Magistro baigiamajame darbe analizuojama daiktinės teisės koncepcija ir jos įsitvirtinimo Kontinentinėje teisėje priežastys, pateikiamas daiktinės teisės apibrėžimas, savybės, daiktinių teisių objektų genezė, autorius kritikuoja materialaus daikto koncepciją. Antrajame darbo skyriuje apžvelgiamas konkrečių daiktinių teisių turinys, šių daiktinių teisių turėtojų apsauga vykdymo procese ir nemokumo procesuose. Darbe analizuojamos nuosavybės teisė bei daiktiniai prievolių vykdymo užtikrinimo būdai – hipoteka ir įkeitimas. Poskyriuose apie hipoteką ir įkeitimą analizuojamas kreditorių daiktinių teisių apsaugos turinys ir mechanizmas vykdymo procese bei apsaugos turinio transformacijos įmonių bankroto bei restruktūrizavimo procesuose, apžvelgiamos naujovės priverstinės hipotekos reglamentavime Lietuvos Respublikoje, pateikiama absoliučiai privilegijuotos kreditorių–įkaito turėtojų padėties kritika, remiantis ekonominio efektyvumo, rizikos paskirstymo bei socialinio teisingumo kriterijais. Trečiajame darbo skyriuje analizuojamas Rusijos Federacijos teisės aktuose įtvirtintas kreditorių daiktinių teisių apsaugos teisinis reglamentavimas vykdymo procese bei nemokumo procesuose. Analizuojamos Rusijos Federacijos Civilinio Kodekso, Įstatymo dėl įkeitimo, Įstatymo dėl nekilnojamojo turto įkeitimo (hipotekos) bei kitų įstatymų nuostatos. Ketvirtajame darbo skyriuje analizuojamas kreditorių daiktinių teisių apsaugos mechanizmas esant nemokumo situacijai, kuri išeina už vienos Europos... [toliau žr. visą tekstą] / The thesis analyses the concept of rights in rem, the circumstances of their establishment in the legal systems of Continental Europe. The author gives a brief description of rights in rem, emphasizes the features of them, investigates the genesis of objects falling under the definition. The author criticizes the concept of a material thing as an obsolete and unsuitable for the needs of a modern legal system. In the second section of the thesis, the author examines a substance of specific rights in rem, the protection of the right holders in the executory process and in the processes of bankruptcy and restructuring. The thesis is concentrated upon the law of property, mortgage and pawn. In the subsections regarding the latter two, the matters and mechanisms of right holders protection are being analyzed: firstly in a context of executory process, secondly - their transformations in the processes of insolvency. The insights concerning recent novelties in the regulation of compulsory mortgage in the Republic of Lithuania are given. The author considers a soundness of the exclusively privileged position of the secured creditors in the insolvency with regard to economic efficiency, risk–sharing and social equality. In the third section of the thesis the author analyses the right holders protection in Russian Federation: the research is based on the Russian Civil code, the Law on pawns, the Law on mortgages and other relevant laws. The fourth section of the thesis is dedicated to... [to full text]

