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Insolvency of a managed person and the consequences for the corporate group
Pulicar, Miroslav ; Černá, Stanislava (advisor) ; Zahradníčková, Marie (referee)
Thesis title: Insolvency of a managed person and the consequences for the corporate group This thesis deals with the bankruptcy of controlled affiliate and its legal consequences for operating of the whole corporate group in the Czech legal system. Firstly, it states the theoretical basis for the legal regulation of corporate groups and their basic elements - corporations. In relation to the regulation of corporate groups it points out the conflict between entity approach and enterprise approach, both addressing the corporate group differently with respect to corporate personality. It further provides a brief explanation on the nature of bankruptcy and defines it as an occasion where the ownership of the corporation does in fact fundamentally change. Secondly, it introduces some legal instruments of the company law and the law of the corporate groups governing both, the liability of controlling entity for its conduct in the management of the controlled affiliate and the duties of persons with certain functions or influence over the corporation in the so called twilight zone of insolvency. It is argued that the object of such provisions is to prevent the bankruptcy and to provide a remedy to creditors and shareholders in case of abuse of the corporate group structure by the controlling entity. This...
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Bankruptcy offenses
Dudová, Martina ; Moravec, Tomáš (advisor) ; Levý, Jan (referee)
This bachelor thesis deals with the problem of filing an obviously unjustified or even fraudulent insolvency petition, which can subsequently cause a real bankruptcy of the target debtor, damage his creditors and other bankruptcy offenses. The reason for filing such petition can be a desire to take over the financial means or property of target person or to disqualify him in market competition. The objective of this thesis is to evaluate the adjustments of sanctioning the filing of obviously unjustified insolvency petition from both criminal and insolvency law standpoints with respect to the subsidiarity of the legal repression.
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Comparison of Czech and German insolvency law with insight in to practice
Chytil, Petr ; Pohl, Tomáš (advisor) ; Macková, Alena (referee)
As it implies from the title, aim of this thesis is to compare Czech and German insolvency law and find out differences, also on the practical level. Motivation to choose these countries came from facts, that both countries are economically connected and German law is traditional source of Czech law. Another aim is to find out, if the law of our western neighbours can be inspiration also for future changes to relatively new insolvency law in Czech. Because the title of this thesis is rather general, it was necessary to specify the content of this thesis with choosing main points. These are discharge from debts, reorganisation and insolvency administrator seen as a profession. Aim of this thesis is not to cover the insolvency law complexly. Thesis is divided into eleven chapters. First chapter is introduction and clears aims of this thesis. Second and third chapter describes the introduction to German insolvency law, which fairly overlaps the introduction to Czech insolvency law. Selected differences are mentioned in fourth chapter. Chapters five to seven are containing the main themes of this thesis, and these chapters are divided into subchapters with German law, Czech law and subchapter with comparison. The chapter about discharge from debts is rather extensive, because the concept of this legal...
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Discharge of a debtor - one of modes of insolvency solution
Kravcivová, Kristýna ; Smolík, Petr (advisor) ; Winterová, Alena (referee)
(ENG) DISCHARGE OF A DEBTOR - ONE OF MODES OF INSOLVENCY SOLUTION This diploma thesis aims to provide a detailed overview of the discharge from debts in the insolvency proceedings. The debt relief was incorporated into the Czech legal system by the Insolvency act, No. 182, 2006 Coll, which entered into force on the January 1st 2008. The idea of debt discharge was led by an intention to provide highest possible and proportional satisfaction equally to all creditors and in the same time, to protect debtor's right to decent living conditions. In the case of successful debt discharge, the debtor is forgiven part of his debts, as long as he performs his good will during entire insolvency process. The debtor must not have any debts originated in his business activities, unless he specifically agrees on an exception with the creditor. This determinates a debt discharge to be used mainly by individual persons, not by companies. Also, the final creditors' satisfaction must reach at least 30 % of debtor's claims. We distinguish two forms of debt discharge. In the first case, which is called audition, all debtor's assets are sold out and received funds are used for creditors' satisfaction. In the second case, which uses agreed payment schedule, all debtor's income over the minimum base is regularly...
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Registration of claims in insolvency proceedings
Janoušek, Jan ; Smolík, Petr (advisor) ; Winterová, Alena (referee)
RAISING CLAIMS IN INSOLVENCY PROCEEDING - ENGLISH ABSTRACT The aim of this thesis is to provide a comprehensive summary of institutes of an insolvency law related to the application of claims as well as defining the rights and obligations of creditors related to this topic with a closer focus on risk and problematic facts appearing in practice. All the text is based on the insolvency law effective at the time of its creation and besides the academic literature also often uses related practice of the courts. The introductory part presents an insolvency law in its historical and also contemporary context. It is listing the material sources and their brief characteristics needed to simplify the understanding of the substance of an insolvency law. For the same reason the initial chapters deal with the basic principles and terminology of an insolvency law, namely an insolvency proceeding, a bankruptcy and closely characterize particular ways of solving a debtor's bankruptcy. Another part of this thesis focuses on the actual debts. The legal analysis of the term debt and its types that are applied during insolvency proceedings is being carried out and it involves also the list of debts excluded. On the other hand this part includes the theory of debts with no need to be applied, since those are registered into...
