Search results for "Solvency"
showing 10 items of 110 documents
Bankruptcy and restructuring law in Poland
2019
The aim of this study is to present general description of the bankruptcy and restructuring law in Poland. The insolvency law is of fundamental importance to business transactions and investment security. The law on bankruptcy and entrepreneurs’ restructuring is increasingly perceived as an important factor in encouraging economic development and investment as well as a factor favouring entrepreneurs’ activity and preservation of jobs. Substantive condition of the bankruptcy and restructuring law has a very real impact on the economy.
Debt relief through creditors' repayment plan in Poland
2019
Consumer bankruptcy is a relatively new institution in Poland. It 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. The debt relief of an insolvent natural person non conducting business activity is possible by canceling the debtor's obligations by court order in a separate procedure after the repayment plan has been completed. The debt relief mode discussed in this paper can be described as "classi…
The need for change in the approach to insolvency of sport clubs in the regulations of the European Football Federation
2020
This study concerns the issues of league regulations related to the legal problem of insolvency of football clubs in the context of licenses to participate in competitions. The study presents a brief description of modern European football, including the phenomenon of financial oligarchization of sport, and uneven redistribution of the benefits of sport. The following section presents the relation between lex sportiva and state law; the legal position and importance of UEFA; licensing system rules for participating in games. Particular attention was paid to regulating the impact of participation in proceedings giving protection against creditors on obtaining and maintaining a license. Attri…
Early warning on insolvency in the European Union law
2020
Rapid diagnosis of the risk of an entrepreneur’s insolvency is of great importance for the socio-economic environment. This issue is of particular importance in the context of the financial crisis caused by the COVID-19 pandemic. The insolvency resulting in the announced bankruptcy brings a lot of harm to the debtors themselves (their shareholders), creditors and the entire economy. A much better solution is the restructuring of the debtor. For the purposes of predicting insolvency can be used Artificial Intelligence although traditional methods are also in use. For these reasons, in European Union law, the Restructuring Directive focuses on the anticipation of debtor’s insolvency. The text…
The Actuarial Balance Sheet for Pay-As-You-Go Finance: Solvency Indicators for Spain and Sweden
2008
This paper provides the first estimate of the actuarial balance of the Spanish contributory pension system for the old-age contingency, based on official data. The main accounting entries are developed from the principles of double-entry bookkeeping. The novel entry in the balance sheet, entitled the ‘contribution asset’ or ‘hidden asset’, is at the centre of the theoretical discussion. A comparison between the official balance sheet for the Swedish notional account system and our balance sheet for the Spanish contributory pension system is also provided. The main finding is that the Spanish pension system has an insolvency rate of 31.4 per cent. The policy implication is that unless curren…
A fuzzy-set qualitative comparative analysis model to predict bank bailouts: a study of the Spanish financial system
2020
This paper examines the restructuring of the Spanish financial system. This study is justified by the massive economic and social impact of this process in Spain. Based on the annual accounts and the annual reports of Spanish credit institutions, a model was created to predict the possibility of bank failure or bailout. The variables were selected following a review of the literature. They included the legal form of the credit institution (savings bank versus bank), leverage, real estate investment, gross operating margin, staff costs and non-performing loans. Two variables that had not previously been used in studies of this type were also included in the model: risk-weighted assets and co…
Legally protected cultural goods and bankruptcy proceedings
2020
Artykuł dotyczy ogólnych problemów prawnych związanych z celami prawny-mi postępowania upadłościowego w związku z celami ochrony dziedzictwa kulturowego. Obydwa zagadnieniami zbudowane są przez zupełnie inne systemy wartości. Postępowa-nie upadłościowe ma na celu ochronę interesów majątkowych ograniczonej grupy ludzi, podczas gdy dziedzictwo kulturowe jest chronione dla obecnych i przyszłych pokoleń, bez względu na jego znaczenie handlowe. Niewypłacalność właściciela dóbr kultury jest pro-blemem globalnym, ale krajowe przepisy dotyczące upadłości i przepisy dotyczące ochrony dziedzictwa kulturowego różnią się bardzo poważnie. Z tego powodu artykuł nie ogranicza się do żadnego konkretnego po…
Maksātnespējas procesa efektivitātes problēmas un to prevencija.
2017
Maksātnespējas procesa efektivitātes problēmas un maksātnespējas procesa dalībnieku vilšanās procesā. Sabiedrība pēdējā laikā tiek informēta par šādu un līdzīgu problēmu esamību. Ņemot vērā pašreizējo sabiedrības ekonomisko saistību un finansiālo pienākumu nastu, kura jānes katram iedzīvotājam, neviens nav pasargāts no tādu procesu sakritības, kura noved pie maksātnespējas. Tādēļ, lai nepieļautu turpmāku maksātnespējas procesa efektivitātes principa pārkāpšanu, kas kavētu procesa gaitu un kaitētu tā rezultātam, ir ļoti svarīgi noteikt pašreizējo maksātnespējas procesa efektivitātes problēmjautājumus un rast uz tiem atbildes. Šajā pētījumā analizējot maksātnespējas likumu, judikatūru un citu…
Ogłoszenie upadłości spółdzielni w świetle orzecznictwa sądowego
2022
The research issue in this study is the issue of declaring bankruptcy of cooperatives in the light of court decisions. A cooperative is a legal person, therefore it is a separate legal entity from its members (cooperatives). A cooperative, including has bankruptcy capacity. Members are not responsible for the obligations of a cooperative that has become insolvent, although it has a special relationship with them. De lege lata, the declaration of bankruptcy of a cooperative by the bankruptcy court does not mean that its members are obliged to make contributions to cover the deficit of the cooperative. Bankruptcy of cooperatives is not a common phenomenon in practice, and the legal regulation…
O nierównowadze w systemie prawa o niewypłacalności: demotywatory restrukturyzacji
2022
Niniejsze opracowanie poświęcone jest stanowi pewnej nierównowagi w systemie prawa o niewypłacalności. Z jednej strony, obowiązuje dogmat priorytetu restrukturyzacji nad upadłością w przypadku niewypłacalności dłużnika. Z drugiej strony, stan prawny adresowany do reprezentanta dłużnika w istocie rzeczy demotywuje go do wyboru ścieżki restrukturyzacyjnej. W pewnych sytuacjach optymalna dla dłużnika ścieżka restrukturyzacyjna może być realizowana za cenę ryzyka własnej odpowiedzialności reprezentanta dłużnika. W opracowaniu stawiana jest teza, że niektóre z okoliczności wyłączających odpowiedzialność reprezentanta dłużnika za niezgłoszenie wniosku o upadłość są wadliwie skonstruowane. Przedst…