, the case hearing stages’ particularity and by the exceptional purposes. In the Republic of Lithuania, the main purpose of the process of bankruptcy is liquidation, i.e., direction to the legal end of the enterprise. In the scientific work, there is presented analysis of the laws, which are regulating the process of bankruptcy in the Republic of Lithuania, and their application in the judicial practice, when bankruptcy cases are heard, also, is fulfilled the comparative analysis on the urgent questions of the laws, which regulate the process of bankruptcy in the Republic of Lithuania and in the foreign countries, having an aim to define the purposes of the process of bankruptcy in Lithuania, the gaps of legal regulation, the mistakes of judicial practice, and to offer possible solutions of the above-mentioned problem matters.

This diploma thesis deals with issues of the insolvency proceedings with further focus on methods of valuation of assets and creditor's claims. The thesis defines the basic terms of insolvency law and outlines the insolvency procedure. The following parts describe the basic principles of valuation in accounting and business valuation methods. The practical part deals with the analysis of the specific insolvency proceedings against NERIA a.s., focusing on the assets and its valuation.

The work "Financial Analysis of companies undergoing bankruptcy later" deals with the issue of bankruptcy debtor. It analyzes the situation where the company gets into financial distress and financial analysis examines indicators that best represent the financial situation and the impending decline. It continous with bankruptcy and insolvency of the debtor, and these two parts solves from both a legal and from an accounting perspective. Both parts are supplemented by short illustrative examples, which should help clarify emerging issues. In the practical part a three companies were selected, which are currently in bankruptcy proceedings. In these were applied selected indicators from the first chapter and last part describes various bankruptcy proceedings.

The aim of this thesis is to analyze the process of reorganization under the US laws and accounting standards. The first chapter contains legislation, description of the parties and their role during the insolvency proceedings. It covers the role of the debtor, creditors, creditors' committee, insolvency trustee and insolvency court throughout the insolvency proceedings. The second part focuses on accounting under US GAAP based primarily on the ASC 852, which describes in detail the cases and items that are treated differently during the reorganization. The third part includes legal and accounting analysis of the American paper company NewPage Holdings Inc., which successfully emerged from bancruptcy in 2012.

This diploma thesis deals with the insolvency administrator. The objects of this work are mainly are the duties that insolvency administrator has to execute during the insolvency proceeding and the necessary requirements for the performance of the insolvency administrator's function. The objective of this work is to clarify the role of insolvency administrator in the particular phases of insolvency proceedings in general terms and the definition of his position and responsibilities in different types of insolvency proceedings. The aim of this work is also to analyze the assumptions that insolvency administrator must meet in order to obtain permission to perform the function of the insolvency administrator.

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.

La thèse a pour objet de traiter la rencontre entre l’arbitrage et les procédures collectives. Elle s’ordonne autour d’un triple constat. Dans un premier temps, marquée par un fort impérialisme, des considérations d’ordre public, l’ouverture d’une procédure collective n’est pas sans incidence sur les instances arbitrales en cours et sur les instances arbitrales qui n’ont pas encore débuté. L’ordre public des procédures collectives a un impact tant sur le déroulement de l’instance arbitrale que sur l’issue de la sentence arbitrale. Ensuite, l’arbitrage marqué à l’opposé par la volonté des parties, la liberté contractuelle, survit en dépit de l’ouverture d’une procédure collective. En effet, l’ordre public des procédures ne suffit pas à exclure l’arbitrage. La compétence de l’arbitre est maintenue pour tous les litiges qui ne sont pas nés de la procédure collective et sur lesquels celle-ci n’exerce pas une influence juridique. Enfin, persiste lors de la rencontre entre l’arbitrage et les procédures collectives, un contentieux post-arbitral
The purpose of the thesis is to deal with the meeting between arbitration and collective proceedings. It is organized around a triple statement. At first, marked by a strong imperialism, considerations of public order, the opening of a collective procedure is not without incidence on the arbitration bodies in course and on the arbitration bodies which have not yet started . The public order of collective proceedings has an impact both on the conduct of the arbitral proceedings and on the outcome of the arbitral award.Secondly, arbitration, which is marked by the will of the parties, contractual freedom, survives despite the opening of a collective proceeding. Indeed, the public order of the collective proceedings is not sufficient to exclude arbitration. The arbitrator's jurisdiction is upheld for all disputes that are not born of the collective proceeding and over which the latter has no legal influence. Lastly, persists during the meeting between arbitration and collective proceeding, a post-arbitration litigation

The Diploma thesis deals with a period of a glass company which had to declare an insolvency proceedings and consequently went into bankruptcy. The aim of the thesis is to determine the financial situation of the company before its collapse by using a financial analysis. The work contains causes and resulting consequences of this situation and the insolvency proceedings process.

