Dentre os personagens históricos ligados à execução, o curator bonorum é talvez o mais desconhecido, ou o menos estudado. Mas esse aparente \"desinteresse\" acerca da figura é incompatível com sua importância. Diversos são os textos doutrinários que apontam o curator como o antecessor histórico do síndico da falência, no direito anterior, e, nos dias atuais, do administrador judicial. No presente trabalho, apresenta-se a trajetória do curator bonorum e a influência que a curadoria teve no desenvolvimento dos meios de execução. Abordam-se, nesse sentido, a visão peculiar do romano sobre seu patrimônio, a importância da formação dos fundos de propriedade e os antecedentes da execução patrimonial. Demonstra-se também que o procedimento da bonorum venditio, costumeiramente ligado ao período clássico do direito romano, não foi exatamente substituído pela bonorum distractio, pois esta fazia, de certa forma, parte daquela. Com isso se procura comprovar que a atuação do curator, especialmente a que tinha por fim evitar a ruína do devedor, modificou os rumos da execução e do concurso de credores, inclusive de como se os conhecem ainda hoje. Em proposição aparentemente inédita, demonstrar-se-á que a mudança de enfoque dos modelos executivos posteriores às implicações de cunho fisico contra a pessoa, pelos quais se deixou de buscar a totalidade do patrimônio e se passou a preferir a alienação apenas de quanto fosse necessário ao pagamento do débito, está intrinsecamente ligada à atuação do curador do patrimônio. o trabalho se divide em três partes: na primeira, analisa-se o momento histórico da suposta origem do curator bonorum e os primórdios da execução patrimonial; na segunda, o âmbito de atuação e as características do curador; por fim, na terceira e última parte, estuda-se a evolução da figura até o âmbito do Direito Justinianeu. Apresenta-se, também, em apêndice, singela contribuição ao direito moderno. / Among the historical figures associated with bankruptcy, the curator bonorum is perhaps the most unknown, or the least studied. But this apparent indifference about the figure is not compatible with its importance, for there are several doctrinal texts that indicate the curator as the historical predecessor of the trustee in bankruptcy. In this paper, the trajectory of the curator bonorum and the influence that its actions had on the development of means of foreclosure are presented. It addresses, in this sense, the peculiar vision of the Roman about his estate, the importance of property funds, and the background of bankruptcy proceedings. It is also demonstrated that the bonorum venditio procedure, usually connected to the classical period of Roman law, was not exactly replaced by bonorum distractio, as this was, somehow, part of that. The paper also seeks to show that the performance of the curator, especially the one that was to prevent the ruin of the debtor, changed the course of bankruptcy proceedings and concurrent creditors, including how they are known nowadays. In an apparently unprecedented proposition a change of focus from the executive models will be shown, for which the fact that they no longer get the entire assets of the debtor, and happened to prefer a sale of just what was needed so the debt could be paid, is intrinsically linked to the work of the curator bonorum. The paper is divided in three parts: in the first the historical moment of the supposed origin of the curator bonorum and the beginnings of foreclosure are analyzed; in the second, the scope of acting and features of the curator. Finally in the third and final part, the evolution of the figure to the right under Justinian is studied. In Appendix, a simple contribution to modern law is presented.

