Acta Univ. Agric. Silvic. Mendelianae Brun. 2016, 64(1), 235-243 | DOI: 10.11118/actaun201664010235

Corporate Insolvency Proceedings: A Case of Visegrad Four

Zuzana Crhová, Zuzana Fišerová, Marie Paseková
Department of Finance and Accounting, Faculty of Management and Economics, Tomas Bata University in Zlín, nám. T. G. Masaryka 5555, 760 01 Zlín, Czech Republic

Insolvency proceeding and liquidation of bankrupt companies are important topics in days of economic slowdown which affected all economies after financial crisis. This paper aims to find main differences between insolvency proceedings in the countries of Visegrad four. The main goal is to describe insolvency law in member countries and then to compare it from the poin of view of main actors. This comparison can help to find which changes and ideas could be applied to improve and make more effective the Czech insolvency system. The countries of Visegrad four was selected because of their common history and similar economic development. First of all, the legal background of insolvency proceedings which is possible for legal entities in these countries is examined. Then this paper deals with insolvency proceedings from the point of view of their participants - creditors, debtors and insolvency administrator. We have found that insolvency proceedings in these countries are very similar but there is still some inspiration for the Czech insolvency system.

Keywords: Visegrad four, insolvency proceedings, creditor, debtor, insolvency administrator, reorganization, bankruptcy
Grants and funding:

This paper is one of the research outputs of the project "The model of comprehensive evaluation of the debt ratio of small and medium enterprises with regard to the risk of insolvency", registered at Tomas Bata University in Zlín under the registration number IGA/FaME/2013/002.

Prepublished online: February 29, 2016; Published: April 1, 2016  Show citation

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Crhová, Z., Fišerová, Z., & Paseková, M. (2016). Corporate Insolvency Proceedings: A Case of Visegrad Four. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 64(1), 235-243. doi: 10.11118/actaun201664010235
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