German experience with reorganization in the frame of insolvency proceeding
AbstractUnitary insolvency proceeding was the core of insolvency code reformation, that has been in effect since 1991. This law replaced former bankruptcy code and compensation code. The pattern was set by American Chapter 11 US Bankruptcy codes. One of the main goals was to create legal system that would enable to reorganize companies in difficulties and so protect values and jobs. German insolvency law proposes in fact two reorganisation modes. Reorganization according to an insolvency plan and transferred reorganization (asset deals). Especially the transferred reorganization is very popular in practise because of quite fast process and risk and former burden elimination. Twenty years application of this legal regulation proved the insolvency code application in practise. The insolvency code provided many companies second chance. In spite of that, a critical approach is necessary as well as realisation of limits and problems that appear in practise. Two decades experience with companies' reorganization in Germany could be an inspiration for solving critical situations in Czech companies and for Czech insolvency law as well.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by University of Economics, Prague in its journal Ekonomika a Management.
Volume (Year): 2011 (2011)
Issue (Month): 3 ()
Postal: Redakce Ekonomika a management, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3
Find related papers by JEL classification:
- G30 - Financial Economics - - Corporate Finance and Governance - - - General
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Icks, Annette & Kranzusch, Peter, 2010. "Sanierungen in Insolvenzverfahren: Übertragende Sanierungen und insolvenzplanbasierte Eigensanierungen in NRW," IfM-Materialien 195, Institut für Mittelstandsforschung (IfM) Bonn.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Vaclav Subrta).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.