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Position of creditors in insolvency proceedings
Štefeček, Ondřej ; Zoulík, František (advisor) ; Smolík, Petr (referee)
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...
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Discharge of a debtor - one of modes of insolvency solution
Polák, Marek ; Smolík, Petr (advisor) ; Zoulík, František (referee)
The legal enactment No. 182/2006 Sb., Insolvency Act that came into force on January 1st 2008 introduced the new concept of Discharge of Debts in the Czech Law system. This mode of solution is intended solely for non-entrepreneurs (this institute cannot be used for companies or individual entrepreneurs). Personal bankruptcies account for the majority of insolvency proceedings in the territory of the Czech Republic and it can be assumed that this long-lasting trend will continue to grow. The institute of Discharge of Debts gives consumers an effective opportunity to legally get rid of their debts through one of two ways, namely repayment schedule and sale of the debtor's assets, and start again with a clean slate as an active member of the Economic Society. The aim of this thesis is to give a comprehensive analysis of the institute of Discharge of Debts, from defining the causes that lead to bankruptcy, interpretation of basic concepts, to the description of the necessary proceedings leading to the declaration of bankruptcy, process of Discharge of Debts itself and differences of its two basic ways. This theoretical basis is supplemented by my knowledge that I have gained during my internship in a law office, which also performs the function of insolvency trustee. The thesis is composed of eight...
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Discharge of a debtor - one of modes of insolvency solution
Rothová, Kateřina ; Smolík, Petr (advisor) ; Zoulík, František (referee)
Indebtedness of individuals non-entrepreneurs and their subsequent inability to pay their obligations duly and on time was reflected not only in legislation designed to protect consumers but also to law that props up the debtor's financial position and provides him a second chance for a fresh start free of debt. The Insolvency Act passed through development during its efficiency i.e. from 1st August 2008, a considerable development, and according to the number of submitted insolvency proposals it became a legal instrument used by debtors to manage and address solving of their situation. We will be able to assess efficiency of utilisation this notion enabling discharge from debts in the next two or three years, when enough evidence should be available to evaluate the success of approved debt reliefs through the payment schedule. Court decision taking adapted the Insolvency Act also to the possibility of debt relief for spouses who are in most cases engaged in joint commitments under the joint property of spouses. The debt relief for spouses, however, brings a couple of questions and insolvency courts do not approach to proceed it in uniformly way. It is therefore important to prepare major amendment to the Insolvency Act, from which we expect not only the unification of court decisions, as well as...
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Rights and duties of the insolvency trustee in bankruptcy
Zouchová, Barbora ; Pohl, Tomáš (advisor) ; Macková, Alena (referee)
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...
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Position of the creditors in the insolvency proceedings
Bridová, Lenka ; Smolík, Petr (advisor) ; Zoulík, František (referee)
The subject of thesis is "The position of the creditors in the insolvency proceedings". The purpose of my thesis is not only to bring the position of creditors as individuals or as part of the creditor body, but also notice the significant changes which the bankruptcy law was amended. These changes especially strengthened the status of creditors in exercise of claim in insolvency proceedings and in the control of procedure. The thesis is composed of five chapters, each of them are divided to parts, which attend to particular theme. The first chapter is the introduction of its own rules of insolvency law. The second chapter examines the participation of creditors in insolvency proceedings, especially in view of the statutory condition - multiplicity of creditors in the part 2.1. Following the part 2.2 approximates the beginning of the insolvency proceedings then the notice of insolvency proposal. In this chapter also made an excursion to the provisions about the moratorium, which ensures the protection of the debtor. Part 2.3 is concerned with exercise of claims and on the grounds of that with their dividing. Part 2.4 deals with the problem deliberation and negation of claims. The last part 2.5 is address to incidental disputes and incidental action. The third chapter is divided into two parts that...
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Determinants of Claims Satisfaction in Insolvency Proceedings in the Czech Republic
Pařízek, Petr ; Skuhrovec, Jiří (advisor) ; Luňáčková, Petra (referee)
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...
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Insolvency practitioner in case of resolution of the debtor's insolvency by bankruptcy
Hriníková, Eliška ; Smolík, Petr (advisor) ; Winterová, Alena (referee)
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...
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Reorganization as the way of bankruptcy solution
Holevová, Jana ; Pohl, Tomáš (advisor) ; Macková, Alena (referee)
The intention of the thesis, on theme of Reorganization as the way of bankruptcy solution, is to describe this legal institute complexly and coherently. It begins from the history, continues through the current legislation and finishes with a practical point of view to reorganization and its implications in practice. The first chapter describes influences which affected reorganization in the Czech legal environment. First of all, the insolvency law was affected by historical circumstances in the Czech lands and by changes of political regimes to which the legislation was subordinated. Another subsection is addressed to foreign influences which were used as an inspiration for the legislator during creating of the current legislation. Mainly, it is an American and German legislation. In the last subsection, the EU legislation regarding reorganization is elaborated including effects of the harmonization in the Czech Republic. The second chapter of the thesis describes the legislation of reorganization in the Czech Republic and completes it of the case law especially of the High courts in Prague and Olomouc. The institutes are elaborated one by one according to the order made in the Insolvency act and in order which is usually used during insolvency proceedings. The last subsection is focused on a...
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Tax aspects of insolvency proceedings
Fuksová, Jana ; Boháč, Radim (advisor) ; Vybíral, Roman (referee)
124 English abstract This doctoral thesis is apart from the obligatory introduction and conclusion divided into 6 chapters. The thesis focuses the tax aspects of the insolvency proceedings from both the procedural and substantive perspective. From the procedural point of view, the consequences of bankruptcy and ongoing insolvency proceedings are dealt with. Further the topic of recovery of tax debts is discussed. From substantive law areas, the thesis focuses on the taxes that are relevant generally for all taxpayer. The sector specific taxes such as excise duty and environmental taxes are excluded from this thesis. The brief definition of key terms of insolvency proceedings, including the categorization of receivables, is followed by the description of insolvency proceedings and individual methods of resolving bankruptcy. The following four chapters cover the tax aspects of insolvency proceedings itself. The first of them focuses on the procedural aspects. Firstly, the general consequences of a bankruptcy and insolvency proceedings is addressed. Further, the thesis deals with the deadline for extraordinary submission of tax returns that are closely connected to the bankruptcy. Also other tax proceedings instruments influenced by the insolvency are briefly dealt with. Last but not least, this chapter...
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Insolvency proceedings in legal theory and practice
Pirklová, Alžběta ; Pikola, Pavel (advisor)
The thesis aims to map out the legal theory with regard to insolvency proceedings and it´s stages and ways of debt relief, assessing the legal provisions of the insolvency proceedings, findings of statistical details with regard to the start and end and the ongoing insolvency proceedings in Hradec Králové and Pardubice and analysis their results.
This thesis will consist of theoretical and practical parts.
The theoretical part will deal with the theoretical knowledge in insolvency proceedings.
Practical part will be based on my own investigation of indebtedness in Hradec Králové and Pardubice.
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