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The quality of insolvency law in the market economy of the Czech Republic
FOLVARČÍKOVÁ, Nikola
The topic of this thesis is the quality of insolvency law in the market economy of the Czech Republic. The aim of the thesis is outlining the course of the insolvency proceedings and introducing basic ways of resolving bankruptcy of a debtor, which means declaring bankruptcy, the discharge of the debt and reorganization. The work focuses in more detail on problems of the discharge of the debt. The main aim of this work is calculating an average amount of satisfaction of unsecured creditors in case of resolving bankruptcy by declaring bankruptcy, reorganization, or the discharge of the debt on the ground of data from the insolvency register which is accessible to the public. There were used samples of proceedings at the Regional court in České Budějovice (hereinafter referred to as "the Regional court in ČB"). The data were subsequently compared with an amount of satisfaction according to statistics. The representative sample consists of the finished insolvency proceedings in the first trimester of years 2011 2015 at the Regional court in ČB.
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Reorganization as a way of resolving insolvency
Ulrychová, Petra ; Kislingerová, Eva (advisor) ; Smrčka, Luboš (referee)
The aim of this thesis is the definition of reorganization as a way of resolving insolvency in the Czech Republic according to the Act no. 182/2006, about bankruptcy and its solution (Insolvency Act). Theoretical and practical part is divided into basic thematic and logically interrelated units that provide a comprehensive description and information relating to the characteristics of basic terms, a description of the insolvency proceedings, the definition of reorganization, the establishment and implementation of the reorganization plan and the application of reorganization on the company Pilsen Steel s.r.o. The work is divided into theoretical and practical part. Descriptive and analytical methods are used to meet the objective of the thesis.
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Aspects of the crisis management in the restoration process of MSV Metal Studenka, a.s.
Bejček, Martin ; Schönfeld, Jaroslav (advisor) ; Smrčka, Luboš (referee)
The thesis focuses on the insolvency proceedings, which were performed in the company MSV Metal Studénka, as a traditional Czech manufacturing company, which is engaged in the manufacturing of products for the railway, construction and automotive industries. The company got into insolvency in response to the economic crisis that hit the entire Euro-Atlantic region in 2008. Moreover, in 2008, the new Insolvency Act entered into force, it introduced new options how to solve bankruptcy in the Czech law, including a company reorganization controlled by its creditors. The thesis identifies and analyzes the main steps in the restoration process made by the crisis management, examines whether insolvency could be predicted even before the crisis, and compares the satisfaction of creditor groups in insolvency proceedings with the market average.
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Comparison of creditor and debtor reorganization
Čermáková, Radka ; Schönfeld, Jaroslav (advisor) ; Smrčka, Luboš (referee)
This diploma thesis deals with resolving bankruptcy by reorganization with emphasis on partition on creditor and debtor reorganization. In theoretical part, there are explained basic concepts and ways of bankruptcy resolving according to the Insolvency Act effective from 2008. In practical part of this thesis, there are performed four examples of creditor and debtor reorganizations. As examples of debtor reorganization were chosen cases of Technistone, a.s. and Starorolský porcelán Moritz Zdekauer, a.s.. As examples of creditor reorganization are performed cases of MSV Metal Studénka, a.s. and Oděvní podnik, a.s.. All these cases are clearly described and timelines of each case are performed. In the end of this thesis there is made comparison of these cases.
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Reorganization
Linert, Jiří ; Moravec, Tomáš (advisor) ; Valenta, Petr (referee)
Thesis deals with reorganization. The goal is to identify its weaknesess as a form of bankrupcy solution, factors impending wider usage and suggest improvements. The first chapter is devoted to the legislation of reorganization effective from the 1st January of 2014 with reference to the changes brought by it. The second chapter aims to map existing practice. Thus, what is the position of reorganization as a form of bankrupcy solution. The initial impact of the amendment to the Insolvency Act will be evaluated on a basis of available statistics. The most important findings are summarized in the conclusion.
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Reorganization of company Technistone, a.s.
Zimová, Veronika ; Schönfeld, Jaroslav (advisor) ; Smrčka, Luboš (referee)
The reorganization process, which was introduced in 2008 under the Insolvency Act, is a relatively new element in our legal system. In insolvency law it represents the financial rehabilitation principle in solving the problem of corporate insolvency. This thesis deals with the specific case of reorganization of a company Technistone, a.s., the only manufacturer of engineered stone in Central Europe. I consider this topic highly relevant, since the advent of the global economic crisis of recent years, many companies faced a similar crisis as Technistone, a.s..
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Analysis of reorganizations in Czech republic
Rakytová, Tatiana ; Schönfeld, Jaroslav (advisor) ; Smrčka, Luboš (referee)
The main objective of this work, except for clarifying the legislation which defines the process of reorganization under the Czech Insolvency Act 182/2006 as amended, is also to introduce a sample of allowed reorganizations from the perspective of selected economic and non-economic factors. The sample consists of all companies in which reorganization has been authorized by the court from 1.1.2008 to 31.12.2012. The fundamental factors of analysis are causes of default, the processes leading to the approval of reorganization, a way of ensuring operational funding, the duration of the reorganization, the methods of solution, the rate of satisfaction of creditors and others. The methods that were used in the analysis are analytical and descriptive, then evaluation method and comparison. The research was based on publicly available data of the reorganized companies located in the Insolvency register. According to the results it can be generally said that the reorganization is more favorable to creditors than bankruptcy, mainly due to higher rate of speed and satisfaction of creditors. However, the reorganization is not common way of resolving insolvency. For successful completion of the reorganization, directors should start insolvency process at a time when a company is only in a state of imminent bankruptcy. Also, an important aspect is realistic and well-prepared reorganization plan which should be sold to its creditors before deciding on the insolvency by the court. Debtor should have in his mind that just creditors are the crucial factor whether the whole reorganization process will be successful.
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Insolvency Crimes
Valíček, Jan ; Moravec, Tomáš (advisor) ; Grošpic, Pavel (referee)
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.
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Aspects of bankruptcy law in Czech Republic
Erlitz, Jakub ; Smrčka, Luboš (advisor) ; Schönfeld, Jaroslav (referee)
The main goal of this master's thesis is the analysis of benefits of the new legislation Insolveny Act with a focus fulfilling of planned effects and future development. The first chapters of this thesis are focused on the theoretical definition of resolving insolvency in the Insolvency act. The following chapters through analysis of statistical informations approaches the carrying capacity of the insolvency courts during development of bankruptcy law, including the interactions between the variables of the current insolvency proceedings. The last part of thesis assesses the content of the expected effects of Insolvency Act for the period of its effectiveness, pointing to deficiencies incurred and the actual conclusion suggests some recommendations and suggestions for future development.
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Strategic options of distressed companies in the Czech legal environment
Kosovský, Alexander ; Hnilica, Jiří (advisor) ; Krabec, Tomáš (referee)
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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