Esse trabalho analisa atividades contábeis não previstas na legislação falimentar brasileira e propõe que elas sejam atribuídas ao administrador judicial. A primeira atividade é a verificação da capacidade de continuidade da recuperanda; a segunda, a avaliação da capacidade de cumprimento do plano de recuperação; e, a terceira, a emissão de recomendação para que o processo de recuperação prossiga, seja extinto ou convolado em falência. A partir disso, os objetivos são discorrer sobre os potenciais benefícios das atividades propostas para o processo de recuperação e examinar se há impacto na remuneração do administrador judicial ou perito, caso essas atividades sejam adicionadas à legislação. Para atingir tais finalidades, inicialmente é realizada uma pesquisa bibliográfica, destacando-se os trabalhos de Santos (2009) e Moro Junior (2011), os quais abordam atividades similares às propostas no presente estudo, atribuindo-as ao perito contador. Esses estudos motivam a ampliação dos objetivos dessa pesquisa, a fim de contemplar os impactos também na remuneração do perito. Em seguida, efetua-se a análise documental do processo de recuperação judicial da empresa Beta e são coletadas informações que evidenciam a importância das atividades sugeridas para os envolvidos no processo. Consideram-se tais dados na elaboração do roteiro de entrevista da última etapa da pesquisa, na qual são feitas entrevistas com os diferentes agentes envolvidos nos processos de recuperação judicial. Constata-se a existência de um conflito de interesse entre as atividades realizadas pelo administrador judicial e pelo perito, após o deferimento do processo, e as atividades propostas, sendo assim, não devem ser atribuídas a esses agentes. Verifica-se a necessidade da análise da documentação inicial da empresa, principalmente para auxiliar o juiz quanto à decisão do deferimento ou não do processamento da recuperação. O aumento na remuneração do responsável por essa atividade pode ser factível, dependendo de sua previsão na legislação e de quem a executará. Não há um consenso sobre os benefícios ou impactos gerados pela análise da capacidade da empresa de cumprir o plano de recuperação, apesar de sua necessidade ser identificada na pesquisa documental, é entendida, pela maioria dos entrevistados, como uma tarefa exclusiva dos credores. Grande parte das opiniões dos entrevistados permanece a mesma ao se estudar a emissão de recomendação para que o processo prossiga, seja extinto ou convolado em falência. Essa atividade é apontada como necessária, de forma complementar, à primeira, de análise da documentação inicial, contudo, não foi possível identificar a sua necessidade pela pesquisa documental. / This research studies financial activities that are not foreseen in Brazilian legislation, and it proposes to allocate them to the trustee. The first activity is the analysis of the company\'s capability to recovery; the second is the analysis of the company\'s ability to fulfill the recovery plan; and the third is a recommendation for the process proceed, be extinguished or transformed into liquidation. The purposes are to discuss the potential benefits of the proposed activities for the reorganization process, and to check if there would be an impact on the remuneration of the trustee or the accountant, if these activities were added to the legislation. To achieve these intentions, was conducted a literature search in which we identified the Santos (2009) and Moro Junior (2011) researchers addressing similar activities to the proposed ones. Both treat the activities as being a responsibility of the accountant and not the trustees. These events led to the expansion of this research objectives to also study the impacts in the accountant\'s remuneration. In sequence, was made the documentary analysis of the reorganization proceedings of Beta company. The information collected showed the importance of the proposed activities for creditors and others involved in the process. These data were considered to draft the interview guide, used in the last stage of this research. The interviews were conducted with agents involved in reorganization processes. It has been found a conflict of interest between the activities performed by the trustee or the accountant after the approval of the process and the activities proposed. Therefore, they should not be attributed to these agents. It is verified a demand for the initial documentation analysis mostly to assist the judge when it has to approval or not the reorganization process. There is an increase in the remuneration of the agent responsible for this activity. This increase depends on its legal provision in the legislation and on who will perform it. There is no consensus about the benefits and impacts generated by the the analysis of the company\'s ability to fulfill the recovery plan. The necessity of this activity was acknowledged in the documentary research, but most of the interviewees understand it as a particular task of creditors. Most of the interviewees\' opinions remain the same in the study of the recommendation for the process proceed, be extinguished or transformed into liquidation. This activity is seen as necessary as a complement to the first one, the analyze the initial documentation. However, it was not possible to identify their need in the documentary research.