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Discharge from debts in Czech insolvency law
Ferešová, Romana ; Smolík, Petr (advisor) ; Pohl, Tomáš (referee)
Thesis "Discharge from debts in Czech insolvency law" mostly aims to analyze recent legislation of the institute discharge from debts as a recovery method of solution to critical financial situation of debtor called as bankruptcy. This thesis deals with institute of discharge from debts in current Czech insolvency law with regard to amendment of Insolvency act, which came into force on the 1st of January 2014 and also with regard to another prepared amendment of Insolvency act. This thesis also contains emphasis on development of some institutes of discharge from debts, especially of joint discharge from debts of married couples and discharge from debts of self-employed persons in relation to changing legislation and judicial decisions.
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Experience with the institute of discharge from debts in the Czech and Central European legal system
Hönigová, Nikola ; Smolík, Petr (advisor) ; Pohl, Tomáš (referee)
English abstract The purpose of my thesis is to analyze the insolvency law in Central Europe, in particular the discharge from debts. The reason for my research of this area of law is that recently this issue became frequent because of economic depression. The thesis is composed of nine chapters, each chapter dealing with different aspects of discharge from debts. Chapter One illustrates the methodology of my thesis, especially the methodology of comparative law - the "comparatum" of this thesis is the Czech legal system and the "comparandum" is the Slovak, German and Austrian legal system. Chapter Two is introductory and defines basic issues regarding the discharge from debts. Chapter Three contains historical introduction to the insolvency law in Central Europe. Chapter Four is subdivided into two parts. Part One describes the modern beginnings of insolvency law in Czech and Slovak legal systems. Part Two deals with the beginnings of insolvency law in German and Austrian legal systems. Chapter Five describes the European regulation No. 1346/2000/EC. Chapter Six consists of twelve parts. Each part is subdivided into four subparts - Czech, Slovak, German and Austrian law. Part One is introductory into comparative law concerning the discharge from debts. Part Two focuses on practical findings with respect to...
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The position of insolvency trustee and its equivalent under the laws of the Kingdom of Spain
Plívová, Kateřina ; Smolík, Petr (advisor) ; Winterová, Alena (referee)
The position of insolvency trustee and its equivalent under the laws of Kingdom of Spain The purpose of this thesis was to describe main features of Czech and Spanish legal regulation of insolvency trustee respectively insolvency administration and also to point out to some of the major differences between these two legal orders and pros and cons of concrete legal regulation. This thesis is divided into five chapters. Opening chapter reflects a concept of insolvency law and its understanding and basic characteristic in the Czech Republic and the Kingdom of Spain. Further it also describes inclusion of insolvency law into the legal system and its sources. The second chapter is dedicated to the matter of insolvency proceedings in the Kingdom of Spain. This chapter was included to this thesis for better understanding of this matter, due to the fact that it is not possible to describe the position of insolvency administration without knowledge of wider context and character of Spanish insolvency proceedings or at least it would be considerably difficult and it would exclude understanding of some of the institutes or procedures of insolvency administration. Succeeding this part there are two chapters each of which is dedicated to one of the legal orders. The third chapter deals with the Czech insolvency...
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Economic Rationale behind the Evolution of the Slovak Insolvency Law
Hrnčiar, Pavel ; Richter, Tomáš (advisor) ; Gutiérrez Chvalkovská, Jana (referee)
The Slovak insolvency law reform, which came into effect on 1 January 2006, introduced a brand new restructuring option for business debtors. In this thesis, we present the first complex empirical analysis of all restructuring attempts allowed in the period 2006-2010. Results, based on a large amount of data, which we gathered for this purpose, suggest that the restructuring option is much more viable than the composition option under the previous Bankrupcty and Composition Act. The system is characterized by very high success rates (in terms of plan confirmation) and speedy proceedings. The size of the debtor affects neither the prospects for success, nor the length of proceedings significantly. We conclude that, even though a lot of improvements still need to be done, the reform moved the Slovak insolvency law closer to the standards of the best-performing jurisdictions. JEL Classification D23, K12, K20 Keywords insolvency law, reform, restructuring, bankruptcy, restructuring plan, trustee Author's e-mail hrnciarpavel@gmail.com Supervisor's e-mail tomas.richter@cliffordchance.com
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Selected problems of application of the Insolvency Act
Kulíř, Martin ; Pohl, Tomáš (advisor) ; Macková, Alena (referee)
Selected problems of application of the Insolvency Act On the 1st of January 2008, Act No. 182/2006 Coll. on Insolvency and its Resolution (Insolvency Act), which constitutes the substance of current legal regulation of bankruptcy law in the Czech Republic, came into force. There was a need to adopt new regulation emerged not only as a result of obsolescence of the original regulation, which - despite numerous direct or indirect amendments - was not able to respond adequately to economic changes, but also due to the necessity to adjust bankruptcy law to European legal regulations. The Insolvency Act together with implementing regulations form the basis of an entirely new and complex legal regulation which stands on its own principles, introduces uniform insolvency proceedings for all kinds of resolutions of insolvency and also new forms of insolvency resolutions. In addition to bankruptcy as a traditional and liquidating form of insolvency resolution, the Insolvency Act introduces a reorganisation and a discharge of debts as preservation methods of insolvency resolution which might be more profitable both for the debtor and his creditors. Reorganisation is designated for entrepreneurs, while discharge of debts was adopted as a resolution of state of insolvency of non-entrepreneurs. But this current legal...
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