A l’heure de la mondialisation et de la croissance permanente des échanges entre les Etats, la question de la faillite internationale est devenue une problématique de choix, au coeur d’un système aux multiples défaillances. Le jeu du marché ne s’opère plus au regard d’un territoire et d’un Etat, mais véritablement au regard d’un espace économique qui dépasse largement les frontières de la France. Le règlement communautaire 1346/2000 relatif aux procédures d'insolvabilité, entré en vigueur le 31 mai 2002, est un premier aboutissement en la matière au niveau de l’Union européenne. Il appréhende l’insolvabilité transfrontière en réussissant à articuler procédure universelle et procédure territoriale et en liant la compétence juridictionnelle au droit substantiel applicable. La lex fori concursus , à portée universelle, est désignée par le seul critère de compétence applicable pour l'ouverture de la procédure principale d'insolvabilité : le centre des intérêts principaux du débiteur. Notion autonome et incontestablement centrale, elle ne bénéficie pas d'une définition établie. Présumée coïncider avec le siège statutaire pour le débiteur personne morale, l'acception de la notion de centre des intérêts principaux s'est faite de manière prétorienne au fil des années. A l’heure de la révision du Règlement, sa définition n'est toujours pas inscrite à l'article 2 du règlement 1346/2000. Néanmoins, cela s'avère être un avantage lorsque l'on se positionne dans une logique de dimension internationale, dans laquelle le concept de centre des intérêts principaux tend également à s'inscrire
In the era of globalisation and permanent growth of trade between States, the matter of cross-border insolvency has become an issue of choices at the heart of a system that shows multiple failures. The market rules are no longer governed by a territory or a State, but truly by an economic area that extends far beyond the borders of France. The EC regulation 1346/2000 on insolvency proceedings that came into effect on the 31st of May, 2002 is the first achievement on this matter for the European Union. It apprehends cross-border insolvency while successfully articulating both the universal and territorial proceedings as well as binding jurisdiction with the applicable substantive law. The lex fori concursus with its universal scope is designated by the sole criterion of applicable jurisdiction for initiating the main procedure of insolvency: the debtor's centre of main interests. As an autonomous and undeniably central concept, it has no settled definition. The understanding of the centre of main interests concept which supposedly coincides with the registered office for the legal person debtor, has been put in the hands of Court over the years. Such definition is still not covered in Article 2 of the 1346/2000 regulation. However, this turns out to be an advantage on an international dimension when the concept of centre of main interests tends also to be considered on a world-wide basis

This thesis deals with financial analysis of two chosen companies 5 years before decision on bankruptcy and two years after this decision. The thesis is splitted into two parts: theoretical part and practical part. Theoretical part deals with the definition of the issues of insolvency firstly from point of view of law, secondly from the accounting perspective. Further definition of financial analysis, evaluation of the use of financial ratios. The theoretical part also explains the IN bankruptcy model. The practical part concentrates on selection of two concrete companies and performing the financial analysis. A period of 7 years was chosen - 5 years before decision on bankruptcy and two years after this decision. Insolvency was solved by reorganization or bankruptcy. Practical part imply the IN bankruptcy model. At the end is a comparison of the results, which is then interpreted.

