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

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  • Michal Kuděj
  • Lee Louda

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.

Suggested Citation

  • Michal Kuděj & Lee Louda, 2015. "Ascertainment of bankruptcy in German practice - inspiration for Czech insolvency environment," Ekonomika a Management, Prague University of Economics and Business, vol. 2015(2).
    • Handle: RePEc:prg:jnleam:v:2015:y:2015:i:2:id:250
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    More about this item

    Keywords

    insolvency; Over-indebtedness; Insolvency presumption; Debts; Asset value; Platební neschopnost; Předlužení; Domněnka platební neschopnosti; Závazky; Hodnota majetku;
    All these keywords.

    JEL classification:

    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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