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Corporate Insolvency Proceedings: A Case of Visegrad Four

Author

Listed:
  • Zuzana Crhová

    (Department of Finance and Accounting, Faculty of Management and Economics, Tomas Bata University in Zlín, nám. T. G. Masaryka 5555, 760 01 Zlín, Czech Republic)

  • Zuzana Fišerová

    (Department of Finance and Accounting, Faculty of Management and Economics, Tomas Bata University in Zlín, nám. T. G. Masaryka 5555, 760 01 Zlín, Czech Republic)

  • Marie Paseková

    (Department of Finance and Accounting, Faculty of Management and Economics, Tomas Bata University in Zlín, nám. T. G. Masaryka 5555, 760 01 Zlín, Czech Republic)

Abstract

Insolvency proceeding and liquidation of bankrupt companies are important topics in days of economic slowdown which affected all economies after financial crisis. This paper aims to find main differences between insolvency proceedings in the countries of Visegrad four. The main goal is to describe insolvency law in member countries and then to compare it from the poin of view of main actors. This comparison can help to find which changes and ideas could be applied to improve and make more effective the Czech insolvency system. The countries of Visegrad four was selected because of their common history and similar economic development. First of all, the legal background of insolvency proceedings which is possible for legal entities in these countries is examined. Then this paper deals with insolvency proceedings from the point of view of their participants - creditors, debtors and insolvency administrator. We have found that insolvency proceedings in these countries are very similar but there is still some inspiration for the Czech insolvency system.

Suggested Citation

  • Zuzana Crhová & Zuzana Fišerová & Marie Paseková, 2016. "Corporate Insolvency Proceedings: A Case of Visegrad Four," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 64(1), pages 235-243.
    • Handle: RePEc:mup:actaun:actaun_2016064010235
    DOI: 10.11118/actaun201664010235
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    References listed on IDEAS

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    1. Simeon Djankov & Oliver Hart & Caralee McLiesh & Andrei Shleifer, 2008. "Debt Enforcement around the World," Journal of Political Economy, University of Chicago Press, vol. 116(6), pages 1105-1149, December.
    2. Elena Cirmizi & Leora Klapper & Mahesh Uttamchandani, 2012. "The Challenges of Bankruptcy Reform," The World Bank Research Observer, World Bank, vol. 27(2), pages 185-203, August.
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