碩士
東吳大學
法律學系
104
There are different types of interests, whether the public interests or the private interests, come together at insolvency proceedings. In order to solve the conflict, the bankruptcy law shall be measured by a variety of interests and priorities to make a choice. This article will introduces the interests involved in the insolvency proceedings, methods to measure the benefit, the legislative principles and the rule of law policy. And then, this article will classify the system or event which is involving interests balance in insolvency proceedings, and analysis based on current bankruptcy law, consumer insolvency law, judicial decisions, draft law, foreign legislation and so on. In the part of selecting proceedings is not a conflict of interest, but a neutrality benefit type. The applicant choose the most appropriate procedure at will, and for the balance of the applicant abuse of rights, thus have compulsory process for conversion provisions. But in the practical operation of the bankruptcy case, because of exemption, the court strictly limit the opening of insolvency proceeding. And consumer insolvency operation, due to the rehabilitation get a higher proportion of the exemption ruling, which led to the number of applications is higher than the liquidation. In the type of private interest conflict and the creditor take precedence, mainly reflected in confirmation of property of estate of debtor and preservation of the debtor's assets. Property of estate is debtor's liability basis, so how to ensure the debtor’s right to living and the maximum repayments is the main issue. And in the part of the debtor's property preservation, not only the conflict between the private interests of the debtor and the creditor, but also relates to the security of transactions which is thought of public interest. For revocation system, is the best weapon to prevent debtor selling off property, but at the same time also a change in the existing state of the transaction, thereby affecting the public interest. And in the type of private interests conflict, priority to the protection of the debtor which mainly show in debtor exemption. Current bankruptcy law adopt disclaimer of course, if the debtor fulfill all insolvency proceedings, regardless of the amount of repayment. But in the consumer insolvency proceeding and the draft have been changed to adopt exemption ruling, the court have to review whether the debtor exempt or not. In the type of private interest and public interest conflict, which show in distribution of debtor’s assets. There are necessary fee for the operation of insolvency proceedings which was for the overall interests of the creditor, thus the fee should be paid first.

1 Filing claims in insolvency proceedings Abstract The topic of this master's thesis is the issue of filing claims in the Czech insolvency proceedings, especially the lodging of claims but also other ways of filing claims. Furthermore, the thesis deals with the legal regulation of lodging claims in European insolvency law. Finally, the subject of the thesis is the evaluation of the position of creditors and debtors in insolvency proceedings with a detail on discharge of debt. The aim of this thesis is to comprehensively elaborate on the issue using the Czech legislation and the European Union legislation. To deepen the legal analysis of the filing of claims the author uses already established court practice and other case law conclusions of higher courts, as well as professional literature. In addition to the descriptive method of defining the issue, the author also applies her own evaluating conclusions and considerations and uses the experience gained from her insolvency practice. The author describes the system of lodging claims including the analysis of the deadline for lodging claims and disputes arising from this regulation and further deals in detail with the lodgement form, its submission and the creditor's responsibility for the correctness of the lodgement. The author characterizes specially...

This paper examines determinants of creditors' claims satisfaction in insolvency proceedings in the Czech Republic. To our knowledge, it is the first research to such extent in the Czech Republic covering this field. Combining microdata from Insolvency Register, Business Register, Ministry of Finance and other sources, we construct a unique dataset of more than 2,600 cases. We identify several basic determinants of satisfaction: a higher share of secured claims, real estate and cash in assets of a company, submission of financial statements into Business Register, selling the business as a whole within the proceedings, and entrepreneur cases. We find no such effect for the audit of financial statements or for the age of a company. Moreover, we search for other indicators that may result in the lower satisfaction of claims, out of which five are statistically significant: a homeless person in statutory body, registered office at a firm nest, being listed as unreliable VAT payer, a connection to persons that have multiple records in Insolvency Register and a substantial increase in depreciation in the period between the last two submitted financial statements. In contradiction to the bankruptcy prediction literature, we show that the financial data are unreliable for predicting the outcome of insolvency...

The abstract Position on insolvency administrator under insolvency law This thesis describes the insolvency proceedings in view of the insolvency administrator. It deals not only with the position of the insolvency administrator in already running insolvency proceedings but also the prerequisites that must be met in order to become an insolvency administrator at all. It is processed with regard to the importance of the amendments to the act of the year 2013. Due to the financial crisis and growing indebtedness of population it is a very actual subject, which applies to almost all of us. The thesis is divided into six main chapters. The first is devoted to the person of the insolvency administrator with detailed terms and conditions for the emergence of the processed function relating in particular to integrity and tests and to the types of terminativ of their activities. The second chapter discusses the performance of the function with an emphasis to the appointment, amendment, withdrawal, exclusion and exemption from the function. The various types of insolvency administrators are discussed in chapter three. The largest chapter is the fourth one. This chapter discusses the General rights and obligationsc at first, which are common for all the types of resolving insolvency and it is followed by the second...

