Ascertainment of bankruptcy in German practice - inspiration for Czech insolvency environment

Michal Kuděj and Lee Louda

Ekonomika a Management, 2015, vol. 2015, issue 2

Abstract: Ascertainment of bankruptcy represents a key decision having huge practical impact in insolvency proceedings while, in our opinion, there are no practical bankruptcy-assessment economic criterions applied in the domestic insolvency routine. Therefore, this article addresses questions related to economic substance of insolvency and over-indebtedness and possible methodology of assessment thereof for the purposes of finding out of an enterprise standing and potential decision on its bankruptcy. We were inspired by the German insolvency practice which possesses long-time developed standardized methodology which, in our opinion, prevents either (i) irrelevant debtors’ efforts to forfend insolvency proceedings and also (ii) attempts to eliminate or takeover competitors unfairly via unjustified insolvency petitions.

Keywords: insolvency; Over-indebtedness; Insolvency presumption; Debts; Asset value; Platební neschopnost; Předlužení; Domněnka platební neschopnosti; Závazky; Hodnota majetku (search for similar items in EconPapers)
JEL-codes: G33 G34 G38 (search for similar items in EconPapers)
Date: 2015
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