A organização do mercado de trabalho experimentou alterações significativas nas últimas décadas. Tais mudanças aumentaram significativamente as relações de trabalho não sujeitas à subordinação direta inerente à relação de emprego, porém também não consistentes com a autonomia existente nos contratos de prestação de serviço regulados pelo Direito Privado. Esse cenário promove novo estado de crise no Direito do Trabalho, pois seus instrumentos não correspondem com os anseios sociais referentes a tais formas de contratação. Nesse cenário, a sucessão de empregadores é analisada, a fim de identificar seus elementos e verificar sua aplicabilidade às empresas em crise. Esta análise torna-se necessária em virtude das modificações no Direito Concursal brasileiro promovidas pela Lei n. 11.101/2005. A referida lei implantou reformas significativas, alterando o objetivo nuclear e oferecendo novos instrumentos para assistir empresas em crise. Dentre tais instrumentos, novo procedimento de falência e a recuperação judicial afetam diretamente os direitos e prioridades dos credores trabalhistas. Considerando tais alterações, a aplicabilidade da legislação trabalhista relacionada à sucessão de empregadores na venda de unidades produtivas do devedor no contexto da recuperação judicial e da falência, conforme artigos 60 e 141, da Lei n. 11.101/2005, é o objeto central do presente estudo. A referida análise parte do conceito de sucessão de empregadores e seus elementos essenciais no Direito do Trabalho especialmente a despersonalização do empregador como instrumento de promoção da continuidade dos contratos de trabalho e das garantias dos empregados. Adicionalmente, buscou-se amparo nos antecedentes históricos do Direito Concursal e a sua atual regulamentação no âmbito da Organização Internacional do Trabalho, União Européia, Estados Unidos, França, Espanha, Portugal, Bélgica e Argentina, bem como relevantes decisões da Corte Européia e das cortes norte-americanas. Com base nesses elementos, os antecedentes históricos e a legislação concursal brasileira atual são interpretados, considerando a opção legislativa de abandonar a dicotomia entre a moratória e a liquidação de ativos, a fim de oferecer uma gama de instrumentos ao devedor com o objetivo de preservar negócios economicamente viáveis. Considerando tal substrato, os artigos 60 e 141, da Lei n. 11.101/2005, são interpretados conjuntamente com os artigos 10 e 448, da Consolidação das Leis do Trabalho, e com os princípios constitucionais relacionados. / The organization of the labor market underwent substantial changes in the last decades. These changes dramatically increased work relationships not subjected to direct subordination inherent to the employment contract, but also not consistent with the autonomy existing in the service rendering agreements which are regulated by the Civil Law. This scenario prompts a state of crisis in the Labor Law, since its instruments do not correspond to the societys expectations related to these forms of relations. In this scenario, the succession of employers is analyzed, in order to identify its elements and to verify its applicability to enterprises in economical distress. Such analysis is necessary due to the modifications of the Brazilian Bankruptcy Law instituted by the Law no. 11.101/2005. This law implemented significant reforms, changing the Brazilian Bankruptcy legislation core objective and providing new instruments to assist enterprises in economical distress. Among such instruments, the judicial recovery and the new bankruptcy proceedings directly affected the labor creditors rights and priorities. Considering such changes, the applicability of the Brazilian Labor Law regarding the succession of employers in the sale of business units of debtor in the context of the judicial restructuring and bankruptcy, under Articles 60 and 141 of Law no. 11.101/2005, is the central objective of this study. This analysis considers the concept of succession of employers and its essential elements in the Labor Law, especially the depersonalization of the employer as an instrument to promote observance of the employment contract and the employees guaranties. Additionally, the historical background of Bankruptcy Law and its current regulations under the International Labor Organization, European Union, United States, France, Spain, Portugal, Belgium and Argentina, as well as the relevant case law of the European Court and U.S. Courts are considered. Based upon these elements, the Brazilian historical and current Bankruptcy legislation are interpreted, considering the legislative option to abandon the dichotomy between the moratorium and liquidation of assets, in order to provide the debtor with a significant range of instruments to preserve economically viable enterprises. Considering such substrate, Articles 60 and 141 of Law no. 11.101/2005 are interpreted together with Articles 10 and 448 of the Consolidation of Labor Laws and the related constitutional standards.

(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...