碩士
國立中正大學
財經法律學研究所
100
In recent years, due to the frequent occurrence of the financial crisis, the worlds realize that the integrity of the bankruptcy legal system is a key link in the financial reform and the economic stability. In the bankruptcy law of Taiwan, the amendment of bankruptcy law and the announcement of the draft of insolvency law, cooperate with the internationals trend and the social change, are the important indicator in the financial reform. Furthermore, it’s the core of the reform to complete the corporate insolvency procedures. In the corporate insolvency proceeding, besides implementing the preservation of debtor's property has to ensure the creditor to obtain the fair defray, chasing the directors and supervisors' responsibility in bankruptcy proceeding is also the focus of amending of the corporate insolvency proceeding. For this issue, it is divided into proceeding and substance way: In proceeding way, did the director have a duty and liability to creditors, when the company is insolvent or in the zone of insolvency? In the substance way, there are two provisions: the draft of insolvency law (article 174) with filling system and the civil code (article 35) impose a compulsory insolvency filling obligation on the corporate director, comparing the above, which one could achieve the purpose of carrying out obligation and examining responsibility of the director? For the above, this thesis start from the insight of directors' fiduciary duty. Besides the provisions of law of Taiwan, it also focus on the basic type of the theory of the directors duty. Moreover, this thesis also comparison and analysis each provision, which chases the responsibility in corporate bankruptcy proceedings with its characteristic and appropriateness in Taiwan’s law, of directors and supervisors. Throughout the above discussion, this thesis will reveal some thinking view to impetus the complete of Insolvency Law and increase the appropriateness of fiduciary duty, in the bankruptcy proceedings of directors and supervisors in Taiwan Law.

LL.M. (Commercial Law)
When a debtor runs into financial problems and starts neglecting to satisfy his financial obligations as and when they fall due, there are various statutory procedures or remedies available to both the debtor and his creditor(s). The first and most obvious remedy available to the creditor is to demand the satisfaction of the outstanding claim by the issuance of a letter of demand, followed by a summons and subsequent court proceedings in which the creditor will claim what is due to him. If the debtor still neglects to satisfy the judgement debt, the creditor may proceed to have the judgement enforced by means of a warrant of execution in terms of which the debtor’s property will be attached and be sold at a public auction. Another procedure that is available is for either party to apply for a sequestration order in terms of the Insolvency Act.3 The Insolvency Act provides for two ways in which a debtor’s estate may be sequestrated. These two ways have their own separate requirements. The two ways are: 1. Voluntary surrender; and 2. Compulsory sequestration.

The main goal of this thesis called "The institute of administration in Czech and English law and its application in practice" is to provide an overview of insolvency administration, its regulation and practical application in the Czech Republic and in England, to verify the hypothesis that administration, as a rescue solution for insolvency of companies, is, in comparison with the situation in England, being used insufficiently in the Czech Republic and its success rate is also low, as well as concluding, what is the reason of this situation. This goal has been fulfilled in four chapters. The first chapter contains the general definition of administration, its position in the system of insolvency law as well as an overview of its historical development. In the second chapter is described the practical usage of this legal institute in the Czech Republic, and this is done through an analysis of applicable law regarding administration but also insolvency proceedings as a whole, as well as analysis of available data regarding the application of administration, probability of its usage as well as positive outcome, in practice. The same is done for England in the third chapter, so the hypothesis can be validated and its causes analysed in the fourth chapter. As a result, the hypothesis has been proven....