Bakgrund Regeringen ansåg trots införandet av 1994 års Skuldsaneringslag (1994:334) att man behövde en lösning på problemet att enskilda näringsidkare varken kunde bli beviljade skuldsanering eller företagsrekonstruktion för att på så sätt ha möjlighet att fortsätta bedriva sin verksamhet om de hamnat i ekonomiskt obestånd. 2007 tillsattes därför en särskild utredare som skulle utreda och lämna förslag om skuldnedsättning för enskilda näringsidkare. Denna utredning låg till grund för regeringens proposition som riksdagen oktober 2010 fattade beslut om. Problemformulering Vilka effekter har den nya Skuldsaneringslagen medfört för näringsidkare såväl som borgenärer? Syfte Vårt syfte med kandidatuppsatsen är att undersöka om införandet av den nya Skuldsaneringslagen (2006:548) gjort att de förväntade effekterna uppnåtts, samt om det inneburit att andra effekter uppstått. Metod Studiens syfte besvaras genom en personlig intervju samt flertalet enkäteter som har samlats in för det empiriska materialet. Bearbetningen av det empiriska materialet gjordes med en kvalitativ metod. Även remisser och propositioner har används för att hjälpa till att besvara kandidatuppsatsens syfte då referensramen och slutsatsen ställts mot varandra. Slutsats De faktiska effekter som den nya Skuldsaneringslagen (2006:548) inneburit är att enskilda näringsidkare kan skuldsanera om obeståndet beror på att denne inte kunnat arbeta under en längre period och därför hamnat i ekonomiskt trångmål. Vid ett ekonomiskt trångmål beaktas inte skuldernas ålder på samma sätt som tidigare vilket gjort att en gäldenär kan ansöka om skuldsanering i ett tidigare stadie. Att detta skulle bidra till försämrad betalningsmoral och förhöjda räntor visar sig oförändrad. Vid förändring av rekvisit såsom skuldernas ålder syns en tydlig effekt på antalet skuldsaneringsärenden. / Background The Government considered despite the introduction of the 1994 debt rescheduling act (1994:334) that a solution was needed to the problem that individual traders neither could be granted debt relief or corporate restructuring to thus be able to continue operations if they got into financial insolvency. Therefore in 2007 a special investigator was added to investigate and make proposals for debt relief for individual traders. This study was the basis for the Government bill that the Parliament in October 2010 decided upon. The main issue What impact has the new debt rescheduling act meant for traders as well as creditors? Purpose Our purpose of the bachelor thesis is to explore if the new debt rescheduling act (2006:548) has achieved the expected goals, the study will also investigate if the new debt rescheduling act has resulted in any other effects. Method The study's purpose is answered by a personal interview and several questionnaires that have been collected for the empirical material. The processing of the empirical material was made by a qualitative method. Referrals and propositions have also been used to help answer the bachelor thesis purpose, when the reference frame and the conclusion were set against each other. Conclusion The actual impact of the new debt rescheduling act (2006:548) is that individual traders can get debt relief if the insolvency was because the trader could not work for a long period of time and therefore ended up in financial trouble. In an insolvency situation the age of the debts are not considered in the same way as before, which meant that a debtor can apply for debt relief in an earlier stage. That this would contribute to deterioration in payment behavior and elevated interest rates appears unchanged. At the change of a criterion such as the age of the debt, a clear effect on the number of debt applications can be seen.

The lack of clarity of Canadian insolvency legislation with respect to the treatment of environmental claims has left Canadian courts wondering whether they should advance the public order policies embodied in the environmental legislation or promote creditors' interests and the private relief afforded by bankruptcy. This thesis examines the state of the law on the question and provides a critical assessment of the legislation and the relevant case law. The author points to the flaws of the legislation and its judicial interpretation, while uncovering the underlying reasons for the existence of such a confused body of jurisprudence. Building on these findings, the author proposes a reform of the insolvency legislation that would uphold the protection of the environment as a fundamental value in Canadian society.

Darbe analizuojami subjektai, turintys teisę inicijuoti įmonės bankroto bylą, analizuojamos problemos, su kuriomis susiduria šie subjektai, įgyvendindami bankroto bylos iniciatyvos teisę. / The paper examines the entities, which have a right to initiate bankruptcy proceedings. The paper also clarifying aspects of the problem faced by these entities in bankruptcy initiation stage.

