What human rights or fundamental rights of stakeholders do insolvency norms and laws affect? Will a human rights perspective help in striking a balance between the affected stakeholders? These are the primary questions addressed in this thesis. The idea that human rights values are relevant to he theoretical discussion about insolvency policy is relatively novel. Insolvency after all conjures images of banks and other creditors who are simply attempting to recover their investment. A thorough examination of the dynamics of insolvency however reveals that insolvency is not just about debt collection. It is a complex process that also implicates interests and stakes beyond the interest of banks and other creditors. Globalization further exacerbates this complexity, more so under circumstances of economic decline in the world economy. Using literature review and interdisciplinary or critical legal analysis as methods, the thesis analyzes the axiology of corporate insolvency. While “law and economics” has been identified as an influential value in policy formulation, normative values like human rights were identified to be equally relevant. The thesis draws upon stakeholder theory and corporate responsibility vis-à-vis human rights law to lay the foundation for stakeholder conflict analysis in the context of corporate insolvencies. Concluding that the likely conflict situations in corporate insolvency involve human rights, the thesis suggests the use of the proportionality principle as a balancing tool. In the functional part of the thesis, the author analyzes the relevant provisions of the Philippine insolvency law and singles out the conceptual disconnect of the law with mainstream stakeholder theory in the way it defines the term “stakeholder.”

Ziel der vorliegenden Arbeit ist es, die Kritik an der Vorsatzanfechtung nach § 133 Abs. 1 InsO a.F. herauszuarbeiten und zu diskutieren. Zudem gibt die Arbeit einen Überblick über die Gesetzesreform vom 29.03.2017 (BGBl. I S. 654). Zunächst werden die Voraussetzungen der Vorsatzanfechtung dargestellt und die Auslegung dieser Voraussetzungen durch die Rechtsprechung anhand von Beispielen herausgearbeitet. Die Arbeit zeigt die Kritik an der dargestellten Rechtsprechung auf und setzt sich mit verschiedenen Lösungsansätzen und Argumentationssträngen der juristischen Lehre auseinander. Die Autorin entwickelt einen eigenen Ansatz, der an dem Vorsatzbegriff anknüpft und unterbreitet einen Vorschlag für eine Gesetzesänderung. Im Anschluss wird die Reform der Insolvenzanfechtung besprochen. Dabei fragt die Autorin kritisch, ob die Reform als Erfolg zu bewerten ist. / The aim of this paper is to elaborate and discuss the critique of the contestation of an intentional preference according to § 133 para. 1 InsO previous version. In addition, the work gives an overview of the legal reform dated 29.03.2017 (BGBl. I p. 654). First of all, the prerequisites for contesting an intentional preference are presented and the interpretation of the prerequisites by the jurisprudence is displayed on the basis of case law. The work illustrates the critique of the reviewed case law and discusses the different solutions and lines of reasoning presented in legal academia. Subsequently the author develops her own approach, which ties in with the concept of intent, and submits a proposal for an amendment of the law. Finally, the reform of the contestation of an intentional preference is discussed. The author critically evaluates whether the reform should be considered a success.

Thesis (LLM)--Stellenbosch University, 2015 / ENGLISH ABSTRACT : The Companies Act 71 of 2008 introduces a completely new system for the regulation of distributions by a company to its shareholders. The preferred method for protecting the interests of creditors in distributions is now based on a solvency and liquidity test. Regrettably, the provisions setting out the requirements for distributions on the one hand and the solvency and liquidity test on the other have been poorly drafted. This thesis first explains and then applies an innovative interpretation theory to these provisions with a view to piecing together coherent content. The thesis finds that creative interpretations will not suffice in various places, meaning that substantive revision is required. The thesis concludes with brief amendment proposals and accompanying commentary. / AFRIKAANSE OPSOMMING : Die Maatskappywet 71 van 2008 bied ‘n radikaal nuwe sisteem vir die regulering van uitkerings van 'n maatskappy aan sy aandeelhouers. Die voorkeur metode om die belange van skuldeisers in uitkerings te beskerm, is nou op ‘n solvensie- en likwiditeittoets gebaseer. Ongelukkig is die wetlike bepalings wat die vereistes vir uitkerings aan die een kant uiteensit, en die solvensie en likwiditeit toets aan die ander kant, swak opgestel. Hierdie tesis verduidelik eerstens die bepalings, en pas dan 'n innoverende interpretasie teorie op hierdie bepalings toe, met die doel om 'n samehangende inhoud daar te stel. Die tesis bevind dat kreatiewe interpretasies op verskeie plekke nie voldoende sal wees nie. Dit beteken dat substantiewe hersiening noodsaaklik is. Ten slotte bied die tesis kortliks wysigings-voorstelle met meegaande kommentaar.

