Discharge from debts is one of the modes of resolving bankruptcy and is regulated in sections 389 to 418l of the Insolvency Act. This legal institute is widely used by debtors - especially by consumers, because if the debtor fulfils the statutory requirements, in particular consisting in the honesty of debtor's intent and in the satisfaction of claims of unsecured creditors at least in the minimum rate guaranteed by law, the debtor is subsequently allowed to achieve the essential benefit of the whole procedure - discharge from a substantial part of his unpaid debts. The aim of this thesis is to evaluate in a comprehensive way the valid and effective legal regulation of discharge from debts, including the last amendment that came into effect on July 1, 2017. At the same time, I focus on some problematic issues, which cause application difficulties in practice. The text of this thesis is divided into 8 chapters. The first chapter provides a definition of the key concept of the whole insolvency law, namely the concept of bankruptcy and impending bankruptcy. The second chapter deals with the basic characteristics of discharge from debts and description of subjective and objective requirements thereof. The following two chapters deal with two essential procedural motions, namely the petition to declare...

O principal objetivo desta dissertação foi identificar, descrever, analisar e classificar os principais fatores financeiros relacionados à morte prematura de micros e pequenas empresas na cidade de São Paulo. Partindo de alguns estudos já existentes foi elaborado um questionário que foi aplicado a vários executivos financeiros e, a partir daí, confrontaram-se seus pontos de vista com o que preconiza a teoria de finanças. As conclusões levantadas estão alinhadas com outros estudos que não apontam apenas uma, más várias, as causas que levam um empreendimento de micro ou pequeno porte à morte prematura. / The main objective of this dissertation was to identify, describe, analyse and classify the main financial factors relationed to the early failure of the São Paulo micro and small companies. Starting from previous studies some questions were built and a questionnaire was applied to several financial executives and their responses were challenged to the financial theory. The conclusions are in line with other studies that point out not only one but several the causes that drive a micro or small company to an early failure. .

The aim of this thesis is to analyse the role of an insolvency administrator in insolvency proceedings. It's main goal being to describe the legal aspects influencing his work and how these are implemented in practice. The theoretical aspect of this work investigates the history of insolvency proceedings and how they apply to the present day. In this section, we describe the rights and obligations of an insolvency practitioner. We look at how to become an insolvency administrator, including the obligations a practitioner must adhere to, in particular the legal requirements that apply. The practical part of the thesis demonstrates how the legislation is applied by example. The aim being to compare how theoretical knowledge is used in practice. In these cases the working procedures have been compared to real events. There is a subsequent evaluation of each case with each insolvency administrator's performance being ranked according to scale. In the conclusion there is a summary of the results and a proposal of how to ensure insolvency proceedings and the work of an insolvency practitioner can be made more efficient.

Made available in DSpace on 2016-04-26T20:26:18Z (GMT). No. of bitstreams: 1 Paulo Amador Thomaz Alves da Cunha Bueno.pdf: 1019400 bytes, checksum: 62c22395696d2524bf71bfda7137d9d0 (MD5) Previous issue date: 2007-10-30 / Bankruptcy is an established Commercial Law aimed at the payment of the debts of a legal entity that becomes insolvent. Historically, the establishment has always been disciplined, also by criminal regulations, whose application has constantly been object of controversies, due to the peculiar context that they used to regulate. Recently, the Brazilian legislation has had the structure of bankrupt law modified due to the publication of Law nº 11,101, of the 9th of February of 2005, statute that has substantially transformed not only the dynamics relevant to private Law, but also the systematic of the criminal part and criminal proceedings. It can be distinguished among the referred transformations , the expressed prediction that the bankruptcy statement order or the granting of any of two modalities for the company s recovery are punishable conditions in all the offenses foreseen in the same statute.(art. 180). Such disposition, inexistent in the previous legislation, is polemic, as it introduces in the legal system the debated and obscure category of punishable objective conditions, extremely criticized in the doctrine, specially for being difficult to accommodate with the principle of culpability and not for being undistinguished with clarity from the different elements in the offense structure. The objective of the research was, in this context, firstly to try to identify the characteristics of the objective punishable conditions, as they have not been done by the law, and then after that, confront them with the referred legal prediction, with the purpose of questioning their adequacy and convenience, in face of all kinds of penalties printed in the new law. In the end it seemed impracticable, mainly in face of the heterogeneous character of the offenses, as well as the warranty requirements which impart the modern criminal law / A Falência é instituto de direito comercial voltado à satisfação dos débitos da pessoa jurídica que se torna insolvente. Historicamente, o instituto sempre esteve disciplinado, também, por normas penais, cuja aplicação constantemente foi objeto de controvérsias, por força do contexto peculiar que disciplinavam. A legislação brasileira teve, recentemente, modificada toda a estrutura do direito falimentar, em razão da publicação da Lei nº. 11.101, de 9 de fevereiro de 2005, diploma que transformou substancialmente não apenas a dinâmica pertinente ao direito privado, mas também a sistemática da parte penal e processual penal. Dentre as referidas transformações sobressai a previsão expressa de que a sentença declaratória da falência ou a concessiva de qualquer das duas modalidades de recuperação da empresa são condições de punibilidade em todos os delitos previstos no mesmo diploma legal (art. 180). Tal disposição, inexistente na legislação pretérita, polemiza por introduzir no sistema legal a debatida e obscura categoria das condições objetivas de punibilidade, extremamente criticada na doutrina, especialmente por sua dificuldade de acomodação com o princípio da culpabilidade e por não se distinguir com clareza dos demais elementos da estrutura do delito. O objetivo da pesquisa foi, nesse contexto, primeiramente, tentar identificar as características das condições objetivas de punibilidade, já que a lei não o fez e, em seguida, confrontá-las com a referida previsão legal, no intuito de questionar sua adequação e conveniência, em face de todos os tipos penais estampados na nova lei, o que, ao final pareceu inviável, notadamente diante do caráter heterogêneo dos delitos, bem como das exigências de cunho garantista que informam o moderno direito penal

