Discharge from debts as a mode of resolving insolvency of a debtor The aim of this thesis is to describe the institute of discharge from debts as one of the methods of resolving insolvency of a debtor, its principles and development, in the legal regulation in the context of relevant case-law and literature with respect to the ratified amendment of the legal regulation. Discharge from debts is according to the valid Czech legal regulation, which is the Act no. 182/2006 Coll., the Insolvency Act, a method of resolving insolvency of a debtor, which we count, together with reorganization, among rehabilitation methods of resolving insolvency. The purpose of discharge from debts is ensuring relative satisfaction of creditors, which is not liquidating for the debtor, and enabling him a new life without debts. It concerns debtors non- entrepreneurs, natural persons and legal entities. Only the debtor is entitled to apply for discharge from debts. The court shall while deciding on the debt discharge permission consider especially whether it is likely that at least 30 % of the claims of creditors receivable from the debtor will be settled and it shall also assess the honest intentions of the debtor. There are two forms of the discharge from debts. One of them is discharge from debts by means of converting the...

The abstract Position on insolvency administrator under insolvency law This thesis describes the insolvency proceedings in view of the insolvency administrator. It deals not only with the position of the insolvency administrator in already running insolvency proceedings but also the prerequisites that must be met in order to become an insolvency administrator at all. It is processed with regard to the importance of the amendments to the act of the year 2013. Due to the financial crisis and growing indebtedness of population it is a very actual subject, which applies to almost all of us. The thesis is divided into six main chapters. The first is devoted to the person of the insolvency administrator with detailed terms and conditions for the emergence of the processed function relating in particular to integrity and tests and to the types of terminativ of their activities. The second chapter discusses the performance of the function with an emphasis to the appointment, amendment, withdrawal, exclusion and exemption from the function. The various types of insolvency administrators are discussed in chapter three. The largest chapter is the fourth one. This chapter discusses the General rights and obligationsc at first, which are common for all the types of resolving insolvency and it is followed by the second...

This paper examines determinants of creditors' claims satisfaction in insolvency proceedings in the Czech Republic. To our knowledge, it is the first research to such extent in the Czech Republic covering this field. Combining microdata from Insolvency Register, Business Register, Ministry of Finance and other sources, we construct a unique dataset of more than 2,600 cases. We identify several basic determinants of satisfaction: a higher share of secured claims, real estate and cash in assets of a company, submission of financial statements into Business Register, selling the business as a whole within the proceedings, and entrepreneur cases. We find no such effect for the audit of financial statements or for the age of a company. Moreover, we search for other indicators that may result in the lower satisfaction of claims, out of which five are statistically significant: a homeless person in statutory body, registered office at a firm nest, being listed as unreliable VAT payer, a connection to persons that have multiple records in Insolvency Register and a substantial increase in depreciation in the period between the last two submitted financial statements. In contradiction to the bankruptcy prediction literature, we show that the financial data are unreliable for predicting the outcome of insolvency...

This dissertation deals with the matter of legal and accouting aspects of insolvency proceedings in the Czech Republic. The first chapter describes the historic development of bankruptcy legislation. The second chapter deals withs matter of bankruptcy as one of the forms of crises solution. It defines the basic conditions for a bankruptcy, analyses individual procedural stages of bankruptcy proceedings because of prevailing solution of bankruptcies in this way. The third chapter analyses the present legislation in compliance with teh bankruptcy law and methods for its solution, Act No 182/2006 Coll The core of this chapter includes the basic pricniples and fundamentals of the new bankruptcy legislation in this country. Special attention is paid to the sanitation method for a crisis solutin in the form of reorganizing within a reorganizing plan approved by insolvency creditors. The fourth chapter is focused on the role of accounting ind the conditions of insolvency proceedings, this depending on the method for solution of the bankruptcy. The fifth chapter includes continuation of the analysis of information problem which will have to be trated within the insolvency proceedings under way. The sixth chapter offers the tools and mechnisms which can be used within the available information accouting basis for ordinary management economic and control activities in overcoming a crisis situation. The last chapter presents statistical data for randomly celected companies in bankruptcy at the time of this dissertation completion.