Insolvency administrator and his role in insolvency proceedings Abstract The thesis deals with the professional requirements for an insolvency administrator and his status and activities in the insolvency proceedings. Considering the frequent amendments of the legislation regulating insolvency proceedings, including the rights and obligations of the insolvency administrator, this is a particularly relevant topic. The aim of the thesis is to provide a comprehensive overview of the conditions which must be met to become an insolvency administrator, what role the insolvency administrator performs in insolvency proceedings and what are his most important rights and obligations. The thesis is divided into six chapters. The first chapter deals with legal regulations governing the status and activities of the insolvency administrator and includes, in particular, two fundamental acts and their implementing decrees. The second chapter addresses the person of the insolvency administrator from a professional perspective, that is to say, what are the preconditions for obtaining permission to practise as an insolvency administrator and under what conditions the authorisation to practise ceases. Furthermore, the chapter covers the area of the list of insolvency administrators and the way in which insolvency...

The purpose of insolvency proceedings in case of bankruptcy is to find out registered proof of dept and its subsequent relative satisfaction from the proceeds of the realization of estate. The main activities of the insolvency practitioner in the performance of his function is to review the filed claims of creditors, the findings of the estate and its subsequent inventory, management and sale. Position of the insolvency practitioner in the insolvency proceedings is a complicated issue, which is in our legal environment little discussed by legal theorists and it is necessary in many cases work solely on the insolvency practice. The aim of the thesis is to evaluate the current legislation regarding the insolvency practitioner and his role in insolvency proceedings with respect to the professional literature, the applicable legislation and case law. The thesis also shows the complexity of the position of the insolvency practitioner. At the beginning of the second chapter is given a definition of procedural subjects in insolvency proceedings and theoretical understanding of the function of the insolvency practitioner. The second chapter describes the particular position of the insolvency practitioner, on the basis of its relations with other procedural subjects. The third chapter specifies the basic...

Rights and duties of the insolvency trustee in bankruptcy The topic of this Master's thesis is rights and duties of the insolvency trustee in bankruptcy. The aim of the thesis is to describe activities of insolvency trustee that are related to the solution of debtor's decline by bankruptcy. The insolvency trustee is an important subject of insolvency proceedings; in the case of bankruptcy his task is primarily related to activities associated with the estate, with its liquidation and distribution of proceeds. First chapter focuses on insolvency proceedings in general. First part deals with historical context; second part analyzes the process of insolvency proceedings with a respect to different ways of resolving the debtor's decline - reorganization, discharge from debts and specific ways (i.e. a slight decline and the bankruptcy of financial institutions). In the next chapter, the bankruptcy is discussed as another way how to solve the debtor's decline, regarding to the subject of the thesis. The third chapter is divided to two sections. The first analyzes the term "insolvency trustee" and also defines specific types of this subject of insolvency proceedings. Individual subsections focus on the each specific type. The second section deals with responsibility of insolvency trustee. The last and...

The theme of my graduation thesis is "The Status of Bankruptcy Creditors in Insolvency Proceedings according to the Act No. 182/2006 Coll., (The Insolvency Act)". The purpose of my thesis is to provide a comprehensive analysis aimed at creditor's rights and duties during insolvency proceedings, with a special attention focused on selected topics. One of my goals is to highlight the big progress of creditors achieved with the new legal regulation. I also concern myself with those provisions of The Insolvency Act, which from my perspective offer an ambiguous interpretation. Therefore application of these provisions may cause problematic situation difficult to be resolved. The thesis is structured into seven chapters. The first two parts are dedicated to a general introduction to the insolvency law with an accent to basic legal principles and institutes of insolvency proceedings. We find there also a brief historical overview of insolvency in Czech Republic as well as general aspects of replacing The Act No. 328/1991 Coll., on bankruptcy and settlement (The Bankruptcy and Settlement Act) with a new Insolvency Act. In Chapter 3, I describe the basic creditor's instruments they can use in order to impact the effectiveness of their claims satisfaction mentioning also one of the bankruptcy conditions which is the...