Įmonės restruktūrizavimas kaip verslo gelbėjimo forma leidžia atkurti laikinai prarastą įmonės mokumą ir toliau tęsti ūkinę-komercinę veiklą. Restruktūrizavimo procesas negalimas be įmonės kreditorių pagalbos ir bendradarbiavimo. Kreditorių dalyvavimas restruktūrizavimo procese, jų aktyvumas ir įmonei teikiamos pagalbos apimtis priklauso nuo kreditoriams suteikiamų teisų ir jų įgyvendinimo sąlygų. Darbe atskleidžiama restruktūrizuojamos įmonės kreditorių kategorija, atskiriant skirtingas kreditorių grupes ir jų interesų restruktūrizavimo procese skirtumus. Dėmesys atkreipiamas į su restruktūrizuojama įmone susijusių kreditorių padėtį ir jų įtaką restruktūrizavimo proceso eigai bei rezultatui. Tyrimo metu sistemiškai analizuojamos pagrindinės kreditorių ir kreditorių susirinkimo teisės įmonės restruktūrizavimo proceso inicijavimo, restruktūrizavimo plano rengimo, tvirtinimo ir įgyvendinimo etapuose. Kiekviename etape išskiriamos esminės kreditorių teisės, atskleidžiamas jų turinys ir reikšmė. Pagrindinis dėmesys skiriamas esminių kreditorių ir kreditorių susirinkimo teisių įgyvendinimo sąlygoms ir praktikoje esančiai problematikai. Darbe taip pat analizuojamos atitinkamos restruktūrizuojamos įmonės valdymo organo pareigos kreditorių atžvilgiu, nustatomas jų atsiradimo momentas ir reikšmė kreditorių teisių apsaugai. Atsižvelgiant į tai, kad Lietuvoje restruktūrizavimo procesas ir kreditorių padėtis jame nėra plačiai išnagrinėtas, atliekant tyrimą daugiausia remiamasi... [toliau žr. visą tekstą] / Restructuring of an enterprise as business rescue form is intended to resolve a temporary enterprise‘s insolvency and continue further business activity. The implementation of restructuring process is impossible without support and cooperation of enterprise‘s creditors. The creditors’ participation in restructuring process highly depends on the scope of their rights in the process and conditions of implementation of given rights. This master thesis identifies the creditor‘s category in the context of enterprise‘s restructuring process, distinguishes different categories of creditors and marks out the discrepancies in their interests in restructuring process. Attention is drawn to the creditors related to the enterprise under restructuring, especially to their position in relation to other enterprise‘s creditors and their ability to make significant impact on the outcome of restructuring process. This paperwork presents a systematic analysis of the main rights of creditors and meeting of creditors in separate stages of restructuring process: the stage of initiating, the stage of preparation and approval of the restructuring plan and implementation stage. The author distinguishes essential rights of creditors and meeting of creditors in each stage of the restructuring process and analyses the content of these rights as well as their impact on the outcome of the whole process. This thesis focuses on the essential rights of creditors in the restructuring process, legal... [to full text]

Lietuvos Respublikoje Fizinių asmenų bankroto įstatymas įsigaliojo nuo 2013 metų kovo 1 dienos. Fizinių asmenų bankroto tikslas atkurti nemokių skolininkų mokumą išlaikant pusiausvyrą tarp skolininko ir kreditorių interesų. Galimybė bankrutuoti suteikiama sąžiningiems asmenims. Vyrauja du bankroto modeliai mokumui atkurti: likvidavimas - kai likvidavus visą skolininko turtą grąžinamos skolos kreditoriams, likusi skolų dalis nurašoma; restruktūrizavimas - sudaromas mokumo atkūrimo planas, likviduojama didžioji dalis skolininko turo ir fizinis asmuo tam tikrą terminą siekia atkurti savo mokumą, visas lėšas, kurios yra didesnės nei jam palikta minimali lėšų suma pragyvenimui, skirdamas skolų padengimui. Po patvirtinto laikotarpio neapmokėtos skolos nurašomos. Kadangi bankroto proceso metu dažniausiai yra pažeidžiami teisėti kreditorių interesai, būtina užtikrinti, kad bankrutuos sąžiningas asmuo. Asmens sąžiningumas preziumuojamas, LR Civiliniame kodekse yra numatyti sandorių atvejai, kuomet preziumuojamas nesąžiningumas. Tačiau skolininkas gali būti nesąžiningu ir nesudaręs nesąžiningumo prezumpcijoje numatytų sandorių. Skolininko nesąžiningumas gali pasireikšti šiais būdais: melagingų duomenų pateikimas, tyčinis duomenų nuslėpimas, mokumo atkūrimo plano nevykdymas, mokumas atsiradęs dėl žalingų įpročių, neatsakingų veiksmų ar padarytų nusikaltimų ir kt. Melagingi arba nuslėpti duomenys yra viena iš didžiausių sukčiavimo bankroto procese problemų su kuria susiduria visos... [toliau žr. visą tekstą] / Individuals bankruptcy law in Republic of Lithuania came into force on March 1, 2013. Big breakthrough in personal bankruptcy is considered the bankruptcy law adopted in England 1883. Following England in 1898 the bankruptcy law was adopted in Unites States, and later in the over countries. Now the possibility for natural persons to bankrupt is legalized in most of the European countries, USA, Canada, Australia and others. The purpose of personal bankruptcy law is to restore the solvency of insolvent persons keeping the balance between debtor and creditor interests. That means to restore individual to viable economic market while protecting their dignity, and encourage repayment of debts to creditors and income legalization. Such individuals debt relief pose creditors complains because their rights are restricted to recover the money they have lent, to earn the interest, and this is detriment of their property interests. Both, in the "fresh start" doctrine and law accentuate that the bankruptcy procedure applies only to honest person, so it is necessary to ensure an adequate legal framework, which would prevent the debtor's fraudulent actions. Dominates two types of bankruptcy models to restore solvency: Liquidation - after liquidation of all debtor's assets the repayments to creditors are maid, with remaining debts debtor is relieved; Restructuring - after solvency restoration plan is accepted, the main debtor asset is liquidated, a natural person seeks the restoration plan... [to full text]

