Work detail

Bankruptcy and Settlement Proceedings – Theory and Czech Practice

Author: Mgr. Josef Diblík
Year: 2004 - summer
Leaders: † doc. Ing. Jiří Havel CSc.
Work type: Finance and Banking
Language: Czech
Pages: 88
Awards and prizes: M.A. with distinction from the Dean of the Faculty of Social Sciences for an extraordinarily good masters diploma thesis
Abstract: This thesis deals with the issue of bankruptcy in the Czech Republic. The first part characterizes legal regulations and their gradual development in recent years. Using empirical data I show that Bankruptcy and Settlement Act almost does not allow for other means of bankruptcy resolution than the use of liquidation. Also, current liquida-tion practice fails in its debt collection role. The thesis points out causes of this state in detail, especially procedural imperfections of the law and reasons for the lack of possi-bility to rescue a company in bankruptcy. Next part analyzes economic relationships between the debtor and creditors when bankruptcy looms. The analysis leads to recom-mendations for optimal bankruptcy design, adjusted for the reality of the Czech Repub-lic. Furthermore, reorganization in the US bankruptcy code is examined together with the possibility to introduce reorganization to the Czech legal system. The result is that American model of reorganization would not be working in the Czech environment
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