Foreign restructuring tools in Czech environment

Michal Kuděj and Juraj Alexander

Ekonomika a Management, 2014, vol. 2014, issue 2

Abstract: The Insolvency Act has introduced material improvements in the standard practice of insolvency proceedings and increase of recovery for creditors. We believe, however, that the Insolvency Act fails in resolving of a conflict between an owner-manager and (in particular) financial creditors which is quite common in distressed companies in the Czech Republic and Slovakia. Bearing this in mind, this article puts emphasis on the fact that tools used for restructuring processes in Germany (trust management - doppelnützige Treuhand and feasibility assessment - Sanierungskonzept) represent big solution potential in relation to this kind of conflict also in the Czech institutional environment. The article introduces said institutes and also suggests the way of their implementation into the Czech system of law.

Keywords: insolvenční zákon; Creditor; Insolvenční řízení; Věřitel; Debtor; Dlužník; Assets; Bank; Insolvency Act; Insolvency proceeding; Bunkruptcy; Aktiva; Banka; Úpadek (search for similar items in EconPapers)
JEL-codes: G33 (search for similar items in EconPapers)
Date: 2014
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