La fusion et l’apport partiel d’actif soumis au régime des scissions sont des opérations fréquentes tant en France que dans les pays membres de l’OHADA. Elles présentent des risques multiples pour les actionnaires et les créanciers et cette thèse s'attache justement à étudier la protection qui s'offre à ces catégories. Cette étude fait apparaître que leur protection est assurée par trois éléments essentiels dans les deux ordres juridiques : l'information, la consultation et le principe de la transmission universelle du patrimoine. Nos analyses révèlent cependant que ces protections sont insuffisantes car elles ne sont pas mises en œuvre de manière optimale et sont fortement limitées par la jurisprudence. Aussi pour améliorer le système actuel, des solutions législatives et contractuelles sont nécessaires pour garantir au mieux la protection des actionnaires et des créanciers. La voie législative permet de renforcer l’efficacité d’un droit, comme par exemple la reconnaissance du droit de retrait aux actionnaires. Quant à la contractualisation, elle permet de renforcer la protection de base instituée par les textes, ainsi que l’illustre la clause de survie de l’obligation de couverture ou de la garantie autonome. / The merger and the partial contribution of assets subjected to the regime of splits are frequent operations both in France and in the member countries of the OHADA. They present multiple risks for shareholders and creditors, and this thesis focuses on the protection afforded to these categories. This study shows that their protection is ensured by three essential elements in the two legal orders: information, consultation and the principle of the universal transmission of the heritage. However, our analyzes reveal that these protections are insufficient because they are not implemented optimally and are strongly limited by case law. To improve the current system, legal and contractual solutions are needed to ensure the best protection of shareholders and creditors. The legislative way makes it possible to reinforce the effectiveness of a right, as for example the recognition of the right of withdrawal to the shareholders. As for the contractualization, it makes it possible to reinforce the basic protection instituted by the texts, as the survival clause of the obligation of cover or of the autonomous guarantee illustrates it.

Registered capital of a limited liability company Abstract This master thesis deals with the institution of the registered capital in a limited liability company, its meaning and its purpose. The aim of the master thesis is to evaluate the current legislation, to compare it with the adjustment of the registered capital in other countries (especially in Germany), as well as to propose its concrete improvements. The new legislation of the limited liability company is very different from the previous legislation; the abolition of the minimum registered capital is one change brought by the new legislation. This is the result, not the cause of questioning the registered capital as the creditor protection institute. The registered capital does not perform the guarantee function, because the regulation of the registered capital does not provide (and the neither did the previous Act) effective guarantees that the company will have funds corresponding to the amount of the registered capital after the establishment of the company as well as during the period of its existence. Other provisions concerning the actual creation and maintenance of the registered capital were (except, for instance, the registered capital test) preserved. This is positive, especially because of great number of companies that have...