67 Abstract The topic of this diploma thesis is "Forum Shopping under European Regulation on Insolvency." The forum shopping means deliberate transfer of court proceedings from one EU member state to another under the regulation of EC Council No. 1346/2000, on insolvency proceedings. Forum shopping has been immensely developed recently which is evidenced by the fact that British courts have been facing motions for insolvency proceedings regarding debtors with major link to a non-UK country. I have chosen this topic because forum shopping often happens in real word and Czech expert literature keeps quite on this topic. The Regulation on Insolvency is linked to partly universal effect within the European Union. This means that insolvency proceedings in one Member state will be effective in other member states as well. The insolvency proceedings is commenced in the member state of the debtor's centre of main interests. COMI as a basic building stone of the Regulation is not precisely expressed, and only a partly construction served by the Court of Justice of the European Union leaves door open for large forum shopping evidenced by abundant decision making by the Court of Justice of the European Union and national courts of member states. Forum shopping is furthered by mutual recognition of decisions in terms...

L’ordre public est un concept fuyant. Dans les ordres juridiques nationaux comme dans l’ordre juridique européen, il renvoie à des réalités diverses. Pourtant, il s’agit d’un concept nécessaire. Il est en effet irréductible aux concepts qui lui sont proches : l’indisponibilité, l’illicéité et l’impérativité. Malgré la difficulté que présente sa définition, il peut être identifié dans sa singularité. Des critères d’identification tels que le libellé de la règle et sa sanction sont généralement retenus. Ils sont cependant insuffisants et peuvent être utilement complétés par la détermination de l’intérêt protégé, la prise en compte de la valeur en cause et la contextualisation de la règle. Le concept d’ordre public ainsi délimité présente des atouts indéniables dans une perspective comparatiste ayant pour objet les ordres juridiques nationaux de l’Union européenne. Il est une notion nécessaire à l’harmonisation du droit en général et à celle du droit commercial en particulier. Dès lors, il convient de penser l’harmonisation du droit commercial en fonction des règles d’ordre public. Ces dernières apparaissent comme un élément d’explication des échecs passés. Que les obstacles à l’harmonisation aient été liés à un « ordre public de structure » ou à un « ordre public de fonctionnement », ils peuvent s’expliquer par la diversité des règles d’ordre public. Toutefois, plus qu’un obstacle, les règles d’ordre public constituent un élément d’union entre les différents droits nationaux. La protection de certaines catégories de sujets, la lutte contre l’abus et la fraude, sont en effet des objectifs communs qui trouvent leur meilleure traduction dans des règles d’ordre public. / Public order is an evasive concept. In domestic legal systems as well as in the European legal system, it conveys diverse meanings. Nevertheless, it is a necessary concept. It is indeed irreducible to other similar concepts: unavailability, illegality and mandatory rules. Although it is hard to define, the concept of public order can be identified thanks to its singularity. Identification criteria such as the wording of the rule and its sanction are generally retained. They are however insufficient and can be usefully completed with the determination of the interest of the rule, the taking into account of its value and the putting of the rule into its context. Thus, the scope of public order being defined, this concept has undeniable advantages from a comparative viewpoint, which subject matter is the domestic legal systems of the European Union. It is a necessary notion for the harmonisation of law in general, and of commercial law in particular. Indeed, the harmonisation of commercial law has to abide by the rules of public order. These rules appear then as an element of explanation for past failures. Whether the obstacles to the harmonisation have been linked to a “structural public order” or to a “functional public order”, these obstacles can be explained by the diversity of the rules of public order. However more than an obstacle, the rules of public order constitute an element of union between the various domestic laws. The protection of some categories of individuals, the war against abuse and fraud, are indeed common goals that are better translated into rules of public order.

The topic of this thesis is Discharge from debts by individuals doing business - the possible effects on the economy. The aim of the diploma thesis is to introduce and to evaluate the discharge from debts of individuals-businessmen as one of the rehabilitative solutions of insolvency. In the first part, we get acquainted with development of legislative adjustment of insolvency law, course of the insolvency proceedings and process subjects. The thesis follows with introducing methods of solving the insolvency of a debtor. The main part of the thesis discusses the issue of discharge from debts of businessmen in detail including formulation of calculation of repayment and evaluation of suitability of this approach to solution of business debts based on data from publicly available sources. In the last part, we focus on assessing the degree of burden on borrowers and creditors and possible impacts on the economy. In the conclusion there are summarized all learned facts.

