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Valuing a Distressed Company
Štěpánková, Jana ; Abraham, Karel (referee) ; Dufek, Zdeněk (referee) ; Klaban,, Vladimír (referee) ; Puchýř, Bohumil (advisor)
The doctoral thesis deals with bankruptcy and its possible solution from the point of view of expert activities. Valuation of the company in distress may be required at different stages of the business life cycle. While sometimes the valuation is requested directly by the shareholders or the managing partners facing bankruptcy (or preventing crisis) sometimes assessment is requested in insolvency proceedings by the insolvency administrator. Whether it is the intention to find out it is more beneficial for creditors to reorganise or liquidate the assets, in all these cases it is the work of experts in the insolvency proceedings who play a decisive role. The practical part of the thesis, therefore, focuses on the selection of appropriate methodologies which can be used at any given moment of crisis management.
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Incidental disputes in insolvency
Pavlů, Robert ; Sedláček, Miroslav (advisor) ; Holčapek, Tomáš (referee)
Incidental disputes in insolvency Abstract, key words This thesis focuses on the issue of incidental disputes in insolvency proceedings with an emphasis on the different types of such disputes, pointing out some problematic aspects of the current legislation. Incidental dispute is a special type of civil court proceedings, the purpose of which is to resolve issues that are central to the whole insolvency proceedings and cannot be resolved in the insolvency proceedings themselves and thus require separate attention. Decisions in such disputes can have a fundamental impact on the rights of litigants and third parties, which underlines their importance not only in the insolvency context. This thesis conducts a thorough analysis of the legal regulation of incidental disputes in insolvency proceedings, drawing on legislation, case law, specialist literature and, last but not least, the practical experience of the author as an assistant of an insolvency practitioner with a special authorization. The thesis first deals with the general concept of incidental disputes, their characteristics, legal regulation and the course of court proceedings concerning them. It then focuses on the different types of incidental disputes as provided for in the Insolvency Act and other relevant legislation. This thesis also refers...
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Bankruptcy of financial institutions
Urbanová, Irena ; Pohl, Tomáš (advisor) ; Sedláček, Miroslav (referee)
Bankruptcy of financial institutions Abstract The topic of the thesis is the bankruptcy of financial institutions. The thesis deal with bankruptcy of financial institutions, which are defined in the Insolvency Act, int its § 2 paragraph k). These include banks, credit unions, securities dealers, insurance companies and reinsurance companies. Given the potential system-wide impact of the bankruptcy of financial institutions and also for the reason a large number of creditors, special legal regulation on the insolvency of financial institutions is necessary. The special legal regulation of bankruptcy of financial institutions can be found in the Part Two of Title IV of Insolvency Act. The main focus of the work is the differences of insolvency proceedings in financial uinstitutions from standard insolvency proceedings. Depositors usually represent the majority of creditors of financial institutions and therefore are afforded increased protection in insolvency proceedings of financial institutions. This protection is based on the deposit insurance system, which in Czech legal environment is represented by the Guarantee System Deposit Insurance Scheme and the Securities Dealers Guarantee Fund, and also in the automatic registration of claims arising from the insolvent debtor's accounts. Special role in the...
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The Costs of Bankruptcy
Pérez, Nicolas ; Sedláček, Miroslav (advisor) ; Střeleček, Tomáš (referee)
The Costs of Bankruptcy Abstract This work deals with the question of whether insolvency law effectively reduces the cost of bankruptcy in the context of insolvency proceedings of commercial corporations. The author first defines the economic foundations of insolvency law and emphasizes its goal as a maximalization of the creditor's wealth. The first chapter focuses on the initial context of insolvency proceedings and emphasizes an economic perspective that views insolvency proceedings as a mechanism for shifting a residual claim from shareholders to creditors at the lowest costs. The author describes the costs of using this mechanism as the costs of bankruptcy. The second chapter describes what kind of costs are associated to the civil proceedings. Subsequently the author elaborates on the relationship in between the civil proceeding costs and insolvency proceeding costs. The rest of the second chapter is dedicated to the direct and indirect costs of bankruptcy. The costs of the insolvency trustee and the costs of using external advisors are identified as the most important direct bankruptcy costs. The third chapter Describes the position of the insolvency trustee and his role in insolvency proceedings, including the method of its remuneration. The Author analyzes whether the set calculation of the...
