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Reorganization as a restoring form of insolvency
Hodačová, Helena ; Pohl, Tomáš (advisor) ; Macková, Alena (referee)
IN ENGLISH: Reorganisation as a non-liquidation solution of bankruptcy: The main purpose of my final thesis is to analyse a non-liquidation solution of bankruptcy of a debtor under the Czech act No. 184/2006 Sb. (Coll.) hereinafter called as Insolvency Act, with all respect to the actual judicial decisions, legal opinion of the professional public and economic aspects as well. Some issues under Czech law are given in comparison with the Slovenian act No. 7/2005 Zz. (Coll). The main reason for my research is the increasing importance of insolvency law after the economic crise in 2007 to 2009. Since many companies are still to be winded-up, although, it is not the most effective form of figuring out their decline in light of all-society economic stand-point. The thesis is divided into 17 chapters. Each chapter is composed of several main points. The first part subsumes ten chapters, which describes basic elements of incolvency proceedings that are very important for the overview comprehension of the reorganization. The aforementioned part of my thesis covers the description of the historical development and basic elements of incolvency proceedings, explenation of bankruptcy, decision of bankruptcy, petition for bankruptcy order, parties to incolvency proceedings, automatic stay, bankrupt's estate....
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Crystalex Nový Bor: od dedictví IPB k zátěžovému testu českého insolvenčního zákona
Čása, Tomáš ; Richter, Tomáš (advisor) ; Vacek, Pavel (referee)
v Summary The presented work describes and analyzes the course of insolvency proceedings in Crystalex Nový Bor, one of the largest corporate bankruptcies resolved under the Czech Insolvency Act. The core of the work focuses on the description and assessment of the case from the point of view of economic efficiency. The analysis of a large corporate bankruptcy case defined the key aspects of the proceedings and evaluated them in the context of the existing legal framework. The case confirmed a strengthened position of secured creditors, but could not find evidence for opportunistic abuse of this position. The Czech Insolvency Act respected pre- bankruptcy entitlements and the absolute priority rule. On the other hand, the course and the role of the moratorium and delays in the distribution of the liquidation proceeds were weak aspects of the proceedings. The selected method of insolvency resolution through liquidation and sale of the core operating assets together under one contract appeared the most plausible from the point of view of the type of distress in the company. Keywords: case study, financial distress, insolvency, insolvency proceedings, liquidation, asset sale Bibliographic record Čása, Tomáš: "Crystalex Nový Bor: From IPB Heritage to the Loading Test of the Czech Insolvency Act." Charles...
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International insolvency law
Šerák, Martin ; Brodec, Jan (advisor) ; Pfeiffer, Magdalena (referee)
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...
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Influence of insolvency proceedings on the joint assets after amendment No. 294/2013 Sb.
Rosůlek, Jan ; Pohl, Tomáš (advisor) ; Macková, Alena (referee)
The aim of my diploma thesis is to analyze legislation of the insolvency procedure's impact on the joint assets and how this legislation was changed by the amendment to the Insolvency Act No. 294/2013. This amendment is effective from January 1, 2014 and it brings to the Insolvency Act, inter alia, establishment of a common procedure for a debt relief in a marriage, which was previously only inferred from the case law. Also, there occures a certain refilling and refinement of some provisions of the Insolvency Act in accordance with the case law. This diploma thesis consists of four main chapters. The first chapter deals with the insolvency procedure generally, it presents the necessary conditions for the event, and explains the basic concepts with which it is linked. The second chapter is devoted to general explanations of the joint assets. It defines its content, form in which the joint assets may be located, when and how it arises, and also describes how the joint assets is settled. The third chapter deals with the underlying assets. It is a summary of property that arises for the purposes of insolvency proceedings and from which are the creditors satisfied. This chapter defines the property, which is included in the underlying assets, and also the way to exclude the property from it. There is...
