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Discharge as a form of resolving bankruptcy of individuals
Turková, Eliška ; Pohl, Tomáš (advisor) ; Macková, Alena (referee)
A debtor's discharge can be solved within insolvency by a few forms, where this thesis aims attention to a discharge. The issue is a relatively new institute, which has been incorporated to our system of law by Act No. 182/2006 Coll., the insolvency act. The key theme of this thesis is a complex view of a way to solve an individual's bankruptcy by a discharge, without a focus on businessman or discharge of spouses. We count insolvency among private law for its same principals, however in some cases it is quite different and in its own way unique. Czech legal system knows two types of discharge, a discharge by a realization of an insolvency estate and a discharge by fulfilling a payment schedule with a realization of an insolvency estate. Due to the law, we differ two phases of insolvency. The first one is mutual for all the forms of resolving bankruptcy and includes especially initiation of the process, which can be done only by submitting a proposal (of either a debtor or a creditor), also ruling about bankruptcy and insolvency proposal as itself, and finally submission of applications of creditors' claims, while the second one adjusts forms of resolving bankruptcy. Within a discharge we talk mainly about passing of discharge, performing individual types of discharge, possibly dissolution of...
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Reorganisation and restructuring in Czech and European Law
Pume, Marek ; Sedláček, Miroslav (advisor) ; Smolík, Petr (referee)
Reorganisation and restructuring in Czech and European Law This thesis deals with the Czech and European legal regulation of corporate bankruptcy rehabilitation. In the first part, the Czech variant of reorganisation in insolvency proceedings is analysed and then compared with the German and Dutch legislation. The phases preceding the decision to reorganise a company, such as the court moratorium, the drafting, approval and effects of the reorganisation plan, credit financing and the valuation of the debtor's assets are discussed. In the second part, this paper examines the Restructuring and Insolvency Directive accepted in 2019 by European Union and the reasons for its adoption. It outlines the possible ways of implementing this directive in the Czech legal system and the pitfalls that will have to be dealt with. It also explains the most important institutes introduced by the Directive, such as early warning systems, financing of the debtor and the elements of restructuring plans. Since the Directive has already been transposed into the laws of Germany, Netherlands and Greece, this paper also looks at the form of their arrangements. Finally, these types of corporate recovery solutions are compared, their advantages and disadvantages are presented, and the implications of the new institute of...
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Filing claims in insolvency proceedings
Dvořáková, Tereza ; Pohl, Tomáš (advisor) ; Macková, Alena (referee)
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...
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Transaction Avoidance in Insolvency Proceedings. Comparison of Czech and British Legislation
Mudroch, Luboš ; Zvára, Michael (referee)
THE TITLE OF THE DIPLOMA THESIS AND ABSTRACT TITLE: Transaction Avoidance in Insolvency Proceedings Comparison of Czech and British Legislation ABSTRACT: The general goal of transaction avoidance in insolvency proceedings is to prevent the adverse effects of economic entity's collapse that might be multiplied both by an interest of the collapsing entity to dispose the residual property to connected or associated subjects and by a plurality of creditors with conflicting interests and logical motivation not to be subjected to the mandatory rules of the insolvency proceedings. The current attitude and status of Czech legislation and jurisprudence to transaction avoidance is affected by the fact that within the socialism (and the related decadence of jurisprudence) this legislation could not sufficiently evolve which resulted in a situation that Czech legislation is currently dealing with multiple theoretical and practical deficiencies that neighboring legal systems have dealt with many decades ago. The main goal of this theses is to provide thorough analysis of both Czech and (with regards to the content limit of this theses) also the British legislation and to point out the most crucial deficiencies in Czech legislation and possible inspiration in the British legislation. The theses is divided into four...
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Insolvency of business corporations in the context of European Union and United States law
Šerák, Martin ; Pauknerová, Monika (advisor) ; Rozehnal, Aleš (referee) ; Brodec, Jan (referee)
v anglickém jazyce Despite the market relevance and cross-border operations of numerous credit and other financial institutions, the recent global financial crisis has clearly demonstrated that even the most significant conglomerates of the financial sector are not safe from the threat insolvency. Given cross-border activities of these institutions, any resolution of their market failure requires a comprehensive approach, inevitably facing also complexities arising from the presence of an international element. In this regard, this work examines persisting pitfalls pertaining to determination of international jurisdiction and applicable law, considering specific principles that govern current regulation of international insolvencies of credit institutions in conjunction with fundamental principles of universality and territoriality. With reference to existing case law, it is shown that despite the dogmatic dominance of the universality principle, the international solution of the insolvency of credit institutions still clashes with significant territorialism tendencies. Given the unique position of credit institutions and their systemic importance for financial stability, their resolution has traditionally been entrusted to supervisory authorities with competence. As a result, credit institutions...