Discharge - as one of modes of resolving insolvency The subject matter of this master thesis is the institute of discharge of debts, with an emphasis on its rehabilitative nature. A certain degree of indebtedness of the population is currently a social standard and many consumers are falling into the so-called debt trap. This is the reason why the institute of discharge of debts has become the forefront of interest. Discharge allows a debtor to solve impending or already existing bankruptcy and his/her return to normal economic life with a clean sheet. In its seven chapters, the thesis classifies discharge in the system of insolvency law and chronologically deals with insolvency proceedings from the petition to declare bankruptcy and the motion to permit the discharge until its termination from the point of view of debtors as well as creditors. Besides defining alternative ways of resolving insolvency, basic subjects of insolvency proceedings and their possible intervention in the process; the thesis focuses on the subjective and objective admissibility of discharge. Furthermore, the thesis examines the choice of the appropriate method of discharge, namely realisation of bankrupt's estate, fulfilment of the instalment plan or combination of these methods; and conditions for successful completion of...

The Common Good was the ancient patrimony of a Scottish burgh, and the central resource of urban government before local rates. By the early nineteenth century this revenue was under considerable strain due to rapid population growth and urban expansion. As pressure on urban institutions and resources increased, so did debts secured against the revenue stream from Common Good assets, anxieties about which triggered the campaign for burgh reform. In 1833, as the Burgh Reform Act changed the electoral basis of burgh government, Edinburgh was declared bankrupt due to levels of borrowing incurred to build and extend the New Town and to expand Leith harbour. This thesis uses Common Good accounts as its quantitative basis. The disbursements of extant accounts for the period 1820-56 were recorded and assigned analytical categories in order to compare expenditure of different types over time. Such detailed analysis constitutes a major contribution to the existing historiography of Scottish cities and local government, providing insight into changing spending and priorities, and the effects on the unravelling of the old political order. It also facilitates discussion of the changing nature of corruption and probity in public life during a period when expectations of those holding office changed substantially. In the 1820s burgh reform seemed likely, yet in responding to the challenges of urban government, the unreformed Council was innovative. Two case studies illustrate the contingency function of the Common Good. Whilst George IV’s visit is well-known, that the Council used Common Good money to provide civic hospitality and promotion is not. The Great Fires of Edinburgh of 1824 were very damaging, especially around Parliament Square, and the Council offered a sophisticated response using the resources of the Common Good which included emergency aid to those in need, and the establishment of the first municipal fire brigade. In 1833 Edinburgh was declared bankrupt, and the City’s assets were transferred to trustees appointed for the Creditors. Without control of its finances during protracted negotiations, the new, elected Council suffered from a ‘legitimacy deficit.’ The Settlement Act 1838 served to ‘translate’ the Burgh Reform Act, 1833 to Edinburgh’s needs, as it restructured municipal debt and gave Leith a portion of Edinburgh’s Common Good, which meant Leith could make use of its police burgh status gained in 1833. This case shows the higher importance of local legislation to a major city rather than general acts. With the problems of the former political system resolved, Edinburgh’s 1856 Extension Act expanded municipal boundaries and transferred police powers to the Council, so moving towards a unitary authority. Neither burgh reform nor the restructuring of local government can be understood without first analysing how the Common Good was used, and this thesis takes important strides in that direction.