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Legal disputes caused by execution and bankruptcy proceedings
Vepřková, Petra ; Smolík, Petr (advisor) ; Zoulík, František (referee)
The aim of this thesis is to define the disputes arising from the execution and bankruptcy proceedings, to categorize them to the systematic framework, to outline their nature and to create a comprehensive overview about these disputes. The thesis is devided into three chapters, which are subdevided into subsections and parts. The first chapter of this work is aimed to the general issues, that have the influence on creating and forming of disputes resulting from the execution and insolvency proceedings, because it would be impossible to capture this topic coherently without these initial premises. Thereof, there are incorporated the conceptual definition of the execution proceedings and the principles of the execution proceedings, particularly considering the principle of protection of the obliged person and the principle of protection of third parties. In the part dealing with the aspects that form the disputes in the insolvency proceedings there are indicated the historical development of the insolvency, the overall characteristic of the insolvency proceedings, its specific principles and the difference from the former legislation. Further, for making a general overview of disputes arising from the execution and insolvency proceedings, there is also included in the first chapter the classification...
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Raising claims in insolvency proceedings
Roud, Vojtěch ; Smolík, Petr (advisor) ; Winterová, Alena (referee)
This work aims to provide a comprehensive overview of the raising the claim in the insolvency proceedings. There is an explanation provided for each type of claims together with practical examples targeting the most problematic aspects of application of Act No. 182/2006 Coll., on bankruptcy and means of resolution thereof (hereinafter "The Insolvency Act").The work is not limited only to a process of raising the claim in insolvency proceedings but it systematical describes further existence of raised claim in the insolvency proceedings. There are also two more chapters dealing with the review of claims and their satisfaction. The work deals with the effective legislation, meaning the insolvency act. There is pointed toward the specific legislation in specific cases when adequate. This legislation is contained in the Act No. 328/1991 Coll., on bankruptcy and settlement (hereinafter "The Bankruptcy and Settlement Act"). I also took into account the significance of the novelization of the insolvency act number 294/2013 Sb. (so called revision novelization) and I point out the cases of modifications based on this novelization.. I also refer to the previous legislation contained in the bankruptcy act. Together with this I explain the development of insolvency law from the adoption of an insolvency act until now....
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Selected Business Aspects of Insolvency Proceedings
Mašek, Jan ; Černá, Stanislava (advisor) ; Zahradníčková, Marie (referee)
Thesis: Selected Business Aspects of Insolvency Proceedings The reason why I have decided for my thesis topic is that the connection between business law and insolvency law is a field which has not been studied comprehensively so far. However my opinion is that these law branches have a lot in common as we can see daily their intersection in many insolvency proceeding. Object of this thesis is to describe the main areas in which clashes insolvency law with business law and then define questions which issue from this clash and answer those on which the Insolvency Act and Business Code do not offer clear answers. As I mentioned the connection between insolvency and business law is not focused comprehensively by doctrine. Therefore I work particularly with decided cases and legal interpretation books as sources for my thesis. The text offers two points of views on this topic. The first is aimed to company (especially its statutory body) which becomes insolvent. The second is aimed to third parties who do business with an insolvent company. The first part of my thesis is engaged in short description of historical development of insolvency law in Czech. Then it is focused on explanation of basic insolvency terminology in context of business law. The second part of the thesis deals with duties of...
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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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Assets in the insolvency proceeding
Marek, David ; Smolík, Petr (referee)
The thesis focuses on the concept of assets, which represents one of the most basic and most important notions of the insolvency law. Assets within the meaning of the Insolvency Act are intended to satisfy the debtor's creditors. The correct finding and recording of the relevant assets and the and the following stages of the insolvency proceedings have a crucial impact on the level of satisfaction that will be given to the debtor's creditors. Step by step, the present thesis introduces to the reader the legal regulation of the most important legal terms related to the insolvency assets. Starting with the definition of the term assets to the inventory phase, where the relevant assets are recorded. In the context of this phase, the thesis addresses the duty of co-operation by the debtor in the insolvency proceedings. The thesis continues to deal with the inventory of the insolvency assets, including the asset valuation. Not even the description of the possibilities of defending the wrong classification of the property in the inventory of assets is missing. The next chapter, in turn, deals with the handling and management of insolvency assets by the insolvency administrator. The last chapter focuses on possible ways of monetizing assets, whereby the different ways are compared to each other and the...
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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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