Allocating Decision-Making Powers Among Creditor Classes: The Ups and Downs of Battling Claims Heterogeneity in Czech Corporate Insolvency Law

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F13%3A10295837" target="_blank" >RIV/00216208:11230/13:10295837 - isvavai.cz</a>
Result on the web
<a href="http://dx.doi.org/10.1017/S1566752912001310" target="_blank" >http://dx.doi.org/10.1017/S1566752912001310</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1017/S1566752912001310" target="_blank" >10.1017/S1566752912001310</a>

Result language
angličtina
Original language name
Allocating Decision-Making Powers Among Creditor Classes: The Ups and Downs of Battling Claims Heterogeneity in Czech Corporate Insolvency Law
Original language description
The problem of claims heterogeneity makes allocating decision-making powers an arduous task for any insolvency law that aims to vest control over corporate insolvency proceedings in the creditors. The Czech Insolvency Act 182/2006 is a case in point. Oneof the Act's chief reform aims was to take control over the proceedings away from the hands of the judges and insolvency trustees and vest it in the creditors. Five years after the Act entered into force, it is time to look at how it succeeded in its ambition. This article reviews the rules allocating decision-making powers between secured and unsecured creditors in relation to several key 'turning points' in Czech insolvency proceedings, and also looks at how the initial rules were interpreted and applied by the insolvency courts. It also points to a set of amendments adopted by the Czech Parliament in the autumn of 2013 with a view to codifying those interpretive approaches that were found to work, as well as reversing those where th
Czech name
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Czech description
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Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
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Project
<a href="/en/project/GAP403%2F10%2F1235" target="_blank" >GAP403/10/1235: Institutional Responses to Financial Market Failures</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year
2013
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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