As informações contábeis são de grande importância para o equilíbrio do relacionamento entre os stakeholders, sendo direcionadoras para a alocação de seus recursos. A auditoria independente, nesse contexto, surge como um importante mecanismo que contribui para proporcionar confiabilidade a essas informações, reduzindo o conflito de agência inerente a esse relacionamento, ao expressar uma opinião sobre a adequação das demonstrações contábeis às praticas de contabilidade. Diversas são as empresas de auditoria independente cadastradas na Comissão de Valores Mobiliários para realizar tais trabalhos no Brasil; no entanto, quatro empresas se destacam nesse rol: PriceWaterhouseCoopers, Deloitte Touche Tohmatsu, KPMG e Ernst & Young. Essas quatro empresas são mundialmente conhecidas como Big Four. Até 2001, tal grupo era denominado Big Five e tinha como integrante a Arthur Andersen, que deixou de atuar no ramo a partir de 2002. Este trabalho buscou verificar a participação dessas empresas no Brasil no período de 1997 a 2008. Para tanto, as empresas auditadas foram classificadas pelo ramo de atividade, controle acionário e negociação em bolsa de valores, a fim de verificar a participação das empresas de auditoria sob diferentes aspectos. A amostra foi composta de 2.024 empresas constantes do banco de dados da FIPECAFI no período contemplado na pesquisa. Os resultados apontam que, na média do período, aproximadamente 80% dos ativos das grandes empresas atuantes no Brasil são auditados por empresas do grupo Big Four. Em 2008 a líder geral no Brasil foi a KPMG, responsável por auditar mais de 30% dos ativos da amostra. Outro objetivo deste trabalho foi detectar características das empresas auditadas que poderiam ser indicadores para a empresa escolher um auditor componente do grupo das maiores empresas de auditoria independente, focando-se na influência dos credores nessa decisão. Para esse objetivo foram coletados dados contábeis das empresas auditadas, além das informações não contábeis já utilizadas na primeira análise de participação das auditadas (ramo de atividade, controle acionário e negociação em bolsa de valores) e aplicado o teste estatístico de regressão logística. Os resultados não mostraram que a situação econômica e financeira da auditada influencia essa escolha, mas apontaram para a importância do controle acionário e do porte da auditada. / Accounting information have great importance for the balance of the relationship among stakeholders, and driving to the allocation of its resources. The independent audit, in this context, emerged as an important mechanism that helps to provide reliability of this information, reducing the agency conflict inherent in that relationship, to express an opinion on the adequacy of financial statements to accounting practices. There are several independent auditing firms registered at the Securities Commission to carry out such works in Brazil, however, four companies stand out in this list: PricewaterhouseCoopers, Deloitte Touche Tohmatsu, KPMG and Ernst & Young. These four companies are worldwide known as \"Big Four\". Until 2001, this group was called \"Big Five\" and had as a member Arthur Andersen, which no longer operate in the sector since 2002. This study aimed to verify their participation in Brazil from 1997 to 2008. For this, the audited companies were classified by line of business, stock control and trading on stock exchanges in order to assess the role of audit firms under different aspects. The sample consisted of 2024 companies listed in the database FIPECAFI the period covered in the survey. The results show that the average period of approximately 80% of the assets of large companies operating in Brazil are audited by firms of the group \"Big Four\". In 2008 the overall leader in Brazil was KPMG, responsible for auditing more than 30% of assets in the sample. Another objective was to identify characteristics of the audited companies that could be indicators for the company to choose an auditor of the component group of the largest independent audit, focusing on the influence of creditors in that decision. For this purpose, data were collected from accounting firms audited in addition to the information which were already used in the prior market share analysis (line of business, ownership control and stock trading on stock exchanges) and applied logistic regression statistical test. The results have shown that the economic and financial situation do not have any influence in that choice, but pointed the importance of ownership control and audited firms size in that choice.

A presente tese versa sobre o fenômeno da confusão patrimonial nas sociedades isoladas e nos grupos societários. A tese propõe-se a: conceituar patrimônio social, examinando as suas principais características, funções e sua interatividade com o capital social; situar a pessoa jurídica como técnica de separação patrimonial; tentar alcançar um conceito de confusão patrimonial, diferenciando-a da confusão de esferas e apontando as insuficiências do estado atual da dogmática jurídica sobre a questão; examinar as principais características da confusão patrimonial, a saber a sua natureza, suas causas e seus efeitos (mais especificamente, os efeitos sobre os credores); caracterizar as diferentes formas pelas quais o fenômeno da confusão patrimonial se manifesta, bem como trabalhar com as exteriorizações desse fenômeno (indícios); apontar elementos que possam contribuir para a constatação judicial da confusão patrimonial; e apresentar e examinar algumas soluções para tutelar o interesse dos credores das sociedades que se encontram em situação de promiscuidade patrimonial. / This thesis discusses the phenomenon of commingling of assets in isolated companies and in groups of companies. It proposes to: define a concept of corporate asset, examining its main characteristics, roles and interaction with shareholders\' equity; assert the legal entity as a technique of separation of assets; attempt to reach a concept of commingling of assets, differentiating it from the mingling of spheres and pointing out current inefficiencies of the existing legal doctrine on the same issue; examine the leading characteristics of commingling of assets, namely its nature, causes and effects (more specifically, the effects on creditors); describe the different ways in which the phenomenon of commingling of assets is manifested, as well as discuss the materialization of this phenomenon (indicia); point out elements that may contribute to judicial analysis of issues related to commingling of assets; and, finally, propose and examine a number of solutions to safeguard creditors\' interests that find themselves in situations of asset promiscuity.