Luboš Smrčka's paper to be published in AMIS conference proceedings


Luboš Smrčka's paper "Changes of the Business recovery principle in modern Insolvency Law" has been selected for publishing in the proceedings of the 2012 AMIS conference, which will be held on 13 and 14 June in Bucharest.

Abstract: Taking the situation in the Czech Republic as an example, the study concerns the potential of recovery procedures in dealing with business bankruptcies. Based on the analysis of statistics, it arrives at the conclusion that despite the attempts at promoting the
importance of recovery principle under new legislation, there has been virtually no change in the proportion of using the recovery principle to liquidation. It becomes evident that the real obstacle in using such methods of resolving bankruptcy which enable to save a going concern and retain jobs was not the legislation existing in the Czech Republic prior to 2008, i.e. before the Insolvency Act became effective, but that the cause has been mainly economic. According to the author's conclusions, the decisive fact is that businesses enter insolvency proceedings too late, in a time when their assets are quite insufficient to satisfy the creditors, which means that the assets are equally insufficient to keep the business as a going concern.

Full article can be viewed here.

O projektu

Projekty TAČR s evidenčními čísly TD010093 a TD 010093 jsou řešeny mezinárodním vědeckým týmem, který je koordinován z Vysoké školy ekonomické v Praze. Oba projekty směřují k návrhům na legislativní změny a k vytvoření nových aplikací využitelných pro výzkum i praxi.