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...

The thesis discusses the possible solutions of the insolvency proceedings from the perspective of the creditor. It analyzes in detail how should the creditor proceed and what are his possibilities of the recovery of claims in insolvency proceedings. These procedures are accompanied by model situations, which often occurs in practice. The first part is devoted to insolvency proceedings in general, its history and its legal basis. The work is intended primarily for creditors, which decided to recover their claims in insolvency proceedings and are not lawyers.

This thesis decribes insolvency proceeding, primarily obligation and rights of creditor while information is baded on the Law no 182/2006 Coll., Insolvency Law. There is created instruction that should be used by creditor during insolvency proceeding. Thereafter there is in the part "practise" presented and analysed specific real case, this case was figured out by audition.

Discharge a rescue mode of resolution of insolvency Summary The aim of this thesis is to provide a comprehensive analysis of the Institute of debt relief as one of the solution of bankruptcy. The work is divided into three chapters. The first chapter is a historical excursion, describing the evolution of resolving insolvency and bankruptcy proceedings in the world and in the Czech Republic. The second chapter deals with the general interpretation of the concept of bankruptcy, insolvency proceedings and its effects. The third and most extensive chapter then focuses on discharge from debts itself and its nodal points that are crucial in this process. Namely persons entitled to file a petition for permission to discharge debts, including the requirements of this petition, the court's decision on the permit and subsequent approval of discharge from debts, debt discharge methods and duties of the debtor, and finally the decision of fullfilment of debt discharge and exemption of debtor from debts. Act no. 182/2006 Coll. on bankruptcy and its solution (Insolvency Act) provides two methods of debt discharge. Debt discharge through the realisation of assets or under the schedule payement. Both methods have in common that the debtor must pay at least 30% of the total value of its unsecured debts and the unsecured...

Historically, the insolvency proceedings are a matter of the national states and their own legal regimes. With progressive European integration, the undertaking activities grow over the national levels. Also with numerous cases of defaults of companies undertaking in different states of European Union, a request for regulation setting clear set rules for performance of multijurisdictional insolvency proceedings in European Union is made. At the beginning of the twenty first century the European regulation ES No. 1346/2000 on insolvency proceedings (the "Regulation") has become this set of rules. This Regulation, which among others stayed valid throughout the biggest financial crisis that European Union had come through and it is now becoming a quality ground on which the European Parliament is trying to establish its recast the regulation of European Parliament and Council (EU) 2015/848 on insolvency proceedings (the "Recast"). The interpretation of original Regulation was done by the European Court of Justice on several occasions. This interpretation helped on successful use of the Regulation. Based mostly on European Court of Justice decision making and international insolvency law experts opinion, the Recast has been prepared. The legal framework of the Regulation is therefore much widened. Many of the...

Substantive rules in the Insolvency Act Abstract The fundamental aim of the thesis is to find and analyze substantive rules contained in the Act No. 182/2006 Coll. Insolvency Act. The thesis analyzes their meaning and purpose, mentioning relevant judicial decisions and their historical context. Also foreign literature and expert monographs dedicated to insolvency law are mentioned. Questions of proposed amendments to the Insolvency Act related to the theme of the thesis are discussed, and personal opinions of the author on selected insolvency issues are included. The thesis is divided into 5 chapters, which analyze substantive norms of the Insolvency Act. Chapters Two, Three and Four form the core of the thesis. The first chapter defines procedural law and substantive law, relations between the Insolvency Act and other legal regulations, and its position in the system of law. The second chapter deals with different stages of insolvency proceedings, especially with the legal effects of the commencement of insolvency, bankruptcy but also with remedial ways of solving bankruptcy - reorganisation and debt relief. All the above mentioned is dealt with taking into account substantive rules of the Insolvency Act. The third chapter is dedicated to questions of liability of parties to insolvency proceedings, to the...