International Insolvency Law Key words: COMI, Insolvency regulation, insolvency, bankruptcy, forum shopping In today's globalized world, proceedings with an international element have become more and more important. This work deals with an important sector of private international law - international insolvency law. Owing to the breadth of the topic, the author has chosen to focus specifically on issues surrounding COMI (Centre of Main Interests) in the European context in conjunction with Council Regulation (EC) no. 1346/2000 on insolvency proceedings dated 29 May 2000 and its amendment in 2015. In addition to the description of the general parameters of European insolvency regulations he refers to the discussion regarding the advantages and disadvantages of COMI as the main factor for the determination of a court's jurisdiction for the initiation and conduct of insolvency proceedings with an international element, and tries to show (with references to several judgments of the European Court of Justice and national courts - among them the Czech courts) both the development of its application in practice and the development of the definition of COMI itself and criteria for assessment. In first chapters author gives the overview of theoretical grounds of the cross- border insolvency and shows the...

Thesis title: Reorganization under Czech legal regulation Main goal of this diploma thesis is to describe and to analyze the applicable legal regulation of reorganization, contained in Act No. 182/2006 Coll., on insolvency and modes of its solutions. Reorganization, as governed today, represents one of the rescue modes of resolution of insolvency, suitable mainly for the mid-sized to large enterprises. Although even after meeting of all the conditions for its allowance by court, it cannot be understood as a solution for everybody, it represents an interesting alternative to the bankruptcy, leading to the winding-up of the particular company. The diploma thesis is divided into fourteen chapters in total. The first two chapters are dedicated to general issues, i.e. to the definition of the concept of the insolvency proceedings and of its legal regulation, as well as to the legal regulation of reorganization. The emphasis therein is given to the character and goal of the insolvency proceedings, with focus on the interpretation of the concept of "principally proportionate satisfaction of creditors" as one of the key concepts determining the main purpose of insolvency proceedings. Third chapter reflects the basic overview of the process of insolvency proceedings until the issuance of the court decision...

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

The aim of this master´s thesis is to verify the usability of credibility and bankruptcy models for predicting the bankruptcy of the company and evaluate the financial situation of the company after the reorganization in the conditions of the Czech Republic. The theoretical part of this thesis contains of descriptions corporate crisis and its causes, consequences and individual phases. Next in this part are described models and their method of calculation. In the practical part are presented selected companies on which are applied the models. The companies´ situation has been evaluated several years before and after the declaring bankruptcy and then has been evaluated the ability of the credibility and bankruptcy models to predict the companies´ problems ahead of time. At the end of this thesis are summarized the results from evaluating of these companies by prediction models, the influence of input data on results and the recommendations to include the models in financial management of the company.

The aim of this thesis is to analyze the process of reorganization under the US laws and accounting standards. The first chapter contains legislation, description of the parties and their role during the insolvency proceedings. It covers the role of the debtor, creditors, creditors' committee, insolvency trustee and insolvency court throughout the insolvency proceedings. The second part focuses on accounting under US GAAP based primarily on the ASC 852, which describes in detail the cases and items that are treated differently during the reorganization. The third part includes legal and accounting analysis of the American paper company NewPage Holdings Inc., which successfully emerged from bancruptcy in 2012.

This thesis aims to analyse the financial statements of entities that filed for bankruptcy in 2015. Firstly, the theoretical part of the thesis provides explanations for technical jargon in relation to insolvency and subsequent proceedings in relation to entities that went bankrupt. Secondly, it also elucidates related legislation through analysis of particular items in financial statements - the balance sheet and the profit and loss statement - to determine the problematic indicators within these statements that can aversely influence the ability of financial analysis to provide accurate and reliable information regarding the financial health of the entity. Finally, the last theoretical chapter addresses the advantages and limitations of the particular financial ratios and analysis that is used in the subsequent practical part of the thesis. The goal of the practical part of the thesis was to determine the ability of the analysed financial ratios to provide reliable information to shareholders and third parties to assess company health, and also scrutinise potential limitations. Since the thesis focuses on bankruptcy, the researcher analysed financial statements from three years prior to their bankruptcy. The aim was to determine whether the analysis, and in particular, which financial ratios could raise red flags and predict the nearing financial difficulties these entities were about to endure.