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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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Bussines plan - Reorganization of Existing Company
Chmelař, René ; Pavláková Dočekalová, Marie (referee) ; Luňáček, Jiří (advisor)
The subject of this bachelor thesis is the composition of the detailed business plan for the reorganization of an existing restaurant in Brno, which is focusing os sport broadcasts. It is a company, where many customers go every day. The main purpose of the bussiness plan will be to improve and increase the efficiency of services. In the first part the business plan is based on the compiled theoretical knowledge. The second part is focused on the analysis and the research of internal and extrernal environment. The aim of the thesis is to find out whether the business plan for the reorganization of an existining company is prepared properly and to evaluate i fis realistic.
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Reorganisation and restructuring
Blažek, Adam ; Sedláček, Miroslav (advisor) ; Pohl, Tomáš (referee)
Reorganisation and restructuring Abstract This rigorous work is focused on the issue of reorganization and restructuring. The main goal of the author of this work is to describe some selected current and future remediation processes for entrepreneurs, especially taking into account their real usability in practice. The author specifically focuses on the institutes of reorganization, informal restructuring, and preventive restructuring. In addition to the above, the author considers the advantages and disadvantages of these institutes and critically evaluates their current regulation, while the author complements these critical considerations with de lege ferenda considerations, which aim to improve the functioning of restructuring processes in the Czech Republic. In order to achieve the above-mentioned goals, the author discusses the institute of reorganization in one of the introductory chapters, especially with regard to its actual success and usability in practice, focusing primarily on its current problematic issues. The author also focuses on the institute of the so-called pre-packaged reorganization, due to its consensual nature, which can serve as a source of inspiration for future restructuring institutes, which will have a basis built mainly on consensus between the debtor and his creditors. To...
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Edict of Gülhane (1839). The Ottoman Empire at the Beginning of Tanzimat Reforms
Mazanec, Jakub ; Skřivan, Aleš (advisor) ; Valkoun, Jaroslav (referee)
This work deals with analysis of publication of Gülhane noble decree (3 November 1839) which is an eminent event in the modern history of the Ottoman Empire. Promises of sultan Abdülmecid I contained in this document in fact opened the door for a reform period called tanzimat, which is mostly put between years 1839-1876. This work also focuses on earlier attempts of reorganization and modernization of the empire, especially on reforms of sultan Selim III and sultan Mahmut II. Knowledge of these reforms is necessary for understanding the events of 1839. An important part of this work is formed by analysing circumstances of Gülhane decree origins and the English version of its text.
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Kordarna - the first large case of reorganization under the new insolvency act
Harrer, Jan ; Richter, Tomáš (advisor) ; Gutiérrez Chvalkovská, Jana (referee)
The long awaited insolvency act in force - Act 182/2006 Coll., changed the whole insolvency process by enabling new solutions to handle corporate insolvency issues. Among the most revolutionary features is the facilitation of a reorganization process. The thesis focuses on legal and economic aspects of the reorganization framework and compares it with the possibility solution of bankruptcy liquidation. The thesis analyzes the reorganizations of company called Kordarna, a.s. and also three subsidiary firms belonging to the KORD Group companies, which have been the first major test of the reorganization framework under the current Czech Insolvency Act. After the analysis of the procedural steps throughout the insolvency proceedings, the thesis arrives at a conclusion that given the circumstances, the chosen reorganization procedure was the best possible solution to Kordarna's insolvency for all classes of creditors and also other involved stakeholders. Moreover, the slow pace of the process is also discussed in detail. An important conclusion is reached in the field of bankruptcy estate valuation, where the thesis claims that the values of bankruptcy estates valuations were unrealistically high, because the adverse impact of the current extraordinary asset market conditions was never fully considered.
