Search results for "Bankruptcy"

Liquidation of the Bankruptcy Estate in Poland

2020

The purpose of this study is to present the general principles and general issues of liquidation of the bankruptcy estate under Polish law. It should be stressed that liquidation of the bankruptcy estate is intended to satisfy the creditors of the insolvent debtor. Therefore, the manner of liquidation of the bankruptcy estate has an obvious impact on the final bankruptcy dividend for the creditors. The rules governing the liquidation of the bankrupt’s assets are of the key-importance for the theory of law and the practice. The article defines the directional principles of liquidation of the bankruptcy estate, procedure of liquidation of the bankruptcy estate. The subject of this paper there…

Amended consumer bankruptcy law in Poland

2020

In the presented paper, the author very deeply and thoroughly explains the issue of the currently amended consumer bankruptcy law in Poland. The paper consists of four key parts. In the first part of the paper, the author clarifies the Polish legislation concerning the consumer bankruptcy; in the second part of his paper he analyses the modes of a debt relief for an insolvent natural person through the consumer bankruptcy and consumer arrangement; the third part of the paper deals with the question of the legal character of a consumer debt relief and, finally, in the last part of his paper, the author focuses on the issues of a payment morality of the debtor and its legal importance. The ma…

Turnaround strategies for severe crises. Surviving a bankruptcy procedure

2018

A renewed interest on business turnaround (BT) has aroused, given the high number of firms which have suffered struggles during the Great Recession. This research focuses on declining firms that suffer the most severe financial distress, bankruptcy, and are also willing to survive and restore their performance. When facing a viability-threatening decline, firms must reverse it by implementing turnaround strategies. Drawing on BT literature, several questions were asked: Is the turnaround framework suitable for bankrupt firms? Are turnaround strategies effective in providing survival and recover performance of the bankrupt firms? Does the intensity of the response impact the turnaround outco…

Ŭridičeskaȃ praktika drugih stran Republika Pol’ša

2013

Modes of debt relief for consumers in Poland

2019

Consumer bankruptcy has been functioning in the Polish legal system since 2008. The serious amendment to the provisions on consumer bankruptcy made by the Act of 30 August 2019 amending the Act – Bankruptcy Law and some other acts (Journal of Laws 2019 item 1802) will certainly have a significant impact on the remarkable increase in the number of bankruptcy cases. Insolvency of natural persons – consumers is a typical social phenomenon, which has a very different background. It can be caused by a sudden change in the life situation related to e.g. deterioration of health, loss of a well-paid job, divorce, death of a spouse, termination of unformal relationship with a partner. Many people ar…

Wpłaty z zysku od jednosobowej spółki Skarbu Państwa po ogłoszeniu jej upadłości likwidacyjnej

2013

Natura e fondamento dell’azione revocatoria ordinaria e fallimentare

2022

Lo scritto esamina la natura giuridica della azione ordinaria e della azione revocatoria e il fondamento di queste azioni, che viene rinvenuto in un illecito commesso dal debitore e dal terzo. Nel caso di atti a titolo gratuito invece la revoca mira a evitare un ingiustificato arricchimento del terzo. The paper examines the juridical nature of the actio pauliana and of the bankrupty invalidation action and the reasons of these actions, which are based on a tort committed by the debtor and by the third party. In the case of free-of-charge deeds, however, these actions aim to avoid unjustified enrichment of the third party.

La Suprema Corte limita il privilegio processuale in favore del credito fondiario

2019

Lo scritto esamina una recente pronuncia della Corte di Cassazione, che ha ristretto la possibilità per i creditori fondiari di partecipare alla distribuzione del ricavato della espropriazione individuale proseguita ai sensi dell’art. 41, 2° comma, TUB (D.Lgs. 1° settembre 1993, n. 385). L’A., dopo avere ripercorso la disciplina positiva che regola i rapporti tra credito fondiario e fallimento, espone alcune considerazioni critiche sulla decisione. A recent judgment of the Supreme Court narrows the rights of banks, as mortgagee creditors, to seize the assets of the debtor notwithstanding bankruptcy proceedings, according to paragraph 41, subsection 2, of the Italian Consolidated Law on Bank…

Propagation of Bankruptcy Risk over Scale-Free Economic Networks.

2022

The propagation of bankruptcy-induced shocks across domestic and global economies is sometimes very dramatic; this phenomenon can be modelled as a dynamical process in economic networks. Economic networks are usually scale-free, and scale-free networks are known to be vulnerable with respect to targeted attacks, i.e., attacks directed towards the biggest nodes of the network. Here we address the following question: to what extent does the scale-free nature of economic networks and the vulnerability of the biggest nodes affect the propagation of economic shocks? We model the dynamics of bankruptcies as the propagation of financial contagion across the banking sector over a scale-free network…

Velka, vararikko ja tuomio : konkurssi ja sen merkitykset 1800-luvun suomalaisissa kaupungeissa

2017

This dissertation makes use of legal documents and ancillary official sources revealing the life courses of individuals to explore the implications of bankruptcy and the meanings attached to it at a time when Finnish society industrialized and modernized. Three perspectives serve to support the analysis. At the heart of the study is the domestic economy. Thus the study is concerned with cases of bankruptcy ruin both during life and also after death. Secondly, bankruptcy is addressed as an indicator of economic dynamism and entrepreneurial spirit. Thirdly, attitudes to bankruptcy are approached from the perspective of legal and social forgiveness. The era of industrialization gave rise to ev…