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Bankruptcy of financial institutions
Urbanová, Irena ; Pohl, Tomáš (advisor) ; Sedláček, Miroslav (referee)
Bankruptcy of financial institutions Abstract The topic of the thesis is the bankruptcy of financial institutions. The thesis deal with bankruptcy of financial institutions, which are defined in the Insolvency Act, int its § 2 paragraph k). These include banks, credit unions, securities dealers, insurance companies and reinsurance companies. Given the potential system-wide impact of the bankruptcy of financial institutions and also for the reason a large number of creditors, special legal regulation on the insolvency of financial institutions is necessary. The special legal regulation of bankruptcy of financial institutions can be found in the Part Two of Title IV of Insolvency Act. The main focus of the work is the differences of insolvency proceedings in financial uinstitutions from standard insolvency proceedings. Depositors usually represent the majority of creditors of financial institutions and therefore are afforded increased protection in insolvency proceedings of financial institutions. This protection is based on the deposit insurance system, which in Czech legal environment is represented by the Guarantee System Deposit Insurance Scheme and the Securities Dealers Guarantee Fund, and also in the automatic registration of claims arising from the insolvent debtor's accounts. Special role in the...
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Tax administrators' claim in insolvency proceedings
Ulvr, David ; Sedláček, Miroslav (advisor) ; Smolík, Petr (referee)
Tax administrators' claim in insolvency proceedings Abstract The thesis deals with the claims of the tax administrator in insolvency proceedings. As this is a complex and very broad issue, the thesis focuses on a more detailed analysis of two major cases in which the tax administrator acts as a creditor in insolvency proceedings. Specifically, these are cases where the tax administrator acts as a secured or preferential creditor. The thesis also analyses the data provided by the tax authorities on the basis of questions sent to them. The thesis is divided into two chapters. The first one deals with the tax administrator as a secured creditor. First, the advantages of the secured creditor status in insolvency proceedings are explained. The substantial part of the chapter is devoted to the creation of the tax administrator's pledge, which differs from the general pledge. The thesis reflects on what tax claims can be subject to a pledge in the context of the new case law of the Supreme Administrative Court. This chapter also explains the possible impact of the commencement of insolvency proceedings on the duration of the pledge. The chapter also deals with the conflict between the Insolvency Act and the Civil Code regarding the order of creation of a pledge and presents possible solutions. The next subchapter...
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Assessment of the creditworthiness of a consumer in insolvency proceedings
Tetera, Filip ; Sedláček, Miroslav (advisor) ; Smolík, Petr (referee)
1 Assessment of the creditworthiness of a consumer in insolvency proceedings Abstract This diploma thesis deals with a creditor's obligation to assess a consumer's creditworthiness with due professional care before concluding a consumer credit agreement, or alternatively amending such an agreement consisting of a significant increase in the total amount of consumer credit imposed on the consumer credit provider by Act No. 145/2010 Coll., on consumer credit, or Act No. 257/2016 Coll., on consumer credit. Enshrining this obligation in the aforementioned laws is one of the manifestations of consumer protection in our legal system. The primary goal of this obligation is to protect the consumer, who, compared to consumer credit providers, certainly lacks professional, and in particular legal and economic, knowledge and experience in the field of consumer credit provision, as well being materially and personally equipped as regards disproportionate and reckless borrowing. Over-indebting of households negatively affects not only the consumer as an individual, on whom the negative consequences fall existentially, but also the Czech Republic as a state, and ultimately also creditors from consumer credit contracts, i.e. ultimately they are also protected by regulation and compliance with the obligation of providers...
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Reorganizace jako možnost řešení úpadku
Bouchal, David
Bouchal, D. Reorganization as a possible solution to bankruptcy. Bachelor thesis. Brno: Mendel University, 2016. Bachelor thesis is focused on reorganization, as one of the ways of solving bankruptcy. On the basis of economic analysis of chosen company, author suggested some necessary measures that should lead to a successful reorganization and rehabilitation of said company. The suggested reorganization process is evaluated and also compared to bankruptcy. The conclusion is supplemented by generally accepted recommendations applicable in insolvency proceedings.
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