The main objective of this thesis is to provide a comprehensive description and an analysis of a remediation solution in the insolvency proceedings, the reorganization under the Czech law and a comparison with French applicable law of restructuring. Act. No. 182/2006 Sb., hereinafter called as Insolvency Act, became effective on January, 1st 2008. After economic crisis between the years 2007 and 2009 was proved the urgency to modify an unsuitable and outdated Czech law from 1991. Insolvency act brought many new institutes mainly to the Czech procedural law and finally it set up new methods for insolvency non-liquidation resolution - reorganization. Institute of reorganization utilizes varying restructuring methods principally intended for large businesses that fulfill the conditions of the reorganization proceedings. The thesis is divided into twelve chapters. First eight chapters are providing the reader with fundamental elements of insolvency proceedings that are necessary for the overview of the reorganization proceedings. These chapters are further divided into smaller parts covering the description of the historical development, explanation of bankruptcy, parties to the insolvency proceedings, insolvency petition, automatic stay and insolvency estate. The most important part of this thesis the ninth...

1 Legal possition of the insolvency administrator in debt reliéf Abstract An insolvency administrator has an irreplaceable role in the insolvency proceedings. He isn'n an lawyer of debtor or creditors. However, he has to defend a legal interests both of them and to direct insolvency proceedings in such a way that its purpose is fulfilled. The purpose of the insolvency proceedings is to achieve the greatest satisfaction of creditors without any unjustly harmed or unlawfully favored party. The aim of this diploma thesis called "Legal possition of the insolvency administrator in debt relief" is to comprehensively analyze the insolvency administrator's procedure, its role and activity in debt relief. The secondary subject of the thesis is the evaluation of the debt relief legislation, which was substantially amended by an amendment No. 31/2019 Sb. Text of the thesis is divided into two parts, theoretical and practical. Initial part is divided into four chapters, in which the characteristics of the insolvency administrator, including his position towards other entities in insolvency proceedings. The second and third chapters specify the process of issuing the insolvency administrator's license, including the conditions they must fulfill in order to be authorized. The fourth chapter gives the reader insight into...

The goal of this thesis is to explain the conception of the insolvency petition and to solve issues arising from the misuse of the insolvency petition including the motivation to file such an unlawful claim. Under the Czech law, the Insolvency petition is an important part of the insolvency proceedings that are initiated at the moment when an insolvency court receives the insolvency petition. Particular legal requirements of the insolvency petition, which would be able to initiate demanded consequences, were analysed step by step in this thesis too. Differences between the situations when the insolvency proceedings were initiated by the creditor or by the debtor were also specified. Significant part of this thesis deals with matters relating to the misuse of the insolvency petition. The overview of the principle of misuse of law in civil law was given at the beginning of this part. One of the objects of the chapter was also to determine the motivation to submit an unlawful insolvency petition as well as the characteristics of this illegal claim. Subsequently, the possibilities of defense against the unlawful insolvency petition were stated. Some of these defence mechanisms are explicitly mentioned in the Act No. 182/2006 Coll., on Insolvency and methods of its Resolution (Insolvency Act), the rest...

This thesis focuses primarily on the field of European cross-border insolvency law, currently represented by the EU Regulation on Insolvency Proceedings (EC No 1346/2000). The EU Regulation considered theoretical conflict between advocates of universalism and territorialism, and is generally regarded as reflecting it in a way of modification, which is represented by distinction between main and ancillary insolvency proceedings. Determination of international jurisdiction in the main insolvency proceedings is inherently linked with the criteria of the centre of main interests (COMI), which serves as a specific connecting factor to constitute both the court with jurisdiction and applicable law, for the purpose of the whole insolvency process in accordance with the principle lex fori concursus. The COMI concept is the root of the jurisdiction trouble, thus this thesis aims at providing substantial information on the concept, since the EU Regulation neglects its proper introduction. One of many issues related to COMI conception is a phenomenon of forum shopping, term used to describe situations when debtors manipulate with facts relevant for establishing jurisdiction, in order to obtain more favourable position, usually at creditors' expense. The thesis also deals with another important initiative in...

Assets in Insolvency Proceedings Abstract The diploma thesis provides comprehensive analysis of an institute of assets in insolvency proceedings. The first chapter focuses on a definition of assets aiming at importance of the institute in the current legal system in the Czech Republic. The second chapter analyses an extent of assets and institutes of invalidity and ineffectiveness of legal actions in insolvency proceedings including an analysis of provisions related to defence indictment. In addition to positive and negative determination of a content of assets and detailed description of the relevant assets, a description of a mutual relation of insolvency and execution proceedings is a part of the third chapter. Subsequently, the fourth chapter deals with assets determination procedure aiming at an obligation of a debtor or persons acting on behalf of a debtor as well as the third persons and public authorities to provide an insolvency administrator with cooperation. The fifth chapter concerns obligations of an insolvency administrator relating to an inventory of assets and conditions under which seeking exclusion and exemption from assets may be achieved. The sixth chapter analyses a legislation related to disposition over assets including an administration of assets and determination of a person with...