The aim of this thesis is to describe some of the well-known, as well as several less-known, prediction models, and to verify their ability of predicting bankruptcy in the conditions of the Czech Republic. The theoretical part of the thesis contains descriptions of these models, equations to calculate them and ways of results evaluation. Models by both Czech and foreign authors are presented. The practical part of the thesis verifies the ability of these models to predict bankruptcy on a sample of eight randomly selected companies which suffered serious financial problems. At the end of this thesis, the results from evaluating of these companies by prediction models are summarized.

The rights and duties of natural persons during proceedings on discharge of the debt Abstract The main aim of the thesis is to describe the institute discharge of the debt that is defined in the Act No. 182/2006 Coll., on Bankruptcy and its solution (Insolvency Act). The thesis analyses the discharge of the debt from the perspective of the debtor, natural person. The thesis presents a status of the debtor, his rights and duties during insolvency, respectively presents the discharge debtor of his debt. The purpose of the thesis is to describe valid legal regulation, the description of the court decisions in the use of the Insolvency Act, the expert's opinions and the problems with the imperfection of the Insolvency Act, in the part of the discharge of the debt. In the first part, the thesis characterizes the history of the insolvency act and discharge of the debt in the Czech countries since 18th century. Next chapter defined some terms for the thesis important. Specifically, there is defined the term of the debtor. With regard to the discharge of the debt as one of debt-eliminating modes of solving bankruptcy of the non-businessmen's person, the thesis analyzes the term of non-businessmen's person in one of the subchapter. There are defined next terms, guarantor, co-debtor, the term of husband or wife of...

Rights and duties of the insolvency trustee in bankruptcy The topic of this Master's thesis is rights and duties of the insolvency trustee in bankruptcy. The aim of the thesis is to describe activities of insolvency trustee that are related to the solution of debtor's decline by bankruptcy. The insolvency trustee is an important subject of insolvency proceedings; in the case of bankruptcy his task is primarily related to activities associated with the estate, with its liquidation and distribution of proceeds. First chapter focuses on insolvency proceedings in general. First part deals with historical context; second part analyzes the process of insolvency proceedings with a respect to different ways of resolving the debtor's decline - reorganization, discharge from debts and specific ways (i.e. a slight decline and the bankruptcy of financial institutions). In the next chapter, the bankruptcy is discussed as another way how to solve the debtor's decline, regarding to the subject of the thesis. The third chapter is divided to two sections. The first analyzes the term "insolvency trustee" and also defines specific types of this subject of insolvency proceedings. Individual subsections focus on the each specific type. The second section deals with responsibility of insolvency trustee. The last and...

In this dissertation, I consider a range of topics in bankruptcy, credit risk and asset pricing. The first chapter proposes a structural-equilibrium model to examine some economic implications arising from voluntary filing of Chapter 11. The results suggest that conflict of interests (between debtors and creditors) arising from the voluntary filing option causes countercyclical losses in firm value. The base calibration shows that these losses amount to approximately 5% of the ex-ante firm value and are twice those produced by a model without incorporating the business cycles. Furthermore, besides countercyclical liquidation costs as in Chen (2010) and Bhamra, Kuehn and Strebulaev (2010), countercyclical pre-liquidation distress costs and the conflict of interests help to generate reasonable credit spreads, levered equity premium and leverage ratios. The framework nests several important models and prices the firm's contingent claims in closed-form. The second chapter proposes a structural credit risk model with stochastic asset volatility for explaining the credit spread puzzle. The base calibration indicates that the model helps explain the credit spread puzzle with a reasonable volatility risk premium. The model fits well to the dynamics of CDS spreads and equity volatility in the data. The third chapter develops a consumption-based learning model to study the interactions among aggregate liquidity, asset prices and macroeconomic variables in the economy. The model generates reasonable risk-free rates, equity premium, real yield curve, and asset prices in equity and bond markets. The base calibration implies a long-term yield spread of around 185 basis points and a liquidity premium of around 55 basis points for an average firm in the economy. The calibrated yield spread and liquidity premium are consistent with the empirical estimates.