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Reorganization in the new insolvency law with respect to the U.S. insolvency law
Dvořáková, Helena ; Smolík, Petr (advisor) ; Zoulík, František (referee)
Reorganization in the new Czech insolvency law with respect to the US law Summary The purpose of my thesis is to analyse reorganization as an institute of the new Czech insolvency law and its relation to the US insolvency legal regulations. The thesis is composed of 11 main chapters, majority of them relating to the reorganization process and its particular subjects. Chapter One is introductory and defines the purpose of the thesis as well as its limits. The next two chapters give a brief introduction on the insolvency law history in both countries in order to highlight the underlying differencies of both economics. These chapters also addresse the current legal status of insolvency law with emphasis on the recent legislation changes and their relation to economical and social changes. Chapter Four lists the main subjects to the insolvency procedure with emphasis on reorganization and defines basic terminology to enable a better understanding of the reorganization. It is followed by a chapter Five describing the reorganization institute in detail incorporating an outline of relevant Czech case law. Each of the following four chapters represents an important milestone of the reorganization process and is further subdivided in particular stages in order to enable a better understanding of the process as well...
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Concept of Privatization and Restructuring by the Treuhandanstalt, discourse about Mr. Rohwedder and Mrs. Breuel
Myslivcová, Michaela ; Mlsna, Petr (advisor) ; Pešek, Jiří (referee)
The thesis "Concept of Privatization and Restructuring by the Treuhandanstalt, discourse about Mr. Rohwedder and Mrs. Breuel" deals with the creation of the Eastern German privatization agency (THA). Further, the two major tasks of the institute, privatization and reorganization of the national wealth of the GDR, are being analyzed. After the "Treuhandgesetz" (privatization law) had been enforced, the THA soon started to sell companies out of their portfolio. Other companies needed to be shut down and people started to lose their employment. This course of action was heavily criticized by the political opposition as well as the Eastern German people, who were longing for increased wealth. In consequence, the THA started to shift its focus from privatization to reorganization. The controversy surrounding the THA in the middle of the reunification process of Germany is shown by the assassination of Mr. Rohwedder by the terrorist organization RAF. The net financial outcome after four years of management by the THA is a deficit of 200 billion DM.
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Restructuring and Reorganization of Capital Company
Veličková, Anna ; Sedláček, Miroslav (advisor) ; Pohl, Tomáš (referee)
Restructuring and Reorganization of Capital Company Abstract There is no doubt that the insolvency of a capital company is an undesirable event that negatively affects a significant number of parties. However, it can also have an impact on a much larger (e.g. macroeconomic or social) scale. It is therefore important that there are mechanisms in place that can help to resolve a company's (particularly financial) distress in a way that not only avoids (likelihood of) insolvency but allows the company's business to remain in operation and restore its profitability. In other words, mechanisms that may enable a remedial solution to the company's distress, as long as such solution makes sense. The mechanisms in question are the subject of this thesis which is currently gaining importance in view of the threat of increasing amount of corporate bankruptcies in the context of the covid-19 disease pandemic. For these purposes, the first half of the thesis (represented by the first four chapters) aims to introduce the reader in more detail to out-of-court restructuring and preventive restructuring procedures that can help to address the less severe intensity of company's distress. In case that a company's distress worsens to such extent that it cannot be resolved informally or semi-formally, or if for some other...
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Reorganization under insolvency law
Havelka, David ; Smolík, Petr (advisor) ; Sedláček, Miroslav (referee)
Reorganization under insolvency law Abstract Diploma thesis from quite vague scope, as reorganization apparently is, focused on specific areas in insolvency proceedings and trying to bring a more concrete point of view and a more detailed perspective. Those areas include problems of suitability research that can be use by reorganization institute, as fundamental remediation for solving bankruptcy for various situations. Focus is on both economics, also a legal assumption of the feasibility of reorganization, yet to increase an emphasis on examining the motivation of people, who apparently can affect the enforcement and can significantly affect the implementation of reorganization. Determination process of appropriate way to resolve the insolvency situation is closely related to its solution and is also more detail explained in thesis. As a main key is considered to have enough and sufficient information about debtor's creditors. Valid legal problems and regulations of compiling a professional assessment, which might lead to better knowledge for creditors. In this context, some legislative proposals aimed at improving the usability of assessment in the reorganization are also mentioned. Within the whole work, emphasis is placed on the topics discussed, not only with regard to the recent legislative changes....
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