The topic of this thesis is bankruptcy as a form of insolvency solution with a practical example of company Z plus M TRADING Ltd. The goal of the thesis is to describe the gist of bankruptcy proceedings and describe the changes in Czech insolvency law that took place with the introduction of the new Civil Code effective from 1 January 2014. The thesis is divided into six chapters. It provides information on history of insolvency, bankruptcy proceedings or provides statistics on insolvency proceedings. The gathered information is then applied to a specific example of a company in bankruptcy.

Restructuring as one of the ways of solving insolvency is a method, that is supposed to allow preservation of the operation of the debtor`s company. Part of the restructurings however later converts into bankruptcy orders. The objective of this thesis is an identification of the key factors that lead to a successful fulfilment of the restructuring plan and also factors that might lead to their conversion into bankruptcy orders. The first part of this thesis is dedicated to insolvency and methods of its resolution among others according to the act no. 182/2006 Coll. on Insolvency and Methods of its resolution (Insolvency Act). The second part is dedicated to the selected factors and their possible influence on successful or unsuccessful completion of the restructuring. The conclusion includes a summary of important findings concerning whether and if so, what kind of connection is there between the selected factors and their influence on the successful completion of restructurings.

On January 1, 2008, the new insolvency act came into force in the Czech Republic bringing in some significant changes in insolvency law. One of those changes was moratorium which was meant to provide legal framework for company's sanation process, not only postpone its bankruptcy for a few months. After 5 years, a question concerning its significance may come out. The Master's Thesis is focused on this matter and its aim is to evaluate the moratorium from the point of view its use and purpose which it is supposed to serve. In other words, whether companies manage to overcome crises, or whether they go bankrupt anyway, despite the moratorium.

The aim of the thesis is to assess the whole reorganization proceedings between 2008 and 2013. Assessment will be based on the methodology that will consist in the definition of the selected indicators, through which an analysis of the values observed data obtained from the insolvency register. Based on the analysis of the indicators examined and will set the key risk factors that may lead to a possible successful or unsuccessful completion of the reorganization proceedings. To assess the course of the reorganization proceedings will be examined successfully and unsuccessfully completed the reorganization and further currently ongoing reorganization. Selected indicators shall include the number of insolvency proposals related to the reorganization proceedings, the duration of the reorganization, the method of its solution and compare the satisfaction of secured and unsecured creditors.

Souvent mis en évidence pour leur caractère asymétrique, les rapports qu’entretiennent le droit commun descontrats et le droit des entreprises en difficulté laissent dans l’ombre les liens pouvant subsister entre latechnique contractuelle et les difficultés pouvant être supportées par une entreprise. La mise en lumière de cesliens est l’objet de la présente étude. La technique contractuelle, perçue comme les clauses du contrat et lamanière des les rédiger, paraît occuper en premier lieu, une fonction anticipative des difficultés pouvant êtresupportées par une entreprise. Si dans les esprits, la crise est généralement considérée comme le facteurprincipal de défaillance des entreprises, il apparaît en réalité que les évènements se trouvant à l’origine de cesdifficultés peuvent être de diverses natures. Il en serait ainsi par exemple, de l’exécution d’un contrat rendueexcessivement onéreuse par la survenance d’un événement indépendant de la volonté des parties au stade deson exécution. De même, l’inexécution d’un contrat d’une importance particulière pour une entreprise pourraitégalement constituer un facteur de difficultés. Au stade de la formation du contrat, la technique contractuellepourrait permettre d’anticiper ces difficultés. Cette fonction anticipative ne doit toutefois pas conduire àignorer le rôle pouvant être occupé par certaines clauses dans la défaillance des entreprises, qu’ellesconstituent un effet repoussoir en conduisant le dirigeant à retarder le moment où il sollicitera l’ouvertured’une procédure de traitement des difficultés supportées par son entreprise, ou qu’elle constitue un obstacle àson sauvetage lorsque l’entreprise fait déjà l’objet de cette procédure. / Often highlighted for their asymmetrical nature, the relations between the law of contracts and the insolvencylaw leaves out the links that may exist between clauses of the contract and the difficulties that can besupported by a company. The highlighting of these links is the subject of this study. Clauses of contract seemto occupy in the first place, an anticipatory function of the difficulties that can be supported by a company. Ifin the minds, the crisis is generally considered as the main factor of failure, it actually appears that the eventsat the origin of the difficulties can be of various natures. This would be the case, for example, of theperformance of a contract rendered excessively onerous by the occurrence of an event beyond the control ofthe parties at the stage of its execution. Similarly, the non-performance of a contract of particular importanceto a company could also be a factor of difficulties. At the contract formation stage, some clauses could make itpossible to anticipate these difficulties. This anticipatory function must not, however, lead to ignoring the rolethat certain clauses may play in the failure of a company. Sometimes these clauses will constitute an obstacleto the early treatment of the difficulties. Other times they will be an obstacle to his rescue.