La faillite internationale est la faillite présentant des éléments d'extranéité. Avec l'expansion du commerce international et la succession d'instabilités économiques, l'importance du sujet a été considérablement accrue. 11eme puissance mondiale avec une économie reposant largement sur le commerce, la Corée (République de Corée), non moins concernée par cette tendance, a modernisé sa législation il y a une décennie. Le volume des échanges commerciaux entre la France et la Corée ayant doublé en 10 ans avec aujourd'hui près de 200 entreprises françaises présentes sur le territoire coréen, les règles nouvelles du droit coréen régissant les faillites transfrontalières ne sont plus indifférentes pour le juriste français. Le droit international privé coréen des faillites, sans paraître à première vue fondamentalement différent des droits français ou européen, comporte plusieurs particularités et fait par ailleurs l'impasse sur des notions phares de l'universalisme modifié auquel il prétend avoir adhéré. La substance, les motivations, et les possibles suites de cet état actuel du droit sont traitées dans la présente étude, avec un regard sur le droit des faillites, le droit de la procédure civile et le droit international privé coréens ainsi qu'une comparaison de ces derniers avec les droits français et européen. / Cross-border insolvency denotes the situations arising out of insolvency involving extraneous aspects. Along with the expansion of international trade and the succession of economic instabilities, the importance of its study has undoubtedly become greater. As one of the most concerned actors by this phenomenon, Korea (Republic of Korea) has modernized its legislation a decade ago. The volume of trade between France and Korea having doubled in 10 years, with nownear 200 French companies established in Korea, the new rules of Korean law governing crossborder insolvencies are no longer irrelevant to French jurists. Korean cross-border insolvency law, while not appearing prima facie to be fundamentally different from French or European laws, has several peculiarities and obfuscates the core principles of modified universalism to which it claims to adhere. The substance, the motivations and the possible results of this state of law will constitute the topic of this thesis, with an overview of Korea's bankruptcy law, civil procedural law and private international law, along with their comparison to French and European laws.

This thesis deals with the special category of crimes related to the bankruptcy of the debtor and to the insolvency proceedings. The first and second parts of the thesis are devoted to the general introduction into the both law branches, i. e. into the insolvency law and criminal law. The third part of the thesis focuses on interconnection of the mentioned law branches reflected in the category designed as insolvency crimes. The thesis analyses particular crimes utilizing the legal acts, technical literature and judicature. The fourth part handles the available statistical data regarding the insolvency criminality provided by the Czech Police. At last the thesis evaluates the social harmfulness of the insolvency crimes, its legal regulation and the protection against it.

The Master's Thesis is focused on the problem of securing an operational cash flow for maintaining entrepreneurship activities of organizations that enter into insolvency proceedings because of their insolvency or excessive indebtedness. This issue is addressed by the insolvency law through a new institute of debtor-in-possession financing which is a part of the main purpose of this law to assist companies that have a certain economic potential to create value added in the future prospect. The issue is with obtaining such post-petition financing because there is not many banking or non-banking institutions that would provide this high-risk financing. From the above-mentioned reason, an idea has been developed with the cooperation of Česká Spořitelna a.s. to create a new credit product provided by the banking institution for the Czech financial market. The assessment of rationality, effectiveness, and recoverability, as well as the proposal of standards and requirements for completion of contracts and their structure about debtor-in-possession financing are compiled in the Master's Thesis.

La cession est une solution incontournable du droit des entreprises en difficulté.Déterminer les droits des créanciers dans le cadre d’un plan de cession s’avère pourtant une tâche délicate.Le droit des entreprises en difficulté a fait l’objet de réformes importantes (loi du 26 juillet 2005, ordonnance du 18 décembre 2008 et ordonnance du 12 mars 2014 dans une moindre mesure).Dans le même temps, le droit des sûretés subissait des évolutions nombreuses (ordonnance du 23 mars 2006, loi du 19 février 2007, loi du 04 août 2008, ordonnance du 30 janvier 2009) mais parcellaires, preuve du manque de cohérence du législateur en la matière.Les réformes du droit des entreprises en difficulté et du droit des sûretés ont révélé l’absence de ligne directrice claire en ce qui concerne l’articulation de ces deux droits. Les réformes du droit des entreprises en difficulté et du droit des sûretés aboutissent à un enchevêtrement des textes, rendant leur application particulièrement complexe.Les nombreuses interrogations tant théoriques que pratiques créent une insécurité juridique.Dès lors, en me basant notamment sur les difficultés rencontrées dans le cadre de mon activité professionnelle ou sur celles pointées du doigt par la doctrine et les commentateurs de textes, consécutives aux évolutions législatives récentes, l’objectif de ce travail de recherche est de procéder à des recommandations à l’endroit des professionnels ainsi que de réaliser des propositions visant à un meilleur équilibre des intérêts en présence. / The sale of a business is one of the most important insolvency solutions.However it’s a hard task to determinate creditor’s rights under these circumstances.Insolvency law has deeply changed consequently to main reforms (Act of July 26, 2005 called the “Safeguard Act”, Order of December 18, 2008 and to a lesser extent Order of March 12, 2014).At the same time, guarantee law has been modified by lots of reforms too (Order of March 23, 2006, Act of February 19, 2007, Act of August 4, 2008, Order of January 30, 2009).These reforms were fragmented. Furthermore they have been built without guideline. As a result, the articulation between insolvency law and guarantee law is very difficult.The theoretical and practical questions generate a real legal insecurity.The goal of this research work is to make insolvency practitioners propositions based on, amongst others, doctrine’s comments and criticism. The objective of these propositions is to establish a better balance between the pluralities of interests involved.