The subject of this thesis is the institute of assets, one of the fundamental legal institutes of insolvency proceedings, which plays an absolutely crucial role in the process of solving the debtor's bankruptcy and the satisfaction of the debtor's creditors. The purpose of this thesis is not to cover the legal institute of assets in all its breadth, but to try to present the legislation on assets and important legal institutes related to it in the Insolvency Act in context of insolvency proceedings. Furthermore, this thesis works with the conclusions of the judicial practice of insolvency courts, presents thoughts on the current state of the Insolvency Act and defines certain areas, in which amendments to the Insolvency Act should occur in the future. This work is divided into nine chapters with regard to the legal provisions of the Insolvency Act governing the institute of assets. After a brief introduction the first chapter deals with the historical development of insolvency law, the Insolvency Act and the definition of assets. The second and third chapters are focused on the extent and content of the debtor's assets in insolvency proceedings, including related institutes of invalidity and ineffectiveness of legal actions. The fourth chapter defines the process of identifying assets and the rights...

v anglickém jazyce This diploma thesis main objective is to analyse those parts of the Czech insolvency law dealing with the assets and at the same time to define all related terms. The partial objective of the thesis is to identify the 2006 Insolvency Act provisions relating to the assets which appear to be inadequate and to propose possible legislative changes. The objective of the thesis was fulfilled. An analysis of the key provisions of the Insolvency Act dealing with the assets was carried out and all of the important terms were defined. As the author of the thesis concludes that the current legislation is rather efficient, he suggests only some partial changes, such as the extension of the time limit, during which the former members of the management of the debtor - legal entity are obliged to cooperate with the insolvency trustee. Regarding its systematics, the thesis is divided into seven chapters, most of which are subdivided into subchapters. The first chapter deals with the historical development of insolvency law in the territory of today's Czech Republic. It maps the legal regulations from the 18th century to the present, with the greatest attention being paid to the current insolvencylaw and explaining its most significant recent amendments. The definition of assets in the Czech and...

Defence date: 30 August 2004
Examining board: Prof. Christian Joerges (supervisor), European University Institute ; Prof. Ian F. Fletcher, University College London ; Prof. Marie-Ange Moreau, European University Institute ; Prof. Peter von Wilmowsky, University of Erfurt
PDF of thesis uploaded from the Library digitised archive of EUI PhD theses completed between 2013 and 2017
This dissertation presents a comprehensive analysis of the regulation of cross-border insolvencies in Europe. Council Regulation 1346/2000 on Insolvency Proceedings forms the natural focal point of such a study. However, while this book explores in detail the background, legal basis as well as the substance of the Regulation, it also contains an examination of the Regulation from two wider perspectives: that of international cross-border insolvency regulation and Community law. The approach adopted by the Regulation to the problems raised by cross-border insolvency forms part of a paradigmatic shift at the global level. The ‘struggle over jurisdiction’ - the natural state of affairs under the old principles of ‘universality & territoriality’ – is increasingly being replaced by co-operation between the jurisdictions involved. The Regulation must be understood against the backdrop of these new cooperative approaches, including the UNCITRAL Model Law and ancillary proceedings. Doing so, this dissertation argues that the co-operative framework of the Regulation is limited and may ultimately not suffice to realise the efficient and effective cross-border proceedings it is aiming for. Although the Regulation is an exponent of this global shift towards cooperation, the legal context in which it operates is nevertheless very different. Community law, as an autonomous legal order, has limited the private international law autonomy of Member States and generated a comitas Europaea. This dissertation argues that Community law and its comitas must be taken seriously. They are an important source of principles to guide courts in the interpretation and application of the Regulation and may reinforce and expand the co-operative mechanisms of the Regulation.