No abstract available / Dissertation (LLM)--University of Pretoria, 2013. / gm2014 / Mercantile Law / unrestricted

Reorganisation and restructuring in Czech and European Law This thesis deals with the Czech and European legal regulation of corporate bankruptcy rehabilitation. In the first part, the Czech variant of reorganisation in insolvency proceedings is analysed and then compared with the German and Dutch legislation. The phases preceding the decision to reorganise a company, such as the court moratorium, the drafting, approval and effects of the reorganisation plan, credit financing and the valuation of the debtor's assets are discussed. In the second part, this paper examines the Restructuring and Insolvency Directive accepted in 2019 by European Union and the reasons for its adoption. It outlines the possible ways of implementing this directive in the Czech legal system and the pitfalls that will have to be dealt with. It also explains the most important institutes introduced by the Directive, such as early warning systems, financing of the debtor and the elements of restructuring plans. Since the Directive has already been transposed into the laws of Germany, Netherlands and Greece, this paper also looks at the form of their arrangements. Finally, these types of corporate recovery solutions are compared, their advantages and disadvantages are presented, and the implications of the new institute of...

This thesis makes the task of clearly from many angles to describe and analyze the corporate reorganization in Kordárna, Inc. An important part of this plan is certainly describe "new" Insolvency law, the commercial law marks a significant step towards convergence to the West business law. Kordárna , Inc. the company came to the existential problems in the beginning of the year 2009 that lenders with a new crisis management handled the reorganization of the company. It was one of the first applications of the new reorganization law in that scope, which introduced this kind of solution. The emphasis of my work is primarily placed on the causes of problems and that the company pursued a number of different methods, which have to give a comprehensive view of the causes of various angles. My work also deals with the reorganization itself. An important passage is the comparison of solutions of bankruptcy and corporate reorganization, which is why the work has the support of the new insolvency law.

RAISING CLAIMS IN INSOLVENCY PROCEEDING - ENGLISH ABSTRACT The aim of this thesis is to provide a comprehensive summary of institutes of an insolvency law related to the application of claims as well as defining the rights and obligations of creditors related to this topic with a closer focus on risk and problematic facts appearing in practice. All the text is based on the insolvency law effective at the time of its creation and besides the academic literature also often uses related practice of the courts. The introductory part presents an insolvency law in its historical and also contemporary context. It is listing the material sources and their brief characteristics needed to simplify the understanding of the substance of an insolvency law. For the same reason the initial chapters deal with the basic principles and terminology of an insolvency law, namely an insolvency proceeding, a bankruptcy and closely characterize particular ways of solving a debtor's bankruptcy. Another part of this thesis focuses on the actual debts. The legal analysis of the term debt and its types that are applied during insolvency proceedings is being carried out and it involves also the list of debts excluded. On the other hand this part includes the theory of debts with no need to be applied, since those are registered into...

Die Arbeit behandelt den Debt-Equity-Swap im Insolvenzplanverfahren. Sie geht dabei besonders auf die rechtlichen und praktischen Hürden des Debt-Equity-Swaps im Insolvenzplanverfahren ein und deren mögliche Bewältigung. Aufgrund der mutmaßlichen geringen Praxisrelevanz wird die Motivation der am Insolvenzplan Beteiligten besprochen. Hierfür beschäftigt sich ein der Teil der Arbeit mit einer Umfrage unter Berater*innen und Insolenzverwalter*innen. Die Arbeit schließt mit Vorschlägen zur Bewältigung von Hürden und einer abschließenden Betrachtung.