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Secured Claims in Czech Insolvency Proceedings
Schwarz, Jaroslav ; Sedláček, Miroslav (referee)
102 Abstract: Secured Claims in Czech Insolvency Proceedings The topic of this thesis are the secured claims in the Czech insolvency proceedings. This topic has been chosen by the author primarily with regard to the importance of the secured, often institutional, creditor for the insolvency proceedings and, therefore, for the market of financing of the business units and for the economy as whole. The aim of this thesis is not a description of the security interests but analysis of chosen practical issues which are often spotted by creditors within the Czech insolvency proceedings. Where appropriate, the author drew his attention primarily to the going concern solution of the corporate debtor's insolvency. In the thesis the author repeatedly comes to an end that mainly in reorganization it is important for the creditors to actively protect their rights and think about potential proceedings strategy. The reason is that the reorganization offers wide possibilities to exercise totally different interests by the creditors. In the thesis the author demonstrates that in spite of many novelizations the insolvency law in many areas does not correspond to the general legal regulation of the security interest and suggests that this discrepancy is being dismissed as soon as possible. The author is convinced that with...
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Transaction Avoidance in Insolvency Proceedings. Comparison of Czech and British Legislation
Mudroch, Luboš ; Macková, Alena (advisor) ; Pohl, Tomáš (referee)
THE TITLE OF THE DIPLOMA THESIS AND ABSTRACT TITLE: Transaction Avoidance in Insolvency Proceedings Comparison of Czech and British Legislation ABSTRACT: The general goal of transaction avoidance in insolvency proceedings is to prevent the adverse effects of economic entity's collapse that might be multiplied both by an interest of the collapsing entity to dispose the residual property to connected or associated subjects and by a plurality of creditors with conflicting interests and logical motivation not to be subjected to the mandatory rules of the insolvency proceedings. The current attitude and status of Czech legislation and jurisprudence to transaction avoidance is affected by the fact that within the socialism (and the related decadence of jurisprudence) this legislation could not sufficiently evolve which resulted in a situation that Czech legislation is currently dealing with multiple theoretical and practical deficiencies that neighboring legal systems have dealt with many decades ago. The main goal of this theses is to provide thorough analysis of both Czech and (with regards to the content limit of this theses) also the British legislation and to point out the most crucial deficiencies in Czech legislation and possible inspiration in the British legislation. The theses is divided into four...
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Invalidity and Ineffectiveness of Legal Action in Insolvency Proceedings
Glogr, Michael ; Sedláček, Miroslav (advisor) ; Smolík, Petr (referee)
Invalidity and Ineffectiveness of Legal Action in Insolvency Proceedings Abstract The subject of this thesis is a comprehensive analysis of the institute of invalidity of legal actions and ineffectiveness of legal actions and the incorporation of these concepts in contemporary legal theory and practice. The legislation protects the rights of recipients of the law and the public interest by identifying the legal actions which contradict the principles of morality or (and?) the law, as absolutely or relatively invalid, if the meaning and the purpose of the Act so require. Legal actions are also considered invalid if those actions undertake to the fulfilment of something impossible and in certain cases also if those actions are not made in the required form or if they are an error. The current legislation also protects creditors from the behaviour of debtors, if they intentionally shorten their creditors, through an institution called the relative ineffectiveness of legal action. The purpose is to protect creditors, guarantors and other persons against this shortening legal actions made by debtors. Such conduct of the debtor is formally not problematic, but it damages creditors, who therefore have the right to demand that the court determines such action is ineffective (only) against them. The author's...
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Účetní a daňové dopady konkursního řízení
Šrámková, Petra
This diploma thesis deals with insolvency proceedings, respectively one of the methods of solving insolvency, ie bankruptcy. The thesis is based on valid legal regulation, ie Act No. 182/2006 Coll., on bankruptcy and methods of its solution (insolvency law), comments on gradual amendments to the insolvency law and analyzes the changes brought about by the last amendment of 2017. The practical part deals with the process of bankruptcy in practice and seeks to analyze financial statements using financial models to predict the approaching bankruptcy of the company or whether it is possible to derive recommendations for falling companies based on the findings.
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Proposals to Improve Debt Collection in Case Insolvency of Debtors
Nuzíková, Jana ; Janíček,, Petr (referee) ; Musilová, Helena (advisor)
This bachelor thesis deals with securement and enforcement of debts especially in the case of debtor’s insolvency. Theoretical part describes fundamental concepts from legal, accounting, tax, and economic point of view. Analytical part deals with satisfaction, assignment, and securement of claims of three creditors during the insolvency proceedings. This is followed by outlined measures for creditors regarding failed repayment of claims and to obtain the highest possible satisfaction in